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The newest normal
13 June 2014
13 June 2014: Talk about taking a leaf out of its own book. PricewaterhouseCoopers (PwC) has moved beyond a long-held tradition, and, for the first time, gone to market with its hallowed numbers safely stored online and with a what-it-all-means tome firmly rooted in the print-and-paper world many of its VIP clients love, respect and make market-moving decisions from. The combo digital:print Global entertainment and media outlook 2014-2018 shines of a company taking own advice - "advancing from a digital strategy - to a business strategy fit for a digital age". Success today, says PwC global entertainment and media leader Marcel Fenez, "is not just about technology. It's about applying a digital mindset to build the right behaviours". Those separate "digital strategies" of yesterday? Dump them. "Digital" today is just one part of an "overall strategy that identifies what's needed for success in a world that's very different from yesterday," this year's book says.The changes PwC talks about are tech/standard/platform agnostic. Fenez says offline media need to follow the same rules - "to create and embed a new mindset towards doing business: not just quicker, but more targeted experimental, experiential, inclusive, collaborative"."We believe this shift towards a more personalised customer-centric organisation is the single biggest change since the advent of digital media," the book says, adding that while the industry has been talking about this "seismic shift" for years, "now it has become mainstream: an integral and pervasive part of the entertainment and media 'new normal'."The shifts in consumer psychology have been as seismic and just as momentous. "What's changed for consumers is that they've realised they can be at the centre of their own world of entertainment and media, constantly enjoying content experiences that are shaped around them as people." These newl...
13 June 2014: Talk about taking a leaf out of its own book. PricewaterhouseCoopers (PwC) has moved beyond a long-held tradition, and, for the first time, gone to market with its hallowed numbers safely stored online and with a what-it-all-means tome firmly rooted in the print-and-paper world many of its VIP clients love, respect and make market-moving decisions from. The combo digital:print Global entertainment and media outlook 2014-2018 shines of a company taking own advice - "advancing from a digital strategy - to a business strategy fit for a digital age". Success today, says PwC global entertainment and media leader Marcel Fenez, "is not just about technology. It's about applying a digital mindset to build the right behaviours". Those separate "digital strategies" of yesterday? Dump them. "Digital" today is just one part of an "overall strategy that identifies what's needed for success in a world that's very different from yesterday," this year's book says.The changes PwC talks about are tech/standard/platform agnostic. Fenez says offline media need to follow the same rules - "to create and embed a new mindset towards doing business: not just quicker, but more targeted experimental, experiential, inclusive, collaborative"."We believe this shift towards a more personalised customer-centric organisation is the single biggest change since the advent of digital media," the book says, adding that while the industry has been talking about this "seismic shift" for years, "now it has become mainstream: an integral and pervasive part of the entertainment and media 'new normal'."The shifts in consumer psychology have been as seismic and just as momentous. "What's changed for consumers is that they've realised they can be at the centre of their own world of entertainment and media, constantly enjoying content experiences that are shaped around them as people." These newly pampered consumers are taking personalised experiences from the media world into the rest of their lives, increasingly expecting and demanding the same level of personalisation and recommendation from all their other providers, from utilities to carmakers. "So the race for relevancy - and indeed the migration to a digital mindset - is being joined by a vast array of participants from beyond entertainment and media, all competing head-on for relationships with the same individuals".How can media companies compete? PwC says by living and breathing a digital mindset and turning the five adjectives du jour - targeted, experimental, experiential, inclusive, collaborative - from "corporate mantra into strategic reality".