Greetings from a time when Saturday mornings were reserved for animated adventures on TV and rewinding VHS tapes was an essential skill. As a seasoned explorer of the pre-internet era, where the thrill of entertainment often involved physically changing the channel or meticulously adjusting tracking on a video player, the current trajectory of the Media & Entertainment (M&E) industry feels nothing short of a space odyssey.
Fast forward to 2023! In the era of anticipating the first human steps on Mars, the Generation-I finds itself yearning for more than just passive consumption. The challenge now is not just about reaching new heights but engaging the entire Population Earth, minus 25 brave astronauts, in this cosmic voyage.
How do we bridge the gap between 25 physical human forms and the boundless minds of 10+ billion virtually connected souls? Enter the realms of augmented and virtual reality, where digital twining promises to turn each of us into virtual astronauts, exploring the Red Planet from the comfort of our earthly abodes.
In this edition of This Week in Consulting, we embark on an exploration of the top trends that define this brave new world. Immerse yourself in the technological marvels that are reshaping the landscape. Discover how AI and automation have become the architects of content and engagement methodologies, propelling us into an era where personalized experiences are the norm.
From the explosion of user-generated content to media companies embracing collaboration over competition, witness the metamorphosis that has contributed to the double-digit growth of 2023. Join us as we dissect diverse consumer trends, unravel the mysteries behind technological advancements, and decode the secrets to the industry’s success.
We invite you to take a deep dive into the insightful articles and research reports that await you. Enjoy the read, and as always, share your thoughts. We are all ears, tuned in to the echoes of your reading experiences.
Chairman Consulting Quest
This week’s must read
In this edition of This Week in Consulting, we embark on an exploration of the top trends that define today’s brave new world of Media & Entertainment.
BCG’s report outlines esports, organized multiplayer video game competitions distinct from traditional sports. Despite rapid growth, challenges like unified regulations and broader game diversity persist. The Middle East, with rising gaming adoption, displays esports promise through investments and support.
This week’s media
Salesforce’s video explicates challenges in Media & Entertainment—escalating consumer expectations and operational hurdles. Solutions encompass revenue diversification, leveraging user-generated content, embracing Web 3, enhancing AI, and data integration. 350 global experts validate these trends crucial for media success.
Wipro’s analysis unveils a transformative phase in the Media and Entertainment (M&E) industry driven by digital media’s dominance. Customer-centric strategies, propelled by digital shifts, shape initiatives, while AI and automation revolutionize content and engagement methodologies.
Deloitte’s 2023 media and entertainment industry report spotlights five interwoven trends: streaming, social media, gaming’s influence, and industry evolution. Companies must strategize comprehensively as streaming competes with abundant social content, and gaming shapes entertainment strategies and communities.
In Infosys’ article, the Media and entertainment industry faces the challenge of enabling global engagement in Mars exploration. Generation I seeks immersive experiences, urging innovation. Adaptation, embracing augmented reality, co-creation, and tailored experiences, is crucial for redefining entertainment.
In EY’s report, India’s Media & Entertainment sector thrives on diverse consumer trends and technological advancements, achieving record revenues in 2022. Tailored strategies for each consumer segment mark an era of diverse content consumption, fostering a projected 11.5% growth by 2023.
This week’s consulting news selection
UES, a prominent engineering firm, acquires InControl Technologies, expanding its environmental focus. This strategic addition strengthens UES’ capabilities and commitment to sustainable development across its national services.|
Innover appoints Raju Rampa as Chief Growth Officer to lead global Sales and Partnerships teams. Raju will drive revenue, profitable growth, market expansion, and customer-centricity, supporting Innover’s strategic expansion in the US market.|
BPA and TMP unite to enhance building engineering expertise, solidifying their position as industry leaders. The partnership fosters growth, expands services, and emphasizes sustainability.|
Sikich acquires Golden Trail Advisers, enhancing wealth management services. New experts join, aiming to serve clients better, offering comprehensive solutions.|
Laurent is the Chairman and Co-founder of Consulting Quest. Focused on greater value creation, and being thoroughly familiar with Consulting, Laurent has sourced and sold millions of dollars worth of Consulting over the course of his career. Prior to joining Consulting Quest, Laurent was Executive Vice President Oil and Gas at Solvay and Senior Partner Transformation at Oliver Wyman.