Did you know: The average media & entertainment business spends twice as much on suppliers than its own people?
Media & entertainment businesses have become hollow. Virtual. In a heavily digitized world, lower product price points and competition from lower cost operating models have put extraordinary downward pressure on profitability. But in many cases, internal changes in cost structure and attitudes toward spending money have not evolved in line with these trends.
Through our own experiences working alongside some of the world’s best known media & entertainment brands, combined with findings from our latest research, we found that media & entertainment companies are seeing revenue grow at almost three times the rate of employee growth.
But, if headcounts is not growing (in fact headcount is being reduced in many cases) how is this growth being fueled?
Watch this short animated film to find out…
We will delve deeper into media & entertainment’s journey of virtualization over the coming weeks.
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