Over the last three decades, the media industry world over has undergone profound transformations. It all began decades ago with the privatisation and commercialisation of broadcasting, which led to more TV channels and a decline in print media. Traditional business models were upended, and consumer behaviour changed rapidly, with an increasingly wider range of entertainment options available and people having more control over what, when, and how they consumed content. More recently, advertising, which has historically been a crucial revenue source, started becoming less profitable as the subscriber base fell and viewership dropped. The emergence of digital platforms in the last decade or two has introduced new competitors from the technology industry with innovative business models challenging traditional media companies. It would not be wrong to say that digital transformation has completely revolutionised traditional media.
European media companies today are actively exploring the use of the latest technologies, including Artificial Intelligence (AI), Virtual Reality (VR), data analytics, and extended reality (XR), throughout their value chains. Generative AI (GenAI) is gaining considerable interest in the media industry as a valuable tool for enhancing creative processes in media production.
However, Media Transformation still encounters formidable obstacles
The European media industry’s shift to the digital age brings a set of blockers. For starters, understanding customer data and using it to personalise content and ads can be a real puzzle. Many media companies don’t have a clear plan for going digital and are still sticking to old business ways. Inside these companies, different teams don’t always work well together, which makes it hard to make digital changes happen smoothly. Finding experts who really get the digital world can be difficult, and dealing with legacy systems can be a real challenge. On top of that, there are cybersecurity considerations and compliances around data privacy. Figuring out how to make money in the digital world is also a big challenge, especially with big tech companies as competitors. These challenges are significant, and media companies need smart solutions to succeed in the digital age.
How European Media industry can make the most out of the digitalisation trend
Several key trends are shaping the landscape of the European media industry today. One major shift is the emphasis on putting digital-first offerings in front of customers. This means creating hyper-personalised content for online platforms and mobile devices, recognising that audiences increasingly engage with media digitally. Monetising digital inventory is also a major focus as traditional revenue sources decline. Media companies are exploring strategies like paywalls, subscriptions, sponsored content, and targeted advertising to generate revenue. Additionally, automation is playing a crucial role in streamlining operations across the industry, making processes more efficient and driving innovation. These trends highlight the industry’s ongoing transformation to stay competitive in the digital age.
However, it is crucial for European businesses to partner with experts to successfully adopt new technology, adapt to changing business models, and address challenges related to trust, diversity, and sustainability. Persistent provides a comprehensive suite of technology solutions and services tailored to empower the European media industry in its digital transformation endeavours. Leveraging Persistent’s expertise in application development, cloud computing, network performance optimisation, customer experience management, security, and edge computing, media companies can effectively navigate the evolving digital landscape. These solutions enable media organisations to maintain their competitive edge and deliver exceptional content and services to their audiences while ensuring robust security measures and optimising content delivery speed. Persistent’s GenAI services can help the European media industry by giving personalised content which can be consumed easily and trigger actions.
Persistent empowers media companies in their digital transformation journeys by offering solutions that address legacy system challenges, enable personalization, drive organisational changes, foster team collaboration, and provide insights into audience behaviour.
Persistent’s Media Revolution
- Persistent partnered with FAZ (Frankfurter Allgemeine Zeitung) as consultants, introducing Salesforce products as the central tool for marketing, sales, service, and e-commerce. The collaboration led to 30,000 new digital subscribers, self-reliant use of Marketing Cloud, improved email engagement, efficient campaigns via Advertising Studio, a successful digital product launch, lower agency costs, and real-time subscriber reporting with resolved service case backlogs.
- Persistent’s collaboration with Mediatoon began by optimising order management and enhancing customer experiences. Subsequently, Salesforce solutions like Service Cloud and Marketing Cloud were deployed to improve customer interactions and personalisation. Integration with Talend streamlined data retrieval from Mediatoon’s website. Flexible implementation and adherence to budget showcased Persistent’s commitment. Today, Mediatoon excels in personalising every eCommerce customer’s journey, with real-time customer history, tailored email campaigns, and dynamic web pages.
The European media industry’s growing adoption of technology is set to reshape its future, enabling personalised content delivery, data-driven decision-making, and deeper audience engagement. With its proficiency in digital solutions and data expertise, Persistent empowers media firms to effectively leverage these technologies, ensuring competitiveness and innovation in an ever-evolving digital arena.
Get in touch with us today to learn how our experience and industry knowledge can help you gain a competitive edge in the media industry.
