{"id":1696,"date":"2016-01-26T08:53:58","date_gmt":"2016-01-26T08:53:58","guid":{"rendered":"https:\/\/blog.swat.io\/?p=1696"},"modified":"2022-03-17T17:33:06","modified_gmt":"2022-03-17T15:33:06","slug":"how-digital-transformation-impacts-the-media-industry","status":"publish","type":"post","link":"https:\/\/swat.io\/en\/strategize\/how-digital-transformation-impacts-the-media-industry\/","title":{"rendered":"How Digital Transformation Impacts the Media Industry"},"content":{"rendered":"\n

Is digital transformation changing traditional media?<\/span><\/h2>\n\n\n\n

Digital is oftentimes perceived as a transformational wave consisting of both opportunities and threats and forming the ecosystem in which we conduct our daily activities, work and play. In the digital world, technology is changing at high speed while consumers are the ones making and breaking the rules of the game. In this context, every business becomes digital and thus requires a digital focus in all business processes and functions.<\/span><\/p>\n\n\n\n

In what concerns the media industry, digital transformation appears to be heading mainstream. The rapid advancements in technology<\/a> \u2013 coupled with the endless opportunities brought by digital video \u2013 enable new players to enter the market and build disruptive business models that destabilize traditional media companies and attract audiences in no time.<\/p>\n\n\n\n

Meanwhile, existing players rely on partnerships, acquisitions and new service offerings to secure their position in the ever changing media landscape.<\/p>\n\n\n\n

As traditional business models are gradually substituted by both emerging startups as well as  digitally transformed existing players, media companies need to develop new digital-based business strategies to be able to compete and retain their audiences. Those lagging behind now may never have a chance to catch up.<\/p>\n\n\n\n

There are three key aspects which will highly impact the media and entertainment industry as part of this huge digital transformation wave.<\/span><\/p>\n\n\n\n

New digital channels are on the rise<\/span><\/h2>\n\n\n\n

Despite traditional broadcast models which still represent the largest share of the industry, digital channels are clearly on the rise<\/a>.<\/span><\/p>\n\n\n\n

With video becoming a digital-first product, we\u2019re about to witness a decline in old business and delivery models. <\/span>Players from outside the traditional broadcast industry are using video to drive other revenue streams<\/span><\/a>. Meanwhile, online video content is slowly changing consumers\u2019 expectations regarding price and value, since they can oftentimes access it for free, without the need for a paid subscription.<\/span><\/p>\n\n\n\n

\"digital_transformation\"<\/figure><\/div>\n\n\n\n

In this context, digital transformation becomes necessary for traditional media companies who find it ever more difficult to achieve a return on video services and content.<\/span><\/p>\n\n\n\t\t\n\t\t\t

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