Media and Entertainment Industry Ill-Prepared for Today’s Digital Realities

An overwhelming majority (91 percent) of senior executives of media and entertainment companies admit that they are not taking full advantage of customer data that can deliver customized content, leaving them ill-prepared to seize the revenue opportunities of today’s digital technologies, according to a new Accenture survey.

The study also found that a startling 95 percent of the executives surveyed indicated that they did not have strong digital customer relationship management (CRM) capabilities in place. And more than half (58 percent) say they are still in the early stages of developing such capabilities. According to Accenture’s Global Media & Entertainment High Performance Study, fewer than ten percent of the executives indicated that their companies have a fully integrated view of their digital consumers. This suggests that the vast majority (91 percent) of industry players must consider altering their way of doing business if they are to succeed in growing revenues in today’s digital landscape.