Avid® (Nasdaq: AVID) has announced the findings of the inaugural Avid Customer Association (ACA) Vote. The ACA Vote gave Avid’s preeminent customer community the unique and unprecedented opportunity to directly influence Avid’s future offerings. The findings on emerging technology and new business requirements also provide valuable insights into the media industry’s future plans and challenges in relation to cloud computing/virtualization, IP networking and content delivery, 4K/UHD in mainstream broadcast, multiplatform content delivery, and virtual/augmented reality.
The ACA Vote set a precedent for the media industry by giving ACA members the opportunity to weigh in on their most important requirements and ensure that Avid continues to deliver new or improved offerings that will positively benefit the community, demonstrating a deeper collaboration between Avid and its community. Over 6,500 unique voters from over 4,000 organizations in 109 countries participated in the vote. Spanning the areas of creative applications, workflow solutions and emerging technology, it uncovered what will most significantly impact the future performance and success of Avid’s customer community.
The ACA Vote revealed that the vast majority of media professionals (71.7%) are considering moving some part of their infrastructure or workflow to the cloud over the next two years—the most popular being remote access workflows (15.8%). Just 4.8% are considering moving their entire infrastructure and workflow to the cloud, highlighting the important role that hybrid cloud deployment models will play in the media industry’s journey to the cloud.
A hybrid approach will also be important to the industry’s transition to IP. Just over half of respondents (50.9%) are considering hybrid SDI/IP connectivity for new investments. 26.6% of media professionals are considering IP-only connectivity. Dynamic scalability is the most popular reason for considering IP video/audio (36.6%), followed by new high-bandwidth productions like UHD (28.8%) and format-agnostic workflows (16.3%).
High-resolution media formats are firmly taking hold, with the majority of media professionals (64.6%) expecting to implement 4K/UHD across their organization within the next two years. OTT or internet delivery is by far the most prevalent delivery mechanism for 4K/UHD (50.7%), followed by theatrical/venue viewing (21.6%) and satellite or cable delivery (13.6%). Just 9.9% said terrestrial broadcast is their most prevalent form of 4K/UHD delivery. The biggest challenge to adopting 4K is the burden on storage capacity (31.6%), followed by the cost of adding/upgrading 4K capabilities (30.5%), and the negative impact on the real-time performance of creative apps (24.7%).
While most media professionals (73.3%) are creating content for multiple platforms, less than a third (32.3%) use a single online video platform for social media content distribution. The majority (67.7) use the social media service’s online video platform, making content distribution cumbersome and inefficient. The top two most important drivers for investing in multi-platform content production are reaching new audiences (37.8%) and maximizing audience engagement (37.7%).
While more than half of media professionals (58.4%) said that virtual and augmented reality are important to their strategic growth plan, the vast majority (82.3%) aren’t yet sure which business models to consider, and most (63%) have no plans to implement VR/AR over the next two to three years. The most appealing applications of VR/AR are entertainment (23.1%), live events (21.25), gaming (20%) and film (19.4%). 15-30 minutes is seen as the ideal length for VR/AR programming (29.4%), followed by 5-10 minutes (25.5%), less than five minutes (18.7%), feature length (16%), and one hour (10.5%).
“The ACA Vote represents a new phase of customer participation in Avid’s future direction, building on the deep community partnership with our customers and users,” said Jeff Rosica, president of Avid. “I am proud of our community for reaching this exciting milestone and applaud the ACA Executive Board of Directors, who oversaw this process. The results of the ACA Vote will directly influence innovations for the MediaCentral® Platform, the industry’s most open, tightly integrated and efficient platform designed for media, and ensure that the ongoing development of our comprehensive tools and workflow solutions for media creation, distribution and optimization continue to support what is most important to our customers and their creative, technical and business requirements.”
“Red One” Tops Weekend Box Office With $34.1 Million
Moviegoers were not exactly feeling the Christmas spirit this weekend, or at least what "Red One" was offering. The big budget, star-driven action comedy with Dwayne Johnson and Chris Evans sold $34.1 million in tickets in its first weekend in theaters, according to studio estimates Sunday. It easily topped a box office populated mostly by holdovers.
For traditional studios, a $34.1 million debut against a $200 million+ production budget would be a clear indication of a flop. Some even peg the budget closer to $250 million. But "Red One" is an Amazon MGM Studios release and they have the luxury of playing the long game, accounting not only for global box office where Johnson tentpoles often overperform, but its life on Prime Video for years to come.
"Red One," in which Johnson plays Santa's bodyguard, was also originally built to go straight-to-streaming. There's a narrative that the theatrical earnings are not only just a bonus, but that it's an additive gesture towards struggling theaters looking for a consistent stream of new films. The first major studio holiday release since 2018, "Red One" opened on 4,032 screens, including IMAX and other large formats, on an otherwise quiet weekend for major releases.
Warner Bros. is handling the overseas release, where it has made an estimated $50 million in two weekends from 75 territories and 14,783 screens.
Still, it's certainly not a theatrical hit in North America. Even "Joker: Folie à Deux" made slightly more in its first weekend. "Red One," directed by Jake Kasdan and produced by Johnson's Seven Bucks, was roundly rejected by critics, with a dismal 33% Rotten Tomatoes score. Jake Coyle, in his review for The Associated Press, wrote that it "feels like an unwanted high-priced Christmas... Read More