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New study from EY identified the six trends driving the future of television as the industry braces for a major shift in monetization and storytelling with ever-expanding array of channels, platforms, devices and experiences
LOS ANGELES, Dec. 17, 2013 /PRNewswire/ -- Viewer demands for control and for new experiences are impacting every aspect of the content supply chain - from story creation through distribution -- according to a new report just issued by EY. The report, Future of Television – Media & Entertainment, identifies six key trends that will drive the future of television in the years ahead. The report also explains that media and entertainment companies will need to more closely measure viewing behavior to create experiences that are interactive, mobile and tailored to viewers' specific needs and interests.
EY identified these trends from its analysis of thousands of hours of interviews with executives and thought leaders from media and entertainment companies around the world.
"Media and entertainment companies need to develop much closer relationships with viewers to create deeper engagement with both the content experience as well as advertising," says Howard Bass, Global Media & Entertainment Advisory Services Leader, EY. "Ultimately, it is going to come down to creating compelling content offered in a preference-optimized environment that viewers are willing to pay for directly."
"The story isn't about making content available on multiple platforms", adds Chris Gianutsos, Executive Director, Media & Entertainment Advisory Services, EY. "It's about enabling experiences with compelling content tailored to an audience of one. The relationship between content and viewer is going to get more complex, but potentially also more lucrative."
The six trends driving the future of television are:
About EY's Global Media & Entertainment Center
In an industry synonymous with creativity and innovation, the bar for business excellence is set high. You need to embrace new technology, develop new distribution models and satisfy the demands of a voracious and outspoken consumer. At the same time it's important to manage costs, exceed stakeholder expectations and comply with new regulations. There's always another challenge just around the corner. EY's Global Media & Entertainment Center can help. We bring together a high-performance, worldwide team of media and entertainment professionals with deep technical experience in providing assurance, tax, transaction and advisory services to the industry's leaders. Our network of professionals collaborate and share knowledge around the world, to provide exceptional client service and leverage our leading market share position to provide you with actionable information, quickly and reliably.
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.
This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.
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