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Pulse of Media addresses a number of meaningful shifts underway in the media and entertainment industry as 2014 begins. Consumers are influencing content and services in powerful ways. Companies are transforming themselves to serve customers on every screen. Leveraging advanced consumer data and analytics, new business models are beginning to thrive.
Our report focuses on three main trends that capture these shifts: the consumer is (still) king of content, powering the digital experience and disruption is the new norm. It examines how media and entertainment businesses could be affected over the coming year and outlines the critical issues that all companies – both established and new entrants – will need to address as they develop their strategies for the future.
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Since we launched Pulse of Media last year, the media and entertainment industry has continued to experience disruption, with winning and losing strategies becoming ever clearer. Amidst industry disruption, we note that the definition of a media company has expanded, shifting with every online or mobile innovation. Consumers are more demanding than ever and content is becoming fluid as a result, available anywhere and anytime.
Three main themes capture the trends that are affecting the media and entertainment industry:
The consumer is (still) king of content—As businesses take advantage of consumer data and analytics, consumers get even more of what they want.
Powering the digital experience—New technologies are fueling the industry’s efforts to serve consumers on every screen.
Disruption is the new norm—Where trailblazing businesses recently fought for air, the dust is now beginning to settle.
New trends will continue to emerge and disrupt the media industry. Consumers will remain in control, expecting more and more from their screens of choice.
Using consumer data and analytics will allow companies to keep pace with their customers – but keeping up will be a challenge for many, as new entrants continue to shape evolving consumer expectations and needs.
With disruption taking hold as the new normal, media companies must respond by developing operating models and capabilities that allow them to be strategically agile. Those media businesses that can adjust to new opportunities will be well positioned for a place in the new media landscape.
March 18, 2014
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