Multimedia is Developing Rapidly
Global media and entertainment industry growth will be fed primarily from the emerging markets of Latin America, Asia, Russia and the Middle East.
Across these regions, the multimedia landscape is developing rapidly; and, in many cases, traditional barriers associated with distribution and regulation are no longer that significant. Companies looking for growth need to be evaluating partnerships and acquisitions that result in a greater exposure to these geographies.
After a decade and more of digital disruption, during which the entertainment and media landscape has struggled constantly to keep pace with advancing consumer expectations, it’s increasingly evident that there is no significant divide between digital and traditional media in eyes of consumers. Instead of a divided landscape, what we have is a fluid and multifaceted ecosystem – one where new digital offerings have created a bigger, more diverse content universe, and where digital has accelerated delivery across platforms.
Amid the resulting proliferation of content and access options, what’s clear is that consumers want more flexibility and freedom – for which read “choice” – in when and how they consume. They don’t want schedules – they want it on-demand. It’s also increasingly clear that they want it mobile too. And they’re consistently demonstrating that they will migrate to those offerings that combine an outstanding user experience – attractive content assortment, great discovery, social community – with an intuitive interface offering increased personalization and access across devices. Furthermore, consumers are engaging readily with content experiences that they can’t get easily elsewhere: hence the enduring appeal of shared, real-life experiences like cinema, live concerts, and sporting events – all of which have not just survived the growth of digital and social media, but have been reenergised by it. Put simply, today’s entertainment and media industry is about consumer choice, innovation and experience, irrespective of whether delivery is digital or non-digital. Mastering these three elements is now critical to commercial success – and to sustaining future growth.