Nagra’s Active Streaming Protection suite is going toe-to-toe with the likes of Synamedia ServiceGuard and Verimatrix Streamkeeper – three relatively nascent products born within the last two years which not only signal the transition of pay TV traditionalists to cloud-based OTT security, but also the broader consolidation happening around content protection services. Multi-DRM is not a multi-million dollar business. Conditional access still accounts for a sizable slice of security revenues, but is not a futureproof business. Forensic watermarking is breaking free from the shackles of premium studios, in turn leading to actual anti-piracy actions, such as takedowns, although forensic watermarking is still not what we’d call a cash cow. So, where does that leave the market? As a result, video…