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Introduction The media and entertainment industry is transitioning dynamically, driven by the challenges and opportunities afforded by the digital revolution. According to the U.S. Census Bureau and Zapdata, the media and entertainment industry consists of more than 130,000 establishments that generate revenues exceeding $620.7 billion and employ more than 1.8 million people in the United States. Significant opportunities exist within this industry for organizations involved in serving their digital document and dynamic content management needs. Top 3 Industry Trends to Capitalize On In the coming year, the media and entertainment sector will remain focused on understanding the ramifications of digital technology on its business, evaluating ways of maintaining control of content and audiences, and assessing the role of new and emerging delivering venues on its business model. This scenario will create opportunities for providers of digital document and content management processes, allow them to expand into online media and publishing channels, create products and services that help implement new business models, grow revenue streams, reinforce customer relationships, and leverage content. First, digitization is crucial throughout the media and entertainment sector as all new distribution channels are predicated on the digital management and transmission of products, be it broadcasting or publishing. Web publishing, online newspapers, interactive television, and downloading music all require digital formatting. To acquire firsthand information on events, journalists and production facilities are often remotely located. To produce quality programs and products, companies in this business must rely on a collaborative production process whereby materials and information can be readily transmitted, accessed, analyzed, and assimilated by researchers and writers, journalists, editors, and producers from their desktops or Blackberries. Furthermore, completion of a project is always driven by a deadline. Businesses within this sector of the media and entertainment industry will benefit from document and content management companies with expertise in digital technologies and processes that help integrate and streamline content management and workflow. Second, the advent of digital technology is creating opportunities for companies in the media and entertainment sector. New revenue streams are now possible with the conversion of legacy materials – books, video tapes, audio recordings, analog news articles, and photos – into digital format. Once digitized and digitally archived, the legacy documents are more readily accessible and transmittable, creating market opportunities available through new, expanded distribution channels. Digital document and content management businesses are needed to assist in the creation of a digital infrastructure for these future business opportunities. Third, piracy and the protection of intellectual property are of paramount importance to media and entertainment companies. As the business of producing movies, news, and music becomes increasingly collaborative, the need to handle proprietary materials in a confidential and secure manner is becoming essential. An added layer of complexity emerges as more and more material is communicated via the Web. Media and entertainment companies will benefit from products and services provided by digital document and content management providers that have experience in developing safe document workflow products and practices and managing secure electronic environments. These capabilities – understanding the implementation and exploitation of digitization throughout the business and distribution process, implementing measures for security, creating a dynamic position relative to global markets, and adopting measures that streamline and optimize workflow – are core to the document and content needs of the media and entertainment industry. Sales personnel should clearly understand the value proposition associated with these products and services and be able to recognize opportunities and articulate solutions for business problems against which these services can be applied. The preceding is an excerpt from InfoTrends’ report entitled “Media and Entertainment Industry: The Document Services Opportunity.” The complete document is available immediately. To learn more about the report or to make a purchase, visit our online store or contact Nicole Shown at +1 , ext. 207 or . Copyright © 2007 InfoTrends. All rights reserved. Reproduction or reuse of InfoTrends materials is strictly prohibited without prior written consent. If you are interested in referencing InfoTrends’ content, please submit your request to . |
