The State of the Media Industry.
How many news stories have you read in the past decade that started out with that ominous phrase? It’s almost a truism in the parlance of today that mainstream media – faced with competitive upstarts, advertising upheavals, changing user behavior and declining profit margins – is struggling, at best, and on death watch, at worst.
Of course, as with any generalization, there’s a bit of truth to the hype – and a lot of nuances that make the case far from closed.
The truth, in this case, is that the media industry is absolutely facing massive challenges as it goes through a digital disruption. The less-spoken fact is that nearly every industry today is managing (or trying to) that same transformation.
Insurance, banking and retail enterprises are adapting to digital, customer-centric and omnichannel ways of doing business. Healthcare providers now rely on digital records and data analytics with the goal of improving health outcomes at lower costs. Manufacturing and automotive industries are finding their footing as innovations such as IoT and the sharing economy disrupt decades-old ways of doing business .
The apple cart’s been upset, dismantled and, in some cases, thrown away – and nearly every industry is looking for new ways to generate and deliver the goods.
And that’s when things get interesting – when workers, companies and, indeed, entire industries find new ways to thrive in a changing world. And that is what I’ll be exploring in this blog, the changing and challenged world of Mainstreaming Media.
In this space, I’ll be discussing real challenges and opportunities in the media industry – things like virtual reality, programmatic advertising, data analytics and cybersecurity. I’ll be pondering the trend toward mobile-first initiatives and automation. And I’ll happily engage around what’s working and not working within media.
As for myself, whilst not a “digital transformation expert” or a “media guru” (whatever that is these days), I’ll happily start the conversation, share insights and maybe suggest ways forward which have been successful elsewhere in media and in other industries.
So please join me. Don’t be afraid to offer input about how your enterprise is approaching this new reality. Tell me I’m wrong if I’ve misread a situation or trend. Feel free to provide insights and new ways of thinking about old topics. I want to engage with all of you in this space as we make sense, together, of the REAL State of the Media Industry.
Scott Dryburgh joined CSC in 2015 as the Industry Lead for Media with responsibility for UK projects in broadcast, publishing, advertising and entertainment. Prior to joining CSC, he worked across a broad range of clients and was responsible for transforming multi-faceted businesses using a creative and entrepreneurial approach.