Over the last decade, online technologies have transformed the way that people view, read, create and deliver media. However, while technology has leapt ahead, the business models underpinning the media industry have often not kept pace.
With an audience of media leaders and The Club at The Ivy members, a panel of senior commercial leaders will discuss how the media industry is changing and what this means for the business of media.
While each session examines a different facet of the media industry, digital disruption remains the constant factor. These sessions are designed to encourage cross-sharing of thoughts, ideas and models so that our industry continues to evolve and thrive over the years to come.
The Business of News
The breakfast series began on the 14th of September with "The Business of News," a discussion on how the economics of news are changing.
Introduced by Alvarez & Marsal's Head of Media, Paul Naha-Biswas, and moderated by news anchor, Krishnan Guru-Murthy, our panel discussion participants include:
- Madhav Chinnappa, Director of Strategic Relations, News & Publishers at Google
- Dan Constanda, SVP and COO at CNN International Commercial
- Richard Dawkins, Chief Finance and Operating Officer at BBC News Group
- Janine Gibson, Editor-in-Chief at Buzzfeed UK
- Nicholas Wrenn, Head of News Partnerships, EMEA at Facebook
The key takeaways:
1) Don't throw away what you've got, but creating a completely new digital news model may require a decoupling of your TV / print mindset from your new digital offerings.
2) Globally, news channels such as CNN are still commercially strong but for many news organisations the jury is out on the long-term commercial sense of riding on third-party digital platforms such as Facebook or Snapchat.
3) Online news is not only exploding watermelons (as seen on BuzzFeed) – there is a balance of news that triggers Facebook likes or / and covers harder news issues.
4) There's no silver bullet – only silver shrapnel. The digital platforms believe that they can be commercially sustainable environments for news players but a mixed model is likely the way forward, with digital advertising, native advertising, micropayments such as Blendle and subscription.
5) The news winners are likely to be the organisations that listen to the consumer and are lean and either strong or nimble enough to ride the waves and prosper.
Future sessions in 2016 and 2017:
- The Business of International Television
- The Business of Data, Personalisation and Monetisation
- The Business of Print and Publishing
- The Business of Pay TV
If you wish to attend any of the sessions, please contact pnahabiswas [at] alvarezandmarsal.com (Paul Naha-Biswas).
About Alvarez & Marsal
Companies, investors and organisations around the world turn to Alvarez & Marsal when they need to drive change and deliver sustainable results.
Privately-held since 1983, A&M is a global advisory firm with 2,600 professionals focused on delivering strategy, business performance improvement, turnaround and advisory services to organisations seeking to drive growth, transform operations and deliver results through decisive action.
Our senior professionals are experienced operators, consultants and industry specialists who help business leaders turn change and disruption into a strategic asset, manage risk and drive growth.
We work extensively with media and media technology companies including content producers and distributors, broadcasters, pay-TV/ free-to-air platforms, publishers and digital media businesses.
To find out more about our work in media and technology, please contact pnahabiswas [at] alvarezandmarsal.com (Paul Naha-Biswas).