57% of revenue to come from digital by 2015, up from 47% today
TORONTO, June 19, 2013 /CNW/ - According to a new Ernst & Young survey,
digital will soon be the largest source of revenue for media and
entertainment companies, with 68% of companies reporting that smart
mobility will drive revenue growth.
"With the media and entertainment sector transitioning to digital as its
new norm, companies need to harness new technology not only to deliver
digital products and services, but to better understand and connect
with their customers," says Martin Lundie, partner and Canadian media,
technology and telecommunications leader at Ernst & Young.
Digital agility now! Creating a high-velocity media and entertainment
organization in the age of transformative technology identifies 69 companies as "digital leaders" (out of more than 550
global survey respondents).
Lundie explains: "Digital leaders have advanced social listening
programs, leading-edge analytics and cloud-based infrastructure that
enable rapid deployment of new products and resources. So they can
learn from - and fix - mistakes quickly."
While new, transformative technologies allow media and entertainment
companies to offer the personalized, anywhere, always-on content that
media consumers now demand, the research finds gaps between the
potential to build revenue, reanimate legacy offerings, develop new
products and services, and get to market more rapidly.
"Media and entertainment companies report that creating a culture of
innovation is the top strategic priority for digital transformation,"
adds Lundie. "But a steady stream of brilliantly innovative ideas
demands an extraordinarily agile organization to bring them to market."
As such, media and entertainment companies are rethinking the very
structure of their organizations to improve agility.
"We're seeing these companies shift from 'make-and-sell' to
'sense-and-respond' business models," says Lundie. "As technology
enables them to get closer to their customers than ever before, they
need to be nimble to respond to rapid shifts in customer demand. Only
the most agile companies will be able to respond competitively."
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SOURCE: Ernst & Young
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