Learning from the Music Industry
February 1st, 2008 by Alec McNayrPosted in Business, Media |
I wrote yesterday about Jeff Zucker’s speech at NATPE.
If there is any question about the need for such forward thinking in the TV/Entertainment business, we only need to read Matthew Ingram’s piece on the Crisis Facing the Music Industry:
As sales of physical products such as CDs continue to drop, online sales are rising – they climbed by 122 per cent in Canada in 2007. But they aren’t producing enough of a return to justify all of the embedded costs that the industry has built up as a result of its former business model.
If nothing else, the digital dilemma strips industries down to their essence, and forces them to try to answer the central question that all companies have to confront: What kind of business are you actually in, and what is your compelling advantage?
Results matter, and entertainment is rewarding people who are building their ability to actually engage an audience. Soon, it will be based on actual results, rather than speculation.
1 Trackback(s)