An important function of the top management of media companies is to try to ascertain the direction in which their companies should move. Some owners and managers believe that the fog has to clear before they can take any steps forward; they argue that there is so much confusion that they risk taking their company off a cliff if they act too early. They add that we risk embarking into cul-de-sac projects which will deprive us of the cash we will need later on.
From my own experience, that is just a poor excuse for inaction and avoiding necessary risk-taking. Reality is more similar to a ladder: if we are in step 2 and later on we realize that our company needs to operate from level 17 to remain relevant to audiences and to continue squeezing revenues from our market…we will be game. No time to react, no internal skills, no culture…etc. Although everything may not be clear, one thing is: companies will be different, less corporate, more entrepreneurial and digital. They will be better at capturing and packaging news from their markets and they will rely more on local external sources and users.
Good content will remain key but devices and formats will evolve as also should our ability to squeeze more digital pennies. The sooner we start the learning process, the more chances we will have. There is no option but to use good judgment and start the walking.
This post has been divided into four sections to make it easier to visit or download. I’d feel rewarded if any, or all, of these slides would be used by media companies to facilitate the internal debate which is going on within many of them.The first part is a brief general introduction which presents what in my opinion is really relevant in a media company.
You can click Download Post 1 Future of Media to gain access to the Power Point presentation. Alternatively you can click here to see it here, in Slideshare.
You are free to use this article in your publication as long as you credit the author Fernando Samaniego
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