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Media and entertainment industry trends and issues

RSM understand the trends and issues disrupting the media and entertainment industry today. Companies in this space—from streaming services to video gaming and esports platforms, and movie and television production to broadcasting—must navigate shifting consumer habits, a rapidly evolving marketplace and changing advertising revenue streams. Middle market media and entertainment companies need to be nimble and adaptable in order to thrive.

RSM provides consulting, audit and tax services to clients nationally in the media and entertainment sector. Our professionals provide a range of industry insights to position middle market business leaders for success.

Media and entertainment industry trends and issues

What do evolving consumer habits mean for your business? More and more consumers have cut the cord and shifted from cable to streaming services for their television and movies in recent years, and now the market for streaming platforms is crowded. Middle market leaders need to monitor how media consumption habits continue to shift, and how the digital natives of Generation Z will influence trends in this sector compared to other generations.

How are you adapting to new forms of content delivery? As consumer habits change, and distribution channels become more digitized, it’s no surprise that companies need to adapt to various channels of content delivery. The pandemic has only accelerated the disruption in how film and television deliver product to viewers, with studios having to shift in delivering content straight to consumers. Even video gaming companies are finding alternative means of delivering products to consumers to keep up with the massive growth and demand.

How does your business navigate advertising and retransmission revenue disruption? With multiple mediums, apps and options to compete for viewer’s attention, targeting and advertising to the right consumers have been increasingly difficult. Advertising revenues are shifting quickly from billboard and print to digital. Broadcast retransmission fees, political advertising, digital streaming advertising opportunities and revenue disruption because of the pandemic are just some of the top considerations in this space.

Are you seeking out opportunities in the growing world of video gaming and esports? Since the pandemic, the number of streaming hours have nearly doubled from 3 billion to 6 billion hours. With more than 60% of Americans now gaming, it’s no surprise that the video gaming sector has been one of the fastest growing sectors during the COVID-19 pandemic. On top of that, with live sports having to redefine how to continue their seasons, the spotlight shined bright on esports, allowing alternative forms of competition even among professional athletes. Companies across the media and entertainment sector should be cognizant of new opportunities that crop up because of these platforms and products that appeal to a wider audience.

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