Media and Publishing are in disruption. New competitors with new business models arrive everyday and incumbents choose to ignore the new players or to flee to higher-margin activities. This industry is ripe for disruption because low barriers to entry lead to more agile competition and incumbents have large legacy business models which generate the majority of their revenue.
To compete and win in today’s world Publishers need to transform and become customer centric. Customer centric means being more tailored and personalized across everything you do; from sales strategy to product development.
No other industry has so many new product introductions.
Competitors are becoming increasingly sophisticated - with nontraditional business models that are gaining acceptance.
The number of publishers who closed their doors permanently is up 42% on last year.
72% of Media executives anticipate massive disruption in the next 12 months.
The last few years have seen some tough trading conditions, with consumer spending very sluggish and difficult conditions on the high street.
It's easier to reach out to readers but more difficult to make money.
The current pattern of disruption is familiar to what other industries have experienced: New competitors with new business models arrive; incumbents choose to ignore the new players or to flee to higher-margin activities.
I can’t imagine any single sector that has been more disrupted or forced into more change than the media and entertainment industry over the past few decades.
The digital revolution is expanding the number of products and sales channels but not increasing sales.
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