When Media and Entertainment Firms Go Digital
To thrive in the digital age, media and entertainment firms must nurture profitable relationships between content and customers. They build brand and buzz behind popular tunes, episodes, and entertaining personalities. Successful firms foster friction-free networks, channel valuable content that flows through them, and build engaging communities around them. Along the way, they squarely face the future and digitize their most promising revenue streams.
But costs matter. Established business models based on analog technologies no longer work. There are no physical barriers to the distribution of digital goods. Savvy firms attract audiences and delight fans by distributing free content, selling premium content, and delivering value-added services. They engage listeners and viewers wherever they are by smartly supporting both web and mobile applications, and then monetizing the results.