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Management Ideas for a Digital Media Enterprise - BBC Media Leaders Presentation Series 5/7

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Management Ideas for a Digital Media Enterprise - BBC Media Leaders Presentation Series 5/7

  1. 1. Management Ideas: Delivering on the potential of digital transformation Amir Jahangir Media Leaders, Johannesburg, South Africa 18-19 November 2019 Amir Jahangir | @amirjahangir | aj@mishal.com.pk Mark Kaigwa | @MKaigwa | mark@nendo.co.ke
  2. 2. Management Challenges • The global television industry is in the midst of a digital (r)evolution. • Online video has been spreading like wildfire, empowering consumers to watch what they want when they want it, sometimes cutting TV out of the equation altogether. • Budgets are shrinking with the shift in content consumptions • Networks, with their long legacy of linear programming (that is, airing news, sports, and entertainment at set times), are fighting to stay relevant. • Cable and satellite companies, too, have seen their traditional bundles come under attack from a slew of streaming à la carte offerings. • Content producers are scrambling to develop hit shows that can help networks and digital aggregators differentiate themselves and capitalize on evolving consumer preferences.
  3. 3. THE KEY ENABLERS OF THE NEW ONLINE DIGITAL ECOSYSTEM Content rights and production have always been the name of the game—and all relationships within the industry have revolved around this critical piece of the puzzle. Each advance intensified competition among all the participants in the value chain. But even with all these changes, incumbents were able to coexist and, for the most part, thrive. And the core sources of value within the industry stayed the same. The television industry has a long history of incremental evolution: black-and-white gave way to color, big boxes slimmed into flat screens, 3 channels ballooned into 300, networks made room for cable and satellite, and now all three are making room for online and mobile platforms.
  4. 4. THE KEY ENABLERS OF THE NEW ONLINE DIGITAL ECOSYSTEM Advances in Technology. • The robust fixed-broadband infrastructure that is needed to meet the demand for online video is spreading fast. • For users who are on the go, improvements in wireless connectivity have enabled greater access to digital content, and devices that can access mobile video have saturated the market. • By 2020, the number of tablets and Internet-connected, or smart, TV sets will be more than 1 billion worldwide. Streaming video has advanced to the point that it is now viewed as a direct threat to traditional TV.
  5. 5. THE KEY ENABLERS OF THE NEW ONLINE DIGITAL ECOSYSTEM Increasing Availability of High-Quality Online Content. • Traditional studios have begun to invest in online productions, allowing viewers to access a wealth of excellent programming when and where they want it. • To make matters more interesting, global tech leaders are bringing disruptive models to the market. Amazon.com, Apple, and Google have all launched online-streaming devices to supplement their video-streaming services, and all three have commissioned original content as well. The abundance of high-quality online content has attracted consumers and encouraged the shift from linear viewing to on-demand, time-shifted viewing.
  6. 6. THE KEY ENABLERS OF THE NEW ONLINE DIGITAL ECOSYSTEM Development of New, Low-Cost Content-Production Models. • Digital studios and semipro content creators are challenging the belief that high-quality content must be expensive. • Top-tier network entertainment programs can draw 10 million to 15 million viewers and cost up to $5 million per episode, and top-tier cable shows—at up to $3 million per episode— routinely draw millions of viewers. • By comparison, the top YouTube channels have proved they can drive millions of views for less than $30,000 per episode.
  7. 7. WHY IS THIS HAPPENING?
  8. 8. The Fourth Industrial Revolution
  9. 9. Changing Industry Dynamics
  10. 10. Workflow Disruptions • Reporters will spend less time on repetitive tasks and grunt work. • Streamlining workflows, automating mundane tasks, crunching more data, digging out insights and generating additional outputs • With AI powered news collection, journalists will serve as editorial gatekeepers. • AI enabled newsrooms will allow reporters to engage in more complex and qualitative work. • Creativity will become the Currency of respect
  11. 11. Changing Trends Cameraman, DSNGs Operators, Technical Resource Person, Reporters, Anchors - Extinct A New Breed of Journalists Freelancers - Citizen Journalists -Training and Implication Entrepreneurs - “Mediapreneurs” The conventional media and the regulators are still stuck in 2nd Industrial Revolution
  12. 12. Change Caused by Digital Transformation - Society 5.0
  13. 13. The Big Idea Artificial Intelligence in the Newsroom AI to learn the social media and internet trends of a broad spectrum of audience.
  14. 14. Artificial Intelligence in Newsrooms ANALYZE DATA IDENTIFY PATTERNS AND TRENDS ACTIONABLE INSIGHTS FROM MULTIPLE SOURCES SEE THINGS THAT THE HUMAN EYE CAN’T SEE UNDERSTAND SENTIMENT
  15. 15. Innovation on the Horizon – Impacts of AI on News AI technologies are opening-up new territories and transforming journalism. New solutions to the challenges of the digital revolution. Imperative to save time and money in an era of shifting economics. Find ways to keep pace with the growing scale and scope of the news itself. With social networks expanding the news ecosystem, news organizations need to keep constant track of what’s trending among news consumers in real time. The BIG Change: Media becomes the listening tool on How you Feel on What is happening around When it happens NOW!
  16. 16. Workflow Disruptions Reporters will spend less time on repetitive tasks and grunt work. Streamlining workflows, automating mundane tasks, crunching more data, digging out insights and generating additional outputs With AI powered news collection, journalists will serve as editorial gatekeepers. AI enabled newsrooms will allow reporters to engage in more complex and qualitative work. Technology changes, journalism doesn’t
  17. 17. The Future of Journalism is…. Participatory and Collaborative Based on Entrepreneurial Model Individuals to work not as employees but in partnership with media organizations Leading to a Trust-based People Centric Economy
  18. 18. “The future of journalism is bright, the question is, are you a part of it?”

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