Reimagine to win: Original content production in the new content economy
DIGITAL DISRUPTION IS
TRANSFORMING BROADCASTING
It’s challenging established value chains, rewriting the rules of competition and recalibrating traditional measures of success. Content is at the center of this change. And value in the industry now depends on who best leverages it to attract and monetize an audience.
But, amid this disruption, traditional broadcasters hold an ace up their sleeves.
Their ability to create and produce original content at scale is a key source of competitive advantage, with which they can “jump the S-curve,” releasing trapped value while maintaining and evolving their core business.
DOWNLOAD THE POV [PDF]THE S-CURVE OF
BROADCASTERS´
TRANSFORMATION
A
TRANSFORM
THE CORE
Drive optimization
across the in-house capabilities to free up resources and fuel growth
B
GROW
THE CORE
Invest in strategic
in-house production capabilities to release trapped value to sustain growth and content differentiation
C
SCALE
THE NEW
Respond to headwinds in a legacy business by leveraging on content production advantages to build new growth models around content
D
WISE
PIVOT
Get the timing right
to minimize risk
THE NEW CONTENT ECONOMY
Broadcasting today faces a challenge. The new content economy is increasing demand for content, just as the complexity of managing it is rising. Four emerging changes are forcing broadcasters to rethink their traditional strategies and in-house production capabilities:
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Content primacy for customer engagement |
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New masters of original content and premium rights |
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Harnessing technology in constant flux across the content value chain |
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Disrupting the traditional approach to growth |
However, original content production remains a key competitive advantage for broadcasters.
Investing in original content and maximizing its distribution in a sustainable, cost-effective way requires adoption of new content lead strategies. This is critical to protect the creative and production skills downplayed in recent decades in favor of rights acquisition strategies.
5 WAYS TO COMPETE IN THE CONTENT ECONOMY
PUT CONTENT PRODUCTION AT
THE HEART OF FUTURE GROWTH
Embedding an in-house content factory’s mission within a broadcaster’s strategic objectives is crucial in driving transformation. However, it means shifting away from a traditional resource provider role towards a content partner or production studios model.
REINVENT RELATIONSHIPS WITH
THE CONTENT TEAM-CO-CREATE
AND CO-PRODUCE
If investment in content is to really pay off, broadcasters need to completely rethink their current way of working. They must challenge existing operating models and move from vertical structures to horizontal, converged organizations.
INDUSTRIALIZE THE SUPPLY CHAIN
WITH THE PERFECT MIX OF SCIENCE
AND ART
Unlike other industries’ supply chains, content production contains creative and artistic elements which must be preserved and stimulated. Yet the production process as a whole must still be optimized.
ROTATE TO NEW PRODUCTION
CAPABILITIES AND ASSETS
Content production is a capital-intensive business in which studios and talent must collaborate to produce the magic. Investing in the right capabilities is the key to ensuring a production’s success, as well as differentiation in the market.
MEASURE SUCCESS
Success is contingent on the ability to correctly identify costs and set targets; avoid distortions and inefficiencies; and understand and control variances including operational quantity and price. The right metrics are critical to determining ROI and define objectives.
YOUR PARTNER IN
MANAGING TRANSFORMATION
In making the shift to the content economy, broadcasters must abandon the “it’s always been done that way mindset” and focus on reinventing from the inside—adopting new capabilities, breaking down silos, and embracing new technologies and production models.
A transformation mindset must be engendered at every level of the workforce, and employees need the right tools, resources and guidance to make a smooth transition.
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