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entertainment industry

Major Challenges Facing the European Entertainment Industry

The European entertainment industry is growing at an unprecedented rate, and several companies are finding it difficult to keep up with the pace. Challenges arise due to the growing pressures to keep the costs down while trying to improve revenues and the highly fragmented media consumption habits of customers. The trend of one big company dominating the market is gradually fading away, providing an opportunity for small players to complete successfully. One of the most significant trends observed in the media and entertainment industry is the shift in media platforms from traditional channels to online mediums. As a result, it paves the way for the European entertainment industry to implement big data analytics technology to gain more profound audience insights.

With new sources of data available to the media and entertainment companies every day, they can efficiently understand customer needs and deliver the right content to address the needs of the audience. However, with the rapid adoption of digital technologies, the entertainment industry is poised to face critical challenges that may slow down their progression. In this article, we have listed major challenges facing the European entertainment industry, a knowledge of which can help media and entertainment companies to adopt a smart approach and stay ahead of the curve.

Quantzig’s big data analytics solutions help companies in the media and entertainment industry to develop the best promotional and product marketing strategies to attract and retain customers. Request a free brochure of our analytics solutions right away to gain better insights!

Challenges Facing the European Entertainment Industry

Challenges in the European Entertainment Industry

Data privacy concerns

Today consumers are being more sensitive towards their data and are concerned about how their data is being used. Additionally, policymakers have also addressed their issues and have implemented regulations for businesses that handle personal data. Such challenges can pose problems when it comes to accumulating sufficient user data, without which accurate analysis cannot be performed.

Our big data analytics experts can help you analyze digital media consumption patterns and behavioral data that can help you provide personalized experience to your consumers. Talk to our analytics experts now. 

Lack of financial muscle

One of the most significant challenges in the European entertainment industry is the lack of financial muscle for media start-ups and SMEs. While accounting for cost factors to implement data analytics, companies in the European entertainment market need to look at various factors including data storage costs, infrastructure costs, data processing costs, and human resource costs. Although it is easy to start a new company producing content, games, or apps, it can be tough to scale up without significant investments. Thankfully, the advent of cloud storage and SaaS solutions have provided a way out for start-ups and SMEs.

We offer customized analytics dashboards that can help media and entertainment companies to increase digital conversion rates by offering micro-segmentation of customers to their advertising networks and exchanges. Gain limited-time complimentary access to our analytics platform today.

Piracy, copyrights, and account sharing

Piracy and copyright issues have been a major area of concern in the media and entertainment industry for a long time. However, the advent of the digital medium has created a new challenge of account sharing. For the majority of video streaming sites, a large number of people gain access by sharing account information and passwords. Analysts will have a tough time performing analysis on customer preferences as they cannot pinpoint the demographic details of the user. Both the child and the adult may be using the same account, so an effective judgment is impossible on whether the child or the adult prefers a specific genre.

Learn more about the challenges and opportunities in the European entertainment industry

entertainment industry trends

Entertainment Industry Trends: What’s in Store for 2020?

The entertainment industry is evolving at an unprecedented rate globally. However, this industry is facing several challenges due to factors such as increased pressure to improve the consumer experience. Moreover, the shift in the consumer demand for personalization is putting constant pressure on entertainment companies to drive innovation and embrace new technologies. This is the reason why companies need to keep a closer watch on the latest entertainment industry trends to withstand contingencies and capitalize on new opportunities at the right time. In this article, we have curated a list of entertainment industry trends that are going to impact the business operations of entertainment companies in 2020. Also, keeping track of these trends will help entertainment companies to drive profitability and improve the consumer experience.

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MEDIA AND ENTERTAINMENT INDUSTRY

Entertainment Industry Trends 2020

Growing popularity of artificial intelligence

Like many other industries, the entertainment industry is poised to witness a major transformation due to the advent of new technologies such as artificial intelligence and virtual reality.. With the help of artificial intelligence, companies in the entertainment industry will be able to make personalized recommendations based on consumer habits. Also, it will make the process of content creation more efficient for entertainment companies. Furthermore, by using artificial intelligence, companies in the media and entertainment industry will be able to quickly create new ads and movie trailers. Additionally, this will help in streamlining pre- and post-production processes, making all steps more cohesive and less resource consuming.

Analyzing large data sets is one of the biggest problems affecting the business outcomes of entertainment companies today. Talk to our analytics experts to know how to stay ahead of the curve with the help of analytics solutions.

Influence of virtual and augmented reality

Virtual and augmented reality is one of the entertainment industry trends that is already captivating the attention of consumers. Virtual and augmented reality has made it possible for consumers to interact with brands. For example, on registering with many applications, users get points that can be redeemed in the next subscription cycle. This also helps in improving consumer engagement and boosts the commercial success of companies in the entertainment industry.

At Quantzig, we understand various challenges that media and entertainment companies face in analyzing the feasibility of analytics solutions for their business. Our analytics solutions are tailor-made to suit the requirements of each business. Gain limited time complimentary access to our analytics platform now to explore new opportunities.

Booming blockchain technology

This is one of the trends that can radically change the entertainment industry. Blockchain is one of the emerging entertainment industry trends because it can help companies that are financially robbed by distributors and labels. With the help of blockchain technology middlemen can be removed from the distribution channel and can offer a more equitable system for creators, producers as well as consumers. Furthermore, it can help in bringing in decentralization and efficiency to the entertainment landscape.

Learn more about the entertainment industry trends and technologies that are going to impact your business in 2020.

IR17

Top 3 Ways Advanced Analytics Can Transform Media and Entertainment Industry

Art and science are often seen as two different entities, especially with art exploring what gives it meaning and science focused on explaining how the world works. But today, the trend in the media and entertainment industry to link the two and get better returns by using technologies like advanced analytics, the Internet of Things (IoT), artificial intelligence (AI), and machine learning is growing. In this competitive era, companies in the media and entertainment industry are also facing the heat of increasingly competitive and uncertain markets. The growing focus on data-driven marketing and digitization has induced a revolution in the media and entertainment industry on how it uses advanced analytics. The future of the media and entertainment industry is dependent on the fusion of both digital and analytical solutions. Now, enterprises are eager to transform media platforms in order to provide more personalized content to its audiences. In this article, we have offered a detailed insight into how advanced analytics can revolutionize the media and entertainment industry and how it can be a palpable game-changer in the current circumstances and dynamics of the quickly changing world of media.

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IR13

Marketing Analytics for a Smart TV Manufacturer Helps Re-Prioritize Product Offerings

What the Client Wanted

The client – a leading smart TV manufacturer wanted to seek ways to monitor marketing campaigns and understand their overall sales performance.

The Outcome

The client effectively measured and optimized their marketing activities and streamlined efforts to improve sales performance.


Smart TV Market Overview

The fluctuating consumer preferences toward online content as a result of the growing proliferation of high-speed internet across the globe is providing an impetus to the smart TV industry growth. Moreover, the increased popularity of smart TV has affected the cable TV market as well as the set-top-box and the conventional entertainment platforms, especially in the developed countries. Request ProposalIn contrast, the growing demand for online streaming has opened prospects for service providers to venture into the Over the Top (OTT) space and dispense content via the Internet.


Industry Challenges

User Interface and experience: Smart TV manufacturers need to provide a user interface that addresses each device’s characteristics while centrally maintaining the DNA and intelligence of the service to avoid dependence on specific client technology, which may or may not be around in the coming years. This is becoming increasingly important as the life of technology tends to deteriorate at a rapid pace.

Smart TV with a shelf life: With a large number of specifications, technologies, and smart TV devices emerging in short span of time, there will be resistance from mainstream consumers to commit on getting a new or replace an existing one until the ground settles. This becomes a major concern for smart TV manufacturers.


About the Client

An American privately-owned company that develops consumer electronics. The client is best known as a major producer of flat-screen smart TV in America.

Client’s Challenge

With the help of marketing analytics, the client wanted to seek ways to monitor their marketing campaigns and understand the overall sales performance. The client also wanted to gain insights into the customer preferences and perception about new products to penetrate across different market segments and enhance their product offerings. The smart TV manufacturer was also battling challenges such as revenue stagnation, Request Solution Demopricing pressures, and intense competition – and wanted to devise robust business models to stay relevant in the entertainment industry space.


Summary of our marketing analytics engagement

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Business Impact

With the help of Quantzig’s marketing analytics engagement, the smart TV manufacturer was able to diagnose deficiencies in their specific channels and accordingly make adjustments to strategies to enhance their overall marketing program. Additionally, to establish their strong presence in the entertainment industry, the smart TV manufacturer also identified ways to re-prioritize their product offerings and launch new products in niche market segments. The engagement further assisted the client in determining the true ROI of their marketing activities in terms of social media and email marketing success.

Marketing Analytics Solution Insights

Quantzig’s marketing analytics solutions help companies in the entertainment industry to better understand price and promotional strategies to enhance their business performance. Companies can also engage customers in real-time, understand them, and predict trends in their behavior. Furthermore, smart TV manufacturers can leverage the analytics data to make better make use of their resources across their businesses.


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customer analytics in retail

Online Retailing Firm Leverages AB Testing to Identify a Winning Combination of Elements for Successful Product Sales

What the Client Wanted

Create better value for customers.

The Outcome

Increased ROI in terms of both short and long-term conversions.

Summary of the Online Retailing Industry

The global online retailing industry has been a billion-dollar market for many years now. Growing penetration of internet services coupled with the easy availability and access to unlimited products on the internet is expected to keep the growth prospects upbeat in the coming years. Additionally, investing extensively in R&D to meet the rising demands of the consumers – Request Proposala trend that is expected to increase revenues and value in the future for online retailing firms – will help online retailers to sustain themselves in the market.

Industry Challenges

Targeted advertising: Today, online retailing firms have started opting for targeted advertising strategies to maximize ROI by targeting the potential customer segments. Targeted advertising helps companies to gain a better understanding of their target market and achieve better results. Therefore, it is decisive for companies in this industry to adopt targeted advertising. 

Retaining customers: Due to the presence of numerous competitors, online retailing companies have started offering a considerable number of choices to the customers. Customers of today are more demanding and are looking for products that meet their cost and quality expectations. Therefore, it is essential for the organizations to maintain consistency in their product offerings.


About the Client

A leading online retailing company headquartered in the United States.

Client’s Challenge

The online retailing firm wanted to create better value for their customers by comparing variations of their offline and online campaigns such as ad texts, call-to-actions, headlines, and landing pages. The client was facing challenges in measuring the value of their marketing and advertising campaigns. As a result, they wanted to eliminate guesswork and find a perfect advertising combination.


Summary of our AB testing engagement
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Business Impact

With the help of Quantzig’s AB testing engagement, the online retailing client identified a suitable advertising combination that helped them reduce cart abandonment and encouraged more visitors to complete the checkout process. Additionally, the client identified the version (A or B) that their visitors and customers would find most engaging. This, in turn, helped them increase ROI in terms of both short and long-term conversions.

AB testing Solution Insights

Quantzig’s AB testing engagement helps firms in the entertainment industry to avoid unnecessary risks by allowing them to target their resources for maximum effect and efficiency. AB testing also aids companies in identifying a winning combination of elements that keeps visitors on the site long enough and provides them with a better value of content which would ultimately lead to a sale.


To know more about how our AB testing engagement helped the online retailing client

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Customer Segmentation Analytics

Big Data Analytics Helps a Leading Gaming Industry Client to Improve Customer Engagements

The client: Gaming industry player

Area of engagement: Big data analytics

The global gaming industry is expected to witness remarkable growth over the next few years owing to the technological proliferation and innovation in both hardware and software segments. Growing penetration of Internet services, coupled with the easy availability and access to games on the Internet, are also expected to keep the growth prospects upbeat over the coming years. Additionally, the rising inclination to shift from physical games to online games has compelled gaming industry firms to increase their focus on hardware compatibility and efficiency. Furthermore, massively multiplayer online (MMO), free2play (F2P), and multiplayer games have progressively gained popularity – a trend that is anticipated to gain massive traction in the coming years.

However, our analysis of the global media and entertainment industry shows that companies in the gaming industry are facing challenges in terms of:

  • New business models: Today, several business models and new kinds of gaming modes have entered the market. Moreover, advertising costs are also playing a crucial role in determining if the game is offered for free. As a result, these newer business models are expected to disrupt the existing structure.
  • eSports: eSports attracts more viewers each year through new means of broadcasting such as streaming services, and as a result, the general public is becoming more and more aware of the eSports phenomenon.

Many such factors are compelling companies in the gaming industry to leverage the use of big data analytics. QZ- Request free proposalBig data analytics help firms in the gaming industry space to create customized products and services and facilitate effective loss prevention. These solutions also help firms gain actionable insights into ways of enhancing the overall customer experience.

The Business Challenge

The client, a leading gaming industry player with facilities spread across the globe, wanted to collect, cleanse, format, and model data to get a clear picture of how their users interact with their games. The client also wanted to address customer challenges by modeling and visualizing massive amounts of heterogeneous data.

Want to learn more how about our analytics solutions helped a leading gaming industry player?

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The Solution and the Business Impact

With the help of Quantzig’s big data analytics solution, the gaming industry client improved consumer experience through the proper collection and utilization of data. The client also drove customer engagements by optimizing the consumer’s journey and capitalizing on the best course of advertising to create the strongest conversion rate to sales. Furthermore, big data analytics solutions helped the gaming industry client to improve its product offering for customers.

Big Data Analytics Predictive Insights

Quantzig’s big data analytics solution helps companies across the media and entertainment industry space to enhance the customer experience by innovating their products and devise robust risk management strategies to help them improve their competitive position in the market and make informed business decisions. Furthermore, big data analytics helps firms streamline the purchasing activities of the consumers and proactively track them.


To know more about how our big data analytics solutions help gaming industry players across the media and entertainment industry space

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IR26

Entertainment Industry Opportunities and Challenges You Need to Be Aware of in 2018

Trend prediction for various industries is one of the most trending topics at the beginning of each year. Industry experts keep a close watch on these trends so that they can be prepared for changes and alter their strategies to stay relevant in the market. Also, it is highly essential for businesses to keep a closer watch on the opportunities and challenges that are coming their way. This would help them prepare themselves to withstand contingencies and capitalize on the opportunities at the right time. Given the rapid rate at which content creation, distribution, and monetization is being disrupted in the media and entertainment industry, it becomes critical to focus on the changing dynamics in a more scrutinized fashion. Media companies have no option but to be on their toes and decipher ways to drive customer and brand relevance, strategic growth, and operational excellence. We have decoded a few opportunities and challenges that entertainment industry companies need to be prepared for in 2018:Free demo

Cyber risks

The rallying cry for companies over the past decade has been to “Go Digital.” As more media companies transform themselves into digital businesses, their technologies and the data running through them become the business. Which means that any security breach could have a more massive impact than it would on a company that is less reliant on its digital assets. Hence, for media companies, protecting both content and consumers is now a powerful imperative. Businesses in the media and entertainment industry must seek to prioritize and plan cybersecurity, protect their customers and assets, and undertake ongoing efforts to maintain that focus consistently.

Content is the king

No matter how much money is spent on advertising and promotions, at the end of the day, content is the king in the media and entertainment industry. Moreover, there is increasing competition in the sector to provide premium content and garner more customer attention. Furthermore, several players in the entertainment industry are investing heavily in original content and licensing. This is making content creation and acquisition increasingly challenging for traditional media companies.

Enhancing customer experience

The advent of technology has transformed the way consumers use and experience media. It has also raised the bar of customer expectations in the media and entertainment industry. To engage consumers in new and innovative experiences, media companies not only have to be highly creative but also provide a connected experience to the consumer through data and technology.

Gaining a foothold in the international market

Most companies in the entertainment industry are looking at opportunities to expand their operations and get the international audience hooked on to their content. However, economic nationalism and the prospect of higher trade barriers may impact global strategies. Media companies must also understand that each market requires a distinctive approach and formulate their strategies accordingly.

Adopting the latest technologies

In this technology-driven world, media companies need to embrace the latest technologies to prevent themselves from being deemed obsolete. Businesses in the media and entertainment industry must keep a constant watch on the most recent technological trends and evaluate its feasibility for their firm. Assessing various technologies for the company might prove to be a challenging task considering the capital investment and risk involved. As technology plays far more integral strategic and operating role, it can efficiently power everything from better procurement to more meaningful and actionable business intelligence in this sector.


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Answers to the questions

Quantzig’s Customer Analytics Helps a Renowned Media and Entertainment Client Analyze Their Customers’ Behavior Pattern

The client: Media and entertainment provider

Area of engagement: Customer analytics

Over the past few years, the media and entertainment industry has undergone a major digital revolution. Mergers and acquisitions have been the key factors for the growth of the media and entertainment industry, and the amalgamation of companies in this industry has led to the globalization of media conglomerates. The media and entertainment industry typically consist of radio, film, television, and print. These segments also include radio shows, TV shows, movies, news, newspapers, books, magazines, and music. Companies in the media and entertainment industry space have started increasing their focus on improving their process efficiency owing to the ever-increasing and relentless customer expectations and pricing pressures.

However, a few factors are expected to hamper the growth of the media and entertainment industry. These factors include:

  • Staying relevant in this digital landscape: To remain relevant in today’s competitive landscape, companies within the media and entertainment industry are increasing their focus on moving to a more of an audience-based approach. Additionally, the ability to deliver superior communications and offers are expected to influence the relationship between marketers and consumers in this space.
  • Diversification: Today, media and entertainment industry players are growing at a rapid pace and are expanding their reach to new markets. As a result, it becomes essential for the companies to develop new service lines to optimize their ROI and increase profitability.

These factors are compelling media and entertainment industry players to leverage the use of customer analytics solutions. Customer analytics helps companies identify the most profitable customer segments and tailor their marketing campaigns accordingly to meet consumer demands.QZ- Request free proposal

The Business Challenge

The client, a leading media and entertainment industry player, wanted to understand the customers’ buying frequencies and preferences and gain accurate predictions of their future buying behaviors. They also wanted to analyze the preference for specific offerings. With the help of a robust customer analytics engagement, the client also wanted to target customers with relevant offers and improve their brand affinity.


Capture

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Solution Benefits and the Business Impact

Strategies we recommended based on our analysis to improve loyalty and anticipate customer demands.

With the help of Quantzig’s customer analytics engagement, the media and entertainment firm increased their focus on finding the target prospects with similar attributes, so that they could tailor their marketing campaigns accordingly and enhance business performance. The customer analytics engagement also helped the client identify high-risk customers to minimize customer attrition. Furthermore, the media and entertainment client was also offered actionable insights into ways to build stronger customer relationships.

Customer Analytics Solution Predictive Insights

The customer analytics solution offered by Quantzig helped the media and entertainment firm increase customer lifetime value by delivering a positive customer experience. These solutions also help companies efficiently map their customer journey and enhance loyalty.


Want to know more about the benefits of customer analytics for the media and entertainment industry

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IR2

Supply Chain Analytics for a Renowned Media and Entertainment Industry Client Helps Analyze their Supply Chain Statistics

The Business Challenge

A leading media and entertainment industry client with a considerable number of offices spread across the globe was facing predicaments analyzing their supplier chain statistics. The client wanted to leverage the use of supply chain analysis to deliver better quality services cost-effectively. Furthermore, the client wanted to redefine and measure their supply chain to increase profitability and measure vendor performance. Also, the client wanted to optimize the existing logistics and route operations to minimize inventory levels and monitor the vendor risk and performance in the media and entertainment space.

Solutions Delivered

With the help of Quantzig’s supply chain analysis, the entertabannerqzinment industry client was able to reduce costs associated with the supply chain and drive sustainable growth. Furthermore, the client was able to develop supply chain strategies to serve the needs of the customers and maximize overall profitability. The engagement also helped the client measure the vendor performance to mitigate future risks. Also, the engagement assisted the client to identify the revenue opportunities and enhance inventory management.

Supply Chain Analysis Predictive Insights

  • Reduce operational costs and manage the content supply chain
  • Identify the best practices and manage digital content more effectively
  • Aid in supply chain rationalization to improve the operational performance
  • Manage demand volatility and the cost fluctuations in the supply chain

Entertainment Industry Analysis

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