The media and entertainment industry is facing dramatic changes, as it surges toward an era in which audiences will access any content, anywhere, anytime -- and with full interactivity. This major transformation brings with it a host of complex questions. What content will consumers want? Who will control the consumer relationships? What will be the effect of time shifting, device interoperability, high-speed digital video delivery and mobile commerce, among other emerging possibilities? How will industry participants best deploy and maximize the value of their assets in a digital environment?
Though there are more questions than answers, a number of key themes are emerging -- a few of these include:
- The Consumer is at the center: Power is shifting from the distributors of content to the consumers of content. How quickly this will occur in each media segment depends on the rate of change in the technology, infrastructure and regulatory environment. Also important: companies' ability to assess latent customer needs and create new business models that deliver a superior consumer experience. Successful companies will be those that take a thoughtful approach to testing the waters-building out multiplatform strategies without venturing far beyond their core.
- Listening and Innovation are necessary capabilities: Many media companies will need to make major organizational changes to create the feedback loops that will allow them to better collect, analyze and act on consumer behavioral needs and changes. Consumer knowledge will feed new business models, key decisions on cross-platform offerings, next generation user interfaces - everything companies need to offer consumers more relevant choices and to help them navigate those options.
KONNECTED's Media experience
KONNECTED has completed assignments with media and entertainment companies, including many of the world's best known and most successful businesses. Our clients have been major diversified media companies, newspapers, international broadcasters and cable TV channels, publishers, location-based entertainment companies, multimedia conglomerates, record labels and cable operators. We have worked extensively with Internet service providers, portals and content providers. KONNECTED has also helped Private Equity firms evaluate the merits of just about every major media deal over the past five years.
Our projects cover a broad range of issues, such as transforming traditional media businesses to a digital environment, acquisition screening and integration, and content and rights negotiation. We help our clients launch new channels, find new ways to lower costs, segment customers, and pursue new technologies and business models.
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