Structural Imbalance and Stabilisation of the Media Industry

More content creators, more control residing with content consumers and the rise of technology means resource availability could, for the short-term become less predictable. By reinforcing the agility and resilience of their technology stack, media providers can flex with the challenges and the limitations that the market will see in the coming years. 

The change within the media industry is causing widespread upheaval. Control is shifting, consumer expectations are changing, metrics are evolving and competition, increasing. With pressure on both the supply and demand side of the media industry, we must prepare for a degree of short-term instability.

An influx of new creators and a shift in consumption habits, will inevitably lead to fluctuations in media content quality, volume and demand. Over time, the market is likely to stratify.

When it does, those with its data ducks in a row and ready to go will be those who stand to gain ground in the growing $ multi-trillion media industry.

The dust hasn’t settled yet, and there are still some shifts but despite the unknowns, there are some things media organisations can do now to prepare to thrive in the new world media landscape:

1. Build strong data foundations

   Data is the cornerstone of modern media operations. Organisations must consolidate fragmented data sources, ensure accuracy and establish a single source of truth. Without this foundation, the potential of AI and advanced analytics cannot be fully realised.
   
   The key is to first understand where your data is and where you need to get it to in order for it to be used effectively. Data cleansing and validation can be time-consuming, and it may be tempting to capitalise on shortcuts, but with AI- and ML-powered solutions, sorting through thousands of records for inaccurate, incomplete or obsolete data doesn't have to be the chore that it once was. 
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3. Modernise technology infrastructure

   Legacy systems are increasingly unable to support the complexity of today’s media environment. Investment in scalable, integrated platforms is essential to enable innovation, improve efficiency and support future growth.
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5. If you feel your legacy system is holding you back, planning is essential. You need a solution built on a resilient and stable core; one that is prepared to bend and flex with the market and consumer demands. Migration projects are both complex and time-consuming, and planning a project is preferable to having to act fast to facilitate continuity at a later date.  
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7. Optimise cost management

   Rising competition and production costs make financial discipline more important than ever. Organisations must leverage technology to identify inefficiencies, maximise returns and reinvest strategically. Solutions such as Procure-to-Pay will help organisations make sense of complex cost management situations.
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9. Strengthen governance and security

10. Robust data governance and cybersecurity measures are critical to maintaining trust and ensuring compliance. This requires ongoing investment and a proactive approach to risk management. When using a resource like S/4HANA, which brings together your data in one place, it becomes easier to understand and manage the data you have, and to see what needs protecting.
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12. Focus on value creation

13. Ultimately, success will be determined by the ability to deliver value to both audiences and advertisers. This means moving beyond volume and focusing on relevance, engagement and measurable outcomes. If you don’t have reliable and robust data collation processes in place, or the capabilities to understand how this data converts to real-life insights and actionable measures, then a pre-programme like Ignite can help you to understand the best way to bring together your data and extract valuable information.

By shifting your focus to the needs of tomorrow, and away from the chaos of today’s spaghetti-western style media industry, you can prepare to thrive and take the lead in the new media environment where the stakes are high, but for those plugged in, the rewards are higher.

Learn more about S/4HANA.