The rate of change in the media industry has accelerated over the last year with the shift to tech-enabled streaming services, 5G, and digitization. The drive to attract and retain consumers is leading to a sharp focus on a constant supply of high-quality, differentiated, fresh, and diverse content. Creating indelible, immersive, brand-aligned experiences for employees, clients, partners, and customers will be key.
Widespread global adoption of streaming platforms has set the global media industry on a trajectory of accelerated growth to meet rising consumer demand for fresh and diverse content. In addition to streaming video, providers are now adding games, music, and podcasts to capture more market share. The media industry is in need of agile and adaptable workplaces that support a variety of content creation workflows and allow for seamless collaboration and cross-pollination between creatives.
The focus on sustainability and resiliency in the built environment has impacted the media industry in a big way. In the coming years, companies will embrace innovative adaptive reuse and energy efficiency strategies. As more data moves to the cloud, media companies are also able to reduce on-site operational systems, as well as the amount of square footage required to house these systems.
U.S. and global consumers are looking for diverse, differentiated, and fresh content. This consumer demand is driving production teams and facilities to hire more diverse talent and move to diverse geographies. Geographical diversification can also mitigate the impact of future crises since companies can always have production locations in the event one or more can’t operate.
As flexible work options become more widespread, there is a heightened focus on the employee experience in the workplace to make it a desirable place to be. To make themselves attractive to tech and media workers, media organizations need to create a workplace that is agile and adaptable to a fluid technology workflow. Alignment of values, and authentic communication of these values in the space, is essential to the employee experience and a key differentiator.
“As companies race to meet consumers where they are with an ever-expanding range of products, services, and experiences, the entertainment and media industries will grow more pervasive, more immersive, and more diverse.”