The media and entertainment industry is caught between its past and future, according to a survey from Adobe (CMO.com’s parent company) and Econsultancy of more than 200 senior-level marketers and executives.
“The 2016 Trends and Priorities in the Media and Entertainment Sector” found that nearly 60% of the media organizations we polled agreed that they lack a truly cooperative culture in marketing and still rely on siloed budgets and behaviors. Even more striking is that many viewed their companies’ leadership as being resistant to a digitally focused strategy. Forty-nine percent said their executive management was not fully committed to data and technology investment as a path to growth; 46% don’t believe that their boards understand digital strategy and what it requires.
Despite this tension, the opportunities for growth identified by the study are largely digital in nature. The industry is excited by emerging possibilities in addressable media and advanced marketing technologies. It clearly sees data at the core of the new capabilities that will be the key to ongoing success.
With this study, our goal was to understand where the digital trends are headed and to surface the strategic priorities for media and entertainment companies as they attempt to stay ahead of the curve. What’s certain is that it is critical for media and entertainment executives to adapt their thought processes and behaviors to new realities.
Click here to read the survey. (Short registration required.)