New business models for emerging media and entertainment revenue opportunities
Purpose ‐ As a growing share of consumer value shifts to new industry entrants, this paper seeks to suggest how long-time leaders in many media and entertainment (M&E) market segments can replace declining traditional revenue with equivalent value from digital media.
Design/methodology/approach ‐ The paper suggests how established media and entertainment companies ‐ newspapers, broadcasters, music labels and movie studios ‐ can proactively address both their potential revenue challenge and find new business models.
Findings
‐ The paper finds that media companies need to "rethink" their business models and seek innovative ways to enhance the consumer experience and connect with consumers.
Research limitations/implications ‐ This is a 2010 IBM Institute for Business Value analysis.
Practical implications ‐ M&E companies will require the capabilities to build analytics and insights, develop consumer-centric models and enable multiplatform delivery.
Originality/value ‐ Three strategies will likely help M&E leaders overcome
the revenue issues they face ‐ focusing on the consumer experience, embracing new distribution platforms and expanding revenue models.
Keywords: Corporate strategy; Customer loyalty; Distribution management; Entertainment industry; Multimedia
Document Type: Research Article
Publication date: 10 May 2011
- Previously published as The Antidote
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