The Record Issue 11: Winter 2018

56 www. t e c h n o l o g y r e c o r d . c om F E ATUR E I t doesn’t take a trained eye to recognise that the media and entertainment industry is rapidly undergoing digital disruption. “Compared to audiences ten years ago, today’s consumers have access to unlimited amounts of content and are consuming it on an increasingly diverse range of technologies and platforms,” says Jennifer Cooper, global head of Media and Communications Industry Strategy and Solutions at Microsoft. In this media-saturated environment, audi- ences demand content experiences that are enriching and convenient, and consumption patterns are changing in response. “Recent research from Deloitte has revealed that in the last 10 years alone, video streaming subscription rates in the US have increased by approximately 450%, and this isn’t the only dramatic shift,” says Cooper. “Millennials now spend almost 15% of the time they devote to movies and television watching on smartphones. As a result, media and entertainment leaders face increasing pres- sure to find new ways to monetise content and generate revenue.” With this in mind, companies that rely on tra- ditional business models are now facing a new reality as their business declines. “To remain prof- itable in this shifting environment, companies must develop monetisation strategies that rapidly deliver content to global audiences, attract and engage paying customers, and provide differenti- ated services to retain advertisers,” Cooper says. “Monetisation is a complex challenge that doesn’t The way people consume content is rapidly evolving. As a result, media and entertainment companies are under growing pressure to develop new strategies for monetising the content they create. Connected audience analytics can help organisations to deliver the right content to the right person at the right time BY E L LY YAT E S - ROB E R T S audience analytics The power of “Media and entertainment leaders face increasing pressure to find new ways to monetise content and generate revenue” J ENN I F E R COOP E R