Summary of the Media and Entertainment Industry
The global media and entertainment industry comprises of several individual sub-segments that combine to form one vertical – television, publishing, internet, advertising, radio, gaming, and music. Currently, the media and entertainment industry is experiencing a massive transformation owing to the coexistence of old and new organizations. Also, factors such as digitization, interactivity, technological advancements, multiple channels, and globalization have remodeled the global media and entertainment industry landscape over the last decade. The emergence of Social, Mobile, Analytics, and Cloud (SMAC) and the new generation in technology are considered to be the catalysts bringing about a change in the media and entertainment industry.
The industry also faces challenges in the form of multiple external factors – internet access, consumer analytics, clickstream analytics, and cloud storage among others. To an extent, social media has also been instrumental in shaping the current media and entertainment industry’s outlook.
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Also, the ever-increasing consumer demands for improved quality, faster download speeds, and voice quality make it important for broadband service providers to select connectors that have been through vigorous testing and can help prove their efficiency. Moving away from the technical perspective, there as several other factors affecting the market’s growth and require immediate rectification to sustain themselves amidst the rising competition.
- Digital Transformations: Thought digitization may pose certain challenges for players in this sector, digital transformation will be the key to survival in the upcoming era. Also, by investing in digital capabilities, companies operating in the media and entertainment industry can augment their capabilities and offer better services to their customers.
- New Monetization Options: The changing market dynamics have forced media and entertainment companies to clip their advertising-dependent revenue. Ad blockers, sponsored content, and paywalls are key factors limiting their ability to generate ad revenues. To remain competitive media and entertainment firms will have to implement better strategies to blend content and revenue and acquaint with modern monetization methods that are less intrusive to the core user experience.
About the Client
A leading media and entertainment industry firm.
To identify the key performance metrics, the client – a leading media and entertainment firm – approached Quantzig to leverage digital analytics and gain insights into clickstream data to analyze the relationship between various marketing channels. The client wanted to enhance and optimize their marketing performance on an individual channel basis as well as cross-channel. Furthermore, with the help of digital analytics, the client wanted to develop a closed-loop structure to prove the positive impact of analyzing clickstream data on sales.
Summary of Our Digital Analytics Engagement
With the help of Quantzig’s digital analytics solution, the media and entertainment industry client gained a unified view, which helped them build a workflow that best fits their organization. Additionally, the team seamlessly integrated data across several marketing channels. Also, analyzing clickstream data helped them in identifying the key performance metrics, facilitating better strategies, and enhancing sales.
To know more about how our digital analytics solution helped the media and entertainment industry client. Speak with our analytics experts for more information now.
Digital Analytics Solution Insights
Quantzig’s digital analytics solution help firms in the media and entertainment industry to analyze clickstream data and accurately predict customer behavior. It also helps consolidate data from several sources to gain an in-depth understanding of the customers; thereby, facilitating the development of better strategies.