When Does Digital Content Become a Digital Asset?
By definition, an asset is anything tangible or intangible that can be owned or controlled, found, and used to produce value - the word "value" being the key here. When we talk about digital assets, we’re talking about any digital content or object (images, videos, documents, metadata, etc.) that can be used to produce value.
Take a video for example. A video file by itself has no "value". The real value is derived when an organization has the ability to find and use the video to generate revenue or achieve a specific business goal. Metadata, security, workflows and actionable insights are all required for an organization to realize the full potential of that video file, thus transforming it into a digital asset.
Let’s consider a video streaming company that licenses movies from film studios. The company defines a "Movie" object as the original video file and everything that that enables the company to use the movie in their business processes. The Movie object includes:
- The original, full-size, HD 1080p video file
- Trailers and previews
- Movie posters and additional images
- Metadata about the movie, such as year released, actors, location, genre, ratings, etc.
- Usage rights for how long the company can use the movie, as well as the channels, devices, and geographies where the movie can be shown
To achieve strategic business goals and grow revenue, the company must use a highly scalable digital asset management (DAM) application that provides advanced media management capabilities, workflows, a flexible data model, and the ability to define any content object with an unlimited number of attributes and properties that can be used across business processes and integrated with other systems.
In addition to managing and distributing digital assets such as a movies and images, the DAM application must also address user permissions and security for who can find, use, and modify digital assets. The application should automate the creation of various renditions to publish on multiple devices, and approval workflows for campaigns and downstream delivery. Insights into user activities and content actions are also critical to optimize the user experience and application performance.
Using the right DAM application allows organizations to produce value from any digital asset. If an organization can identify when an asset can be shown, to which audience, at which times, and on which devices, all while providing an optimized user experience, then the organization can achieve their strategic business goals.