Digital Assets Management Explored

Digital Assets Management (DAM) is not the same as Content Management

by Paola Di Maio

17 April 2001, 2 pm GMT

Only as recently as last year, Document Management and Knowledge Management were easily confused.

The rapid technology push of the last few months has brought content management to the agenda of virtually every company with a web presence, and the market is exploding,even if most are still unsure as to what should a content management system do to qualify as such.

Now Digital Asset Management and Media Assets Management are becoming popular terms, but how do they fit in the picture?

At Content-wire we have knowledge and content both very much at heart.

We have tracked the transitional path, and summed up what we perceive are key differences in a research note published today in the Knowledge Base section of the site.

Content Management And Digital Assets Management Are Different

Digital Asset Management (DAM) is seen by some as a synonym for Media Asset Management (MAM), but at Content-wire we take the approach that MAM is a subset of
DAM, reserving the distinction that not all Digital Assets are Media Assets.

(We welcome and encourage alternative opinions, btw)

DAM and MAM focus on the ‘value’ aspect of the creation, the management and delivery of digital products, but the emphasis is on the transferability and evaluation aspect of the
processes, high level business and financial considerations.

Content Management, by contrast, is concerned with the publishing, with emphasis on the production and distribution processes.

According to Giga Group, in this context “rich media” refers to the totality of vertical technologies in the DAM/MAM market, such as file formats, creation software, distribution methods (publishing, viewing, printing), and the systems for managing the creation, storage, retrieval, update and delivery.

“The need for DAM/MAM technology is also driven by the explosion of advertising and other rich content information delivery being designed and managed for Intra/Internet delivery. New technologies and more advanced digital asset management and delivery capabilities are being developed to meet these needs. The major advertising and entertainment companies, larger commercial and government organizations, and media printing and distribution companies are leading the way in the adoption and application of DAM/MAM systems" say Giga analysts.

Mark Kindy, a consultant with Andersen, has been following the space for a while.

He explains “Media asset management (MAM) is defined by Andersen as ‘a series of processes and technologies aimed at digitizing, cataloging, multipurposing, and delivering media content’.

“We believe MAM will be among the most important issues facing content production and distribution companies in the coming years.”

Among the leading DAM vendors, experts identify Artesia, Ascential and Bulldog.

As a result of a recent survey , the analysts conclude that although the content creation and distribution sectors are clearly undergoing dramatic changes, successful players will develop and implement coordinated technologies and processes to optimize their content assets.

And while most companies may accept this view, the barriers to executing an effective MAM strategy are significant, say the analysts.

Here some of the key findings of their research

Low Satisfaction with Current Media Asset Management Processes

Around the globe, media and entertainment companies are very concerned about their ability to harvest the true value of their media assets. Research found that only 22 percent of first-tier North American companies and 12 percent of second-tier and emerging/new media companies are very satisfied with their current process for tracking, accounting, and leveraging their content investments. In Europe, the picture is even more bleak, with only 14 percent of first-tier players and 17 percent of emerging/new media firms expressing high satisfaction.

Significant Willingness to Invest in MAM

There appears to be a significant willingness to make major investments in technologies to redress the suboptimal use of media assets. In North America, 52 percent of all first-tier and 50 percent of emerging/new media firms surveyed said that they are likely to implement MAM systems over the next three years. While interest outside the United States is less strong, 38 percent of European first-tier players and 14 percent of emerging/new media companies indicated plans to invest in MAM systems during the same time period.

Effective MAM systems involve a number of component technologies and activities. These building blocks include subprocesses and systems focused on such areas as archive, library and storage systems; digitizing systems, production and authoring systems; rights licensing, sales and distribution, cataloging, indexing, and search and retrieval.

Respondents were asked to prioritize their areas of focus among these various MAM building blocks. In North America, more than 50 percent of first-tier and more than 40 percent of emerging/new media companies are very likely to make investments in one or more of these components.

North American firms placed the highest priority (very likely to receive investment) on building archiving, library and storage systems, digitizing systems, and content creation and production systems. Companies also expressed interest in other building blocks, such as search and retrieval systems, sales and distribution systems, and rights licensing and management systems, but to a lesser degree.

In Europe, the respondents took a different view of their priorities. While nearly half of media and entertainment firms in that region plan to make investments in MAM components, these companies placed a different emphasis on the specific building block systems. European firms identified search and retrieval systems, content creation and production, and cataloging and indexing as their highest priority.

Envisioned Use of Digitized Assets Varies by Geography and Company Size

Much of the discussion about the deployment of digital content technologies has focused on two main value propositions: a reduction in production costs and the ability to create new revenue models, particularly online. We wanted to know how content companies planned to use their digital media assets once they had deployed MAM. For large North American firms, the greatest focus is on using MAM to reduce the cost of traditional production processes. Perhaps not surprisingly, emerging and new media companies appear to be most focused on using MAM to enhance their Web offerings.

In Europe, first-tier companies expressed a stronger interest in enhancing their online experience with digitized assets than their North American peers did. However, interest by companies of all sizes in reducing their production and distribution costs with MAM was significant. Other key aims for MAM in both Europe and North America include developing bundled offers of assets, providing online licensing, and selling assets to other companies. In all regions, emerging/new media respondents were generally more intense about their digital asset use.

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