Our new Trends, Technology and the Impact of Data in Media and Entertainment report, published in association with Adobe, explores the trends and challenges facing companies in the technology-beset field of media and entertainment.
Based on a survey of over 200 executives in large companies (above $10m in annual revenue) headquartered in North America and the UK, the report examines trends in media and entertainment caused by cloud computing, various new technologies, and an explosion of data on media consumers.
Here’s a look at three of the key trends that emerged from the research.
Content consumption is changing the face of media
Mobile remains the biggest content disruptor, but a proliferation of other channels is leaving many companies in closer competition.
Furthermore, the internet has introduced traditional media to a plethora of content challenges. YouTube, as well as subscription-based streaming platforms like Netflix and Hulu, pose a difficult challenge to traditional companies relying on high-production cost content and compulsory ad viewing.
Which of the following consumer trends are having the most impact on your business? (Top 2)
Transformed companies, or those companies whose respondents report having “sufficient staff to take full advantage of the technology we currently have in place,” see things differently; while still concerned with the advent of mobile, transformed organizations feel hampered by consumers’ desire for privacy/control of their data as these companies become more efficient at collecting private information.
Ad-reliant media companies are evolving
As the advertising game changes, companies that rely on ad revenue are having to adjust to the requirements of addressable television and associated audience metrics and, to a greater degree, the growth of programmatic.
Programmatic is particularly beneficial to the digitally transformed among the report’s survey respondents. They are 56% more likely than the average to cite this kind of marketing as having the most impact on their businesses.
Fortunately, media marketers are relatively unconcerned with obtaining enough digital talent to accomplish their goals, which suggests a fast-reacting labor market eager to match demand.
Which of the following media business trends are having the most impact on your business? (Top 2)
Re-platforming companies looking to boost advertising’s effectiveness
Among marketers citing “re-platforming” as a top business priority, increasing revenue through better yield and improving advertising effectiveness emerged as the primary drivers behind the goal of platforming, with both areas tying at 51%.
Additionally, businesses that are re-platforming are looking to reduce the complexity of digital marketing management as a way of increasing the efficiency of ongoing campaigns, while also returning marketing to its original mission of producing enticing creative.
Marketers citing “re-platforming” as a top business priority:
What are the primary drivers behind the goal of re-platforming?
Subscribers can download the full report: Trends, Technology and the Impact of Data in Media and Entertainment