Media and Entertainment to Flow Out: Be ready to a Paradigmatic Shift in Business Models
Maybe this pandemic has shifted us from our ‘usual’ models. Just go back and look at the report published by media in the first half of 2020. There was a clear indication that media, entertainment, and platforms are taking the place of traditional industries. Direct attachment to consumers has become a reliable source of business nowadays. Media has the power to inform, educate, and entertain as well.
Accenture’s former CEO, late Pierre Nanterme had said in 2016, “We are seeing the Fourth Industrial Revolution emerge in a series of waves: the digital consumer, who enjoys more interactive and personalized experiences thanks to SMAC (social, mobile, analytics and cloud) technologies; the digital enterprise, which leverages SMAC technologies to optimize the cost of corporate functions and to transform enterprise collaboration for greater productivity; and the emerging digital operations wave.” It seems the time has come when we sincerely look forward to this new model.
Consumption through digital media has gone high compared to 2019 in most of countries. In the US it has risen to 12% within a year. Media can play a major role in reshaping the industries. Even the traditional industries are choosing the path to digitalize them as well.