How can media and entertainment companies outperform competitors in challenging times? While cost optimization initiatives help drive efficiencies and fund transformation programs, strategic investment in growth areas is the ultimate goal.
While the global pandemic has given many parts of the sector a boost in terms of consumer habits – increased screen time resulting in higher demand for content – longer-term trends are worrisome. A steady decline in net margins, a growth in digital services and the presence of agile competitors suggest that that old-fashioned, straightforward cost-cutting won’t work. Instead, a more strategic approach is needed.
Building and extending the digital foundation is critical for delivering much-needed agility in both good times and bad. This white paper lays out strategies M&E executives can adopt to build more sustainable, profitable businesses in the long run. Our work has uncovered four core steps that companies need to take: reimagine the cost structure, transform the core, organize for growth and compete to win. It also includes several case studies from global M&E companies that we’ve helped transform. Download it now to find out more.