
Media companies want to deliver unique content, offer a great customer experience, and maintain competitive pricing in a challenging economy.
The media industry is currently influenced by four major trends across content, consumption, and the business of media:
- Managing Production Costs: Media companies require real-time insights into their expenses to handle complex projects from planning to execution.
- Maximizing Media Value: Media companies earn primarily from content licensing, distribution, and advertising. With content spreading across various channels, understanding the location, rights, and potential of media assets is essential for maximizing their value. Managing rights at the enterprise level, combined with powerful analytics, also helps executives optimize revenue streams from content.
- Personalizing the Media Experience: With many content options and shorter attention spans, targeting relevant content to the right consumer sets successful companies apart - applying to licensed content and advertising.
- Complex Revenue Management at Scale: Major industry players with significant resources drive mergers and acquisitions, leading to the use of large content libraries to compete in streaming. In publishing, we've seen this used to form news giants that compete with social media platforms. For music, consolidation and the shift to streaming services have led to economic adjustments.