The focus of 5G PPP H2020 remarkable research so far has been largely on the required advances in network architectures, technologies and infrastructures. Less attention has been put on the applications and services that will make use of and exploit advanced 5G network capabilities. 5G-MEDIA aims at innovating media-related applications by investigating how these applications and the underlying 5G network should be coupled and interwork to the benefit of both. In this respect, 5G-MEDIA addresses the objectives of 1) capitalizing and properly extending the valuable outcomes of the running 5G PPP projects to offer an agile programming, verification and orchestration platform for services, and 2) developing network functions and applications to be demonstrated in large-scale deployments, based on 3 well-defined use cases (in the areas of immersive media and VR, smart production and user-generated content, and UHD over CDN) of diverse requirements and particular interest for the consortium partners. Based on the adoption of the open innovation approach, 5G-MEDIA platform will be offered to third parties to develop, combine, verify, deploy and validate media applications by utilizing the SDK capabilities and Service Platform offerings.Finally, 5G-MEDIA plans to create an ambitious business impact with the introduction of Streaming as a Service concept, built on top of a well-defined, consortium-wide exploitation plan and supported by the complementarity of expertise of its consortium, representing key industrial sectors in the network and media domains: telecom operators (OTE, TID), cloud providers (SILO), PaaS/SaaS vendors (IBM), service providers (ENG), application developers (NETAS), broadcasters (RTVE), SMEs (IINV, NXW, IRT, BIT) and research centers (UCL, UPM, CERTH). It is highlighted that the consortium includes partners with strong and active participation in 5G-PPP programme, complemented by new but important players on the media & entertainment industry sector.