target audience: TECH SUPPLIER Publication date: Mar 2024 - Document type: IDC Survey - Doc Document number: # US51942124
Future of Industry Ecosystems — Media and Entertainment Industry
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Abstract
This IDC Survey, based on IDC's Future of Industry Ecosystems Survey, is focused on the media and entertainment industry cut of this survey data. In May and June 2023, we fielded our third annual global survey to 1,288 executives across 5 regions and 11 countries. The goal was to determine executive and business leader sentiment on industry ecosystems, maturity of current approach, and future plans for IT and use case investment. Respondents spanned multiple domains including CXO, business-line executives, and IT leadership. Industry coverage is across the following industries: architecture/engineering/construction (AEC), energy (and subindustries), discrete and process manufacturing (and subindustries), healthcare, life sciences, financial services, government and education, telco, media and entertainment, retail, and transportation/logistics.
Key findings from the survey include:
- Improving end-customer engagement is a primary driver of industry ecosystems.
- AI is growing in importance as a key decision support technology in industry ecosystems.
- Environmental sustainability remains a key initiative for industry ecosystem partners.
What is clear is that organizations in every industry are looking to open and expand their industry ecosystem as part of becoming a digital-first business. Shared data and insights, shared applications, and shared operations and expertise are enhanced with this approach — becoming not only a way to ensure flexibility and resiliency but also a way to grow revenue and profitability through co-innovation and consistent customer engagement.
The media and entertainment industry has naturally evolved to be ecosystem driven, with multiple technology, content, and entertainment providers necessary to deliver a good customer experience. Thus sharing data and insights about such areas as IT network optimization and sustainability, complemented by an ample and accessible set of applications that are available within organizations and marketplaces, is an important focus. ESG and Web3 computing are also key ecosystem initiatives in this industry, according to our global survey.