Mark Borao, Global Advisory leader, M&E of Ernst & Young speaks to exchange4media on the new trends in digital content and addresses the challenges of monetisation of content and distribution across multiple platforms.
According to Borao, there had been a huge push to look at a digital transformation and there were a lot of things fueling it. One of them was the advent of large penetration of multiple devices such as mobile phones and iPads, thus increasing the demand for content across markets. “There is a huge consumption of content, which is compelling media and entertainment companies to think of better ways to supply their content and also the means to distribute it digitally. Though this has been a topical issue for the past 10 years, it has gathered momentum in the last 18 months.”
Borao noted that there were also people who were just concerned about the lessons that they had learnt in the physical world and how they could translate it in the digital world.
Remarking on how promising India as a market was, Barao said, “Assuming if I am right and if 4G does get enabled, it will help the mobility business get greater access in India, thus growing the market opportunities. As for print as a medium, in India, the newspaper business is fantastic, which is not the case in the western countries and there are a variety of reasons for that. But I think that as digital and mobile become more popular in India, we will see some interesting models emerging in times to come.”
Stressing on TV as a medium, he commented, “I don’t see TV going away. This medium is going to keep evolving, where a lot of them today have widgets and have access to the Internet. So, what one is going to see is a model where content will come to the television medium via a variety of services.”
He, however, stressed that the key area to be focused on was distribution, specifically digital distribution. According to him, for M&E companies, figuring out how to monetise digital content remained a challenge. “Building new digital business models requires innovation,” Borao pointed out, adding, “M&E companies are developing innovative ways to unbundle and repackage content in new ways that emphasise sharing, mobility and engagement. In many instances, M&E content bundles will not be products at all, but rather services that offer a compelling enough value that consumers will be willing to pay for them. In the digital era, this strategy holds the key to restoring top line growth and margins.”