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Game Not Over: How the Media and Entertainment Industry Can Survive the Downturn
Publish Date: December 9, 2008
Author(s): Chahine, Gabriel; Künstner, Thomas; Vollmer, Christopher
Abstract: The global financial crisis has wrought havoc on the media and entertainment industry, especially the sectors most dependent on advertising and consumer spending. The lack of liquidity in credit markets and the declines in consumer spending will not be fixed overnight. Consumers will eventually start spending again, but the recession will leave behind profound changes in media consumption and shopping behaviors. In this challenging period, there are clear priorities for media companies. First, they must rise to the structural challenge facing them and accept the fact that they must reinvent their business models. Media sales need to become more targeted, data-driven, and marketer-oriented. Costs must be reduced. And the resulting savings need to be invested in capabilities and assets that will drive the next generation of growth.
Related Industries: Media & Entertainment
Related Expertise Areas: Marketing & Sales
