New measurement of success will be across media formats, not media: Ashish Pherwani
Shrugging off the disruptions of the year gone by, businesses and agencies are looking for a strong revival in 2021. Over the next few weeks, Adgully – as part of our annual TRENDING NOW endeavour – will be presenting the strategies and views of a cross-section of industry leaders as they go about reclaiming lost time and market opportunities and build for a stronger future, armed with the lessons of 2020.
Ashish Pherwani, Partner, Media & Entertainment Advisory Services, Ernst & Young, sees the emergence of Mediagnostic measurement, ‘Super’scription, Community Real Estate and Regional royalty in M&E in 2021.
M&E trends in 2021
- Mediagnostic measurement – As the lines between print, TV, digital, radio, film, etc., continue to blur, new measurement of success will be across media formats, not media, viz, audio (~5%), text (~18%), video (~57%) and experiential (~20%)
- ‘Super’scription – Renewed focus on subscription income, across print, TV and digital, to de-risk business models from the over-reliance on ad sales
- Community Real Estate – Focus on community-based business models, comprising customised offerings for, by and of different communities, to enable increased relevance and monetisation
- Regional royalty – More regional content will continue to drive growth in regional media consumption, and that should drive more and faster growth for regional markets across media
Overall, probably all M&E segments except radio, print, OOH, events and cinema will all reach or exceed 2019 levels
Key learnings from 2020
- M&E showed its strength and – except where prohibited by law – managed to keep itself going, entertaining and educating its audiences
- Build business models with profitability in mind, and not based on purchased consumers or consumption
- A healthy mix of ad and subscription is critical for stability
- Every physical product must have a digital extension/ avatar