重新定义媒体行业成功的策略

© Oliver WymanINTRODUCTIONThe media industry has experienced a severe disruption in the last decade driven bytechnology shifts, a change in consumption patterns and increased competition fromplatforms for advertising spend. During these challenging times many leading global mediaorganizations have successfully implemented strategies that have helped them to increaseproductivity and protect margins, develop unique value propositions to stay competitive andintroduce a game changing logic to defend their positions in the face of industry disruption.Exhibit 1: Six strategies used by media organizationsProductivity boost1. Automation driving the redesignof operating processes2. Automation to expand capacityat marginal tech costGame changing5. Leverage your brand and core toexpand into an adjacent nichebusiness experiencing high growth6. Be the first incumbent to embracedisruption and lead the transitionSource: Oliver Wyman analysisIn this article we present six strategies used by top-tier media organizations, explore casestudies and extract key learnings that can be applied to other industries and differentcorporate environments. Unique value proposition3. Develop adjacent products toa hypercompetitive market andbenefit from its drive4. Build a unique position basedon human value supported by Al © Oliver WymanPRODUCTIVITY BOOST STRATEGIES1. AUTOMATION DRIVING THE REDESIGN OF OPERATING PROCESSESThe strategyWhen a company has to replace a legacy technology infrastructure, this can be used as anopportunity to redesign the operating processes and restructure the organization. One wayto perform the migration is through a greenfield approach where the new technology stackis built in parallel and then the functionalities are switched over.The greenfield approach has the immediate benefit that all processes and organizationstructure can be redesigned from scratch to maximize productivity andeffectiveness.Case studyContextA European TV channel was facing structural revenuedecline with a constant cost structure resulting innegative profitsCaseThe management decided to pursue a significanttransformation of the operating model, which includedinvesting in new cloud technology to replace thelegacy systemsOutcomeBuilding the new technology stack with a greenfieldapproach allowed the company to completely redesignthe workflows and optimize all production processes.This resulted in significant cost reductions enablingthe company to reach a path back to profitabilityTV channelKey learningsWhen organizations require to change legacy technology, they should think beyond thereplacement of the infrastructure and savings associated with new solutions (e.g. cloud,SaaS, AI, etc.). Upgrading the systems should be used as an opportunity to rethink howthe organization works and how the new technology can help boost the productivity. Agreenfield approach may not look attractive when considering that it requires to “duplicate”many functions and run them in parallel for some time, instead of progressively migratingthem. However, the long-term benefits of producing a shock and drastically improving thecombination of technology and operations outweigh this drawback. Two yearsimplementationOne-off investment of5% of annual revenues25% of technology OpexsavingsRecurring savings of 10%of revenuesImpact © Oliver Wyman2. AUTOMATION TO EXPAND CAPACITY AT MARGINAL TECH COSTThe strategyOrganizations that have a labor-intensive cost structure and whose products rely heavily onvalue added by the workforce can introduce AI and automation to increase their productioncapacity. The incorporation of these tools can be focused on replacing repetitive, well-specified and low variation tasks. By doing so, the workforce can focus on increasing timespent on high value-added tasks and the firm can expand the capacity while lowering theunit production costs at the same time the quality of the product increases.Case studyContextA niche news organization covering internationalgeopolitical topics in emerging markets was lookingto expand its topic and geographical coverage andexpand its client baseCaseIntroduce automation and Al tools to workflows withlow value added (e.g. translation and summary) andrefocus the journalist work on value added tasks suchas providing context and interpretationOutcomeIntroducing the automation tools enabled thecompany to significantly expand the coverage withminimal workforce expansion while being able tomore than triple the number of customers it served18 monthsimplementationAdditional tech run-ratecosts of ~$5 millionEnabling revenue growth>15% p.a.Reaching 20%profitabilityNews OrganizationImpactKey learningsOrganizations that have a labor-intensive cost structure and have growth ambitions canintroduce AI and automation to improve productivity and expand their business at reducedmarginal costs. Moreover, by doing so they introduce further pricing flexibility and betterproducts which strengthens their market positioning. © Oliver Wym