Media and Entertainment industry including publishers and production houses have always been in a state of flux. From limited television networks to umpteen number of OTT services to news updates with no apparent delay in reporting — the changes have been brought about by shifts in audience demographics and consumption patterns. The technology has redefined how content is produced, distributed, and consumed. And this industry, in particular, has been agile and adapted to these changes in the past.

Further, these were the predictions for 2020. According to Deloitte Global, by the end of 2020, 50% of adults in developed countries would have had four or more online-only media subscriptions [1]. Despite the global disruption, fixed broadband would have reached a billion households in 2020. Data consumption was speculated, and rightly so, to see strong growth and consumption via smartphone was expected to witness its largest jump [2].

The pandemic has accelerated these predictions. New habits are being formed and other digital screens have become the staple for education, entertainment, and news. Now, If we talk about streaming services alone, at the peak of nationwide shelter-in-place orders across the U.S., the weekly time spent watching connected TVs rose to more than 1 Bn hours. And such high levels of connected TV viewership is expected to continue in the new normal [3].

While the pandemic brought a boom in the consumption of media, it also limited the M&E industry’s fuel — the creative and operational workforce of the industry and thus it impacted the ability to be agile in a restrictive work climate. It’s not just the audience that is distributed, the creative and production units are too. The production teams are locked up in their homes impeding the creation and delivery of fresh content, leaving a difficult-to-address gap in the demand and supply chain of this industry. Theatres, studios, production houses are shut down. Even in cases where the operations do continue, only a few employees are able to operate in an office or a studio supported by colleagues from remote locations. This inability to brainstorm from the same room, see an idea take shape, and execute it — is turning out to be one of the weakest links in the supply chain of content today.

But pausing production is definitely not an option for Media and Entertainment companies

At the beginning of 2020, Ernst and Young conducted a survey of over 350 Media and Entertainment industry leaders across the world — from various sub-industries. About 25% of the leaders said transforming IT systems is critical to achieving their strategic goals [4]. We can positively expect an increase in this number if we re-conduct the study now.

The audience is digitally equipped to consume content. It just follows that the editors, content creators, and producers are connected in a digital web of work, no matter what their physical locations may be.

The question is no more about whether M&E companies need to take the digital route to be in business. The question is how to connect your distributed teams with a coercive digital work platform where work happens the same way it happened in an office or onsite.

A simple solution — run efficient behind the scenes through a digital workspace

Now, providing or setting up a digital workspace to the employees is as important as providing a digital experience to your audience. It is imperative to meet the skyrocketing demand for content and entertainment.

A digital workspace is also an opportunity. Cloud technology leads to process efficiency, which in turn will lead to lowering of the gestation period of your content. Your teams will get more creative freedom and time as they won’t be tied up in IT maintenance and unscalable tools. And it secures you against any possible future disruption.

You will need an all-in-one secure cloud collaboration platform

Modern work needs to do away from disconnected tools that slow down work. A cloud suite that has tools to address all work use cases at one place saves money otherwise spent on multiple licenses, increases productivity, fosters communication, strengthens security. It also enables scale, and motivates your teams to get work done in a more meaningful way. And, the pandemic has reinforced the criticality of using such efficient tools to build your digital workspaces.

The formula for ‘Engaged Audience’: Idea + Talent + TECHNOLOGY

If 6 in 10 employees in your company agree to have materials and equipment to do work the right way, then you could realize an 11% increase in profitability, a 32% reduction in safety incidents, and a 27% improvement in quality [5].

Now imagine the impact of enabling 100% of your employees with the right work tools. Ideas and talent need technology today to realize their full potential and it is time to give your talent the digital workspace that fosters creativity and connectedness.

Making work meaningful for your employees and your audience is critical. Listen to these podcast episodes that talk about how you can make work more meaningful.

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Sources
  1. The future of media and entertainment: Tackling digital transformation through experimentation. Natasha Wahid, 2020.
  2. Outlook segment findings, PwC.
  3. COVID-19: TRACKING THE IMPACT ON MEDIA CONSUMPTION. Neilson, 2020.
  4. How are media and entertainment businesses reinventing in an age of transformation?. John Harrison, Martyn Whistler, Anu Goyal, Ernst & Young, 2020.
  5. Creating the Ultimate Workplace: 12 Elements of Employee Engagement. TTI Success Insights, 2019.