Steve Bates, CIO & Advisory PartnerWith the advent of the digital revolution, the Media and Entertainment (M&E) industry is burgeoning with opportunities. Convergence of the content, computing and communication sectors, proliferation of smart devices, massive global growth expectations, new competitors and delivery models, and shifts in consumer behaviors are driving significant disruption to traditional media business models. In the face of these drivers, IT executives are challenged with an increased demand for technology services, while complying with new regulations and adapting to changes that will position the company for future growth.
Considering this myriad of imperatives, CIOs often turn toward KPMG for help. As one of the world’s leading audit, tax, and advisory firms, KPMG assists media organizations on a wide range of operational, financial, regulatory, technology, and strategic issues.
Media and Entertainment is a sub section of KPMG’s broader Technology, Media and Telecommunications (TMT) industry group. “We see the M&E sector increasingly acting as the growth engine and content hub for high tech and telecom companies,” says Steve Bates, CIO Advisory Principal, KPMG. “The traditional boundaries between these sectors are rapidly dissolving and the combined synergies are changing the face of media around the world.”
One of the top drivers in the M&E sector is the ability to keep pace with changing technology. Most traditional media companies are challenged with maintaining outdated infrastructure, while responding to demand for completely new revenue-driving technology platforms like over-the-top (OTT) or direct-to-consumer. KPMG begins by helping a company prioritize which capabilities they are seeking to develop. “Many organizations are trying to deliver cost savings and re-deploy capital toward IT innovation, others are seeking to manage security and risk, while others are trying to enhance the customer and employee experience,” remarks Bates. “We are helping CIO’s evaluate and shape the return on capital investments while putting in modern governance elements to run IT as a market-competitive business. Customers want the levers to dynamically respond to changes in consumption, demand for new services, or changes in the business due to acquisition or growth.”
We are helping CIOs evaluate and shape the return on capital investments while putting in modern governance elements to run IT as a market-competitive business
KPMG is currently assisting a large global media company to transform their IT operating model to support their rapid growth while bringing costs in-line with market rates. From cutting down inefficiencies, establishing trusted sources of management data, and automating operations, to standing up a comprehensive information risk management function— KPMG is helping the firm modify their market value.
To adapt to changes in the industry, M&E firms are seeking to leverage their content across many customer channels. Many organizations tend to undertake discrete customer-focused projects without considering their broader impact on the customer experience. In response, KPMG has focused on linking customer and product strategy with digital and analytics capabilities to deliver robust omnichannel solutions. “The quest to deliver a tailored and seamless customer experience across a theater, retail store, online, game, or streaming to your device, is powered by rich, adaptive and insightful engagement,” states Bates.
KPMG is committed to providing an easy-to-use digital user experience of their always-connected customers. In line with this, the firm has developed a new digital platform, which features the science of motivational design to drive higher social engagement, and better content discovery.
In addition to being a leading technology advisor, KPMG focuses on the holistic transformation agenda of M&E companies, providing value-added services like customer and brand strategy, merger and acquisition (M&A) advisory, profit margin enhancement, cost takeout, IP protection, advising on accounting issues, global market expansion, corporate restructuring, and risk management services