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New Survey of Media Executives Shows Dire Views About Industry's Future
Nothing like that second cup of coffee whilst reading about the decline of one of the left's strongholds.[Variety, via Drudge] - Change or Die: 50% of Media and Entertainment Execs Say They Can’t Rely on Old Biz Models, Survey Finds With media and entertainment sectors continuing to be whipped by winds of digital disruption, many industry execs believe they need to change the ways they’ve done business ‐ or see their companies perish. About 50% of M&E executives said their company cannot rely on traditional business models to survive the shifting landscapes, according to a new survey by consulting and professional services firm EY. Indeed, 34% of those surveyed indicated that their company will no longer exist in five years unless their business undergoes reinvention. The survey identified three key factors driving change across M&E industry subsectors: responding to a new competitive landscape; struggling to keep pace with technology as businesses evaluate digital innovations, such as artificial intelligence and 5G; and dealing with challenges associated with changing customer expectations. Nearly two-thirds (63%) of execs embarking on change say optimizing the operating model will be truly transformational ‐ but at the same time, 28% said they don’t know what steps to prioritize in pursuing such a strategy, according to the EY survey. "Changing customer expectations" = "Tell us the truth. We can check you" Posted by: Raj 2020-01-08 |
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