M+E Connections
Cognizant Paper Offers Strategies for M&E Execs
Story Highlights
Professional services firm Cognizant has debuted a new white paper geared toward media and entertainment executives, offering them advice on strategies to adopt in order to build a more sustainable, profitable businesses long term.
The paper — “Competing to Win in the Media and Entertainment Industry” — promotes a different focus for M&E execs on how to become more profitable, shifting away from tactical cost reduction, to a more strategic, targeted approach to impact bottom lines.
“Now more than ever, the media and entertainment (M&E) industry is under the spotlight. While the global pandemic has given many parts of the sector a boost in terms of consumer habits , with increased screen time resulting in higher demand for content, the longer-term trends are worrisome. A deep-rooted structural shift has led to a steady decline in net margins — a 14 percent CAGR decline over the last five years; the growth in digital services and the presence of agile competitors suggests that these challenges are far from over,” the report reads.
“There are answers, however, for beleaguered CFOs and COOs across the M&E sector who are tasked with bringing their companies through these tough times. The central tenet is that old-fashioned, straightforward cost-cutting won’t work. Instead, a more strategic approach is needed.”
The report details ideas on how to remain competitive, including:
• Reimagine costs
• Reduce cost creep
• Make technology a game-changer
• Rebuild costs from the ground up
• Harmonise and consolidate core operations
• Build one aligned operating model
• Evaluate the existing asset base
To access the free report, click here.
