Traditional media companies have several options. They can build new customer-focused platforms to combine capabilities across video entertainment, advertising, gaming, lifestyle, and so on, or revamp their business models to go direct to the consumer.
The short-term goal is to hold onto existing revenues, identify products, capabilities, services or contracts that are losing money (or might in the future) and divest or renegotiate. Longer term, companies need to evaluate their market position and determine the best strategy for their future. That could mean exiting the business entirely or radically transforming for growth.
Bottom line, traditional media companies must reinvent with a focus on achieving resilience, relevance and agility in an uncertain environment. We believe three key value plays can help address the complex questions facing media leaders: