Market disruption to push media industry towards greater risk taking
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Joseph O'Halloran
| 04 February 2021
With the turbulence of 2020 still rippling through the media industry, companies are now becoming more adaptable and accepting of risk in order to get through the unprecedented times and grow, says business network the DPP.
DPP 4Feb2021
Publishing its annual set of predictions, enabled by member company Zixi and drawn up by more than 30 senior leaders from across its membership, the DPP paints a picture of an industry focused on survival and redefinition. Indeed, it notes that the events of 2020 have given this year’s predictions a real edge, with a consensus between suppliers and end users that the industry is in for a “very turbulent” 12 months.

Looking at what it says will be the overall mood music that will accompany the media industry in the year ahead, DPP members highlighted a focus on innovation, resilience and adaptability; by data being put at the heart of everything; and by clearly articulated business values becoming a critical success factor in both internal and external relationships.

The DPP’s members gave particular emphasis to four key factors. As countries recover from the coronavirus pandemic, huge time and effort will be devoted to redefining the purpose of the workplace while the media market will likely be characterised by disruption and consolidation, both among media organisations and their suppliers. In addition, the unpredictability of consumer trends, especially as economies bounce back, is set to become accepted as a steady state condition and companies of all kinds will likely show a greater preparedness for risk as they accept that inaction and delay pose a greater risk of their own.

The DPP believes that these factors will also ensure an acceleration in the adoption and deployment of key technologies and processes, such as AI-led automation, edge computing, and distributed security measures, as the industry re-engineers itself to be more virtualised, efficient and responsive.

“The change in how we work, requiring increased virtualisation, will drive the need to understand data and workflows as they change,” said Gordon Brooks, CEO of Zixi commenting on the 2021 DPP predictions. “We’ll need to be smarter in our monitoring, prediction and prescription. This could be the year in which media accepts itself as a process led industry.”