The Media Business in 2020
Identifying drivers of change
Media & Consumer Electronics | Future Brief | New Business Concepts
Situation
How will digitalization, globalization, micro-segmentation and other phenomena change the media business in the next 10 years? This was the big question we were asked by a major global media conglomerate who was in the process of redefining its corporate strategy.
Approach
We set out to map the most important technological, societal and market related trends. Obviously the scope of this investigation was quite broad. Through expert interviews, ethnographic research and desk research we identified 95 specific drivers, each with the potential to change our client’s markets, client base and business models. Using a bottom-up approach, we aggregated drivers thematically to make the massive amounts of data more manageable. In order for the client to be able to prioritize and take action, we assessed the probability of the change drivers and their impact on the media business. Based on this we described key future scenarios for the different business areas and, finally, a number of concepts addressing the challenges and opportunities of those scenarios. The concepts varied from new products and technologies to alternative business models and distribution systems.
Outcome
The project gave our client a combined quantitative and qualitative foundation for high-level strategic development. Thus, the future has become more tangible and our client’s strategic decisions grounded in emerging and future market needs and opportunities.
How will digitalization, globalization, micro-segmentation and other phenomena change the media business in the next 10 years? This was the big question we were asked by a major global media conglomerate who was in the process of redefining its corporate strategy.
Approach
We set out to map the most important technological, societal and market related trends. Obviously the scope of this investigation was quite broad. Through expert interviews, ethnographic research and desk research we identified 95 specific drivers, each with the potential to change our client’s markets, client base and business models. Using a bottom-up approach, we aggregated drivers thematically to make the massive amounts of data more manageable. In order for the client to be able to prioritize and take action, we assessed the probability of the change drivers and their impact on the media business. Based on this we described key future scenarios for the different business areas and, finally, a number of concepts addressing the challenges and opportunities of those scenarios. The concepts varied from new products and technologies to alternative business models and distribution systems.
Outcome
The project gave our client a combined quantitative and qualitative foundation for high-level strategic development. Thus, the future has become more tangible and our client’s strategic decisions grounded in emerging and future market needs and opportunities.
