We have a good understanding of the issues facing the media and entertainment industry and we have worked with some of the industry’s major players such as the BBC, EMAP/Bauer Media Group and Sage Publications to develop their managers to inspire and engage their people to improve the business’ performance and drive competitive advantage. PWC projects that worldwide advertising revenue will grow by 5% in 2016 and it is digital above all that will spur growth. This rise could be a thorn in the side of print but there are reasons for optimism. Newspaper readership is predicted to grow as a result of rising literacy, population growth and economic catch-up in emerging markets.
Digital has brought entertainment and media businesses the ability to deliver myriad new experiences to consumers, bringing businesses closer to them. New levels of connectedness is pervading consumers’ daily lives, and people check their phones continuously, virtually anywhere they find themselves.
Ultimately digital has also triggered a marked shift to a more complicated world, where businesses move faster and it’s ever harder to sustain competitive advantage.
Drivers for change in the sector include:
Digital will continue to change the way media and entertainment businesses ‘do business’: not just quicker, but more . This will create further shifts towards a more personalised customer-centric organisation.
Consumers recognise that they can be at the centre of their own world of entertainment and media, switching from finding content experiences they have liked, to being found by content experiences they will like. Delivering such experiences will demand that businesses get to know people as individuals to be able to provide relevant experiences.
With the explosion in connectivity, media and entertainment businesses will need to ensure adequate control over personal privacy.
As consumers demand more from their mobile devices, there are opportunities for content providers to work in partnership with hardware manufacturers and carriers, handset manufacturers to deliver innovative, exciting and personally relevant content and experiences direct to consumers. This will stretch beyond traditional entertainment and move into other sectors such as healthcare.
It’s no longer just a minority of young, early adopters who are digitally connected. Today’s mainstream consumers cut across age boundaries and media and entertainment businesses will need to provide content relevant to their needs too.
- In response to the above businesses will need to shift from having a ‘digital strategy’ to a business strategy fit for a digital age.
We can develop your managers and staff to deal with these challenges and deliver a fundamental shift in the culture and performance of your business. We have the unique ability to deeply understand your business vision, strategy, and goals and to design development interventions that will deliver significant business benefits. To learn more about our work in this sector and the impact we have had read our EMAP/Bauer case study. Alternatively see how our other clients have benefited from our support by visiting What Our Clients Say.