Digital drives the agenda, data delivers insights
Media & Entertainment CFO report: digital drives the agenda
As digital continues to drive the agenda, CFOs are looking forward — strategizing, planning and executing in ways that enable their organizations to grow and sustain market leadership.
For the first time since the great recession of 2008, media and entertainment (M&E) chief financial officers (CFOs) have shifted their primary focus from cost reduction and operational efficiencies to optimizing the organization for growth.
Today’s priority for an overwhelming 74% of CFOs is the evolution of digital — using digital to drive their growth agenda and data to deliver the insights that enable game-changing decision-making.
In our sixth in a series of executive reports, 50 CFOs from leading M&E companies around the world share these and other views on the current and future direction of the industry.
The CFOs we interviewed represent M&E companies with combined annual revenues exceeding US$475b globally, spanning eight media and entertainment industry subsectors and ten geographies.
Digital isn’t the future, it’s already here. Digital is transforming the M&E landscape. M&E companies’ best advantage is to manage from within the digital and technology disruptions that are transforming the market.
Data analytics deliver insights that improve decision-making. To effectively align their organization for digital growth, CFOs are placing significant emphasis on data analytics to improve decision making, systems and processes.
Transactions focus on what companies already know. As M&E companies look to grow, CFOs are most focused on deals in core markets and geographies. But new opportunities are a tempting option.
Better tax planning accelerates performance. Integrating tax planning that aligns to business and operational strategy is more important than ever for CFOs as tax planning moves into the digital age.
Capturing today’s talent will fuel tomorrow’s growth. CFOs recognize the importance of attracting and retaining top talent, and they’re pinning their success, in part, on their ability to do it.
“As M&E companies look to grow, CFOs are focusing on being strategic partners to the business, providing leadership and insight, and helping to ensure the business is moving fast enough to adapt to and innovate in today’s digital world.”
EY’s Global Media & Entertainment Leader