Entertainment Media Companies Not Ready for Digital Opportunities?

  • Most media and entertainment company senior execs believe they are not fully leveraging customer data that would make it possible to deliver customized content, suggests a new study by consulting firm Accenture.
  • The research indicates that 91 percent of these executives are not taking full advantage of the data, and as a result, are not adequately prepared to identify revenue opportunities related to current and future digital technologies. Additionally, 95 percent do not have strong digital customer relationship management capabilities.
  • If fewer than 10 percent of the companies have a fully integrated view of their digital consumers, a new operating model may be necessary for sustainable digital growth (Accenture recommends a shift from legacy vertical, channel-oriented structures toward a horizontally-layered operating model).
  • Only 55 percent said their companies had a clearly defined social networking strategy in place, while 80 percent believe the industry is still in a state of flux. And 42 percent anticipate that advertising will serve as their main source of revenue in the next two years.
  • Accenture’s “Global Media & Entertainment High Performance Study” canvassed 130 executives across Europe, North America, South America and Asia Pacific from industries including television, gaming, film, music, publishing, portals and advertising.