Kulmeet Bawa, President and Managing Director for SAP Indian Subcontinent, shares insights on media companies, their digital transformation and overall industry scenario Industries across sectors have begun to experience the positive impact of digital transformation. For the media industry, this disruption has already happened and is changing the business landscape forever. Technology will continue enabling content creation, content consumption, and monetisation, as well as targeted audience engagement and provide exceptional customer experiences. Kulmeet Bawa who took over the role of President and Managing Director for SAP Indian Subcontinent, in July this year, shares insights on media companies, their digital transformation and overall industry scenario. Q) ‘By 2022, most global revenue in media will come from digital revenue’ says a statement on your website. How do you view this scenario in India? What are the key focus areas for you in this sector? Media companies have been at the forefront of digital transformation. From the outset, consumers have driven this transformation, combined with digital native companies entering the industry. The winners will be those media companies that drive deep, intimate, personalised, and engaging relationships with consumers in a world of almost infinite media choices.
- Evolving Content experience by producing compelling content and delivering a beautiful experience across multiple devices.
- Changing audience behaviour: Media companies increase their relevance to consumers by using captured and analysed data to personalise content offerings and user experience. They need to match specific content with the most appropriate audiences, channels, and flexible business models.
- Architecting for scale and flexibility: To better compete with disruptors, more and more media companies need to build their direct-to-consumer platforms. As more consumer data is harnessed and advanced analytics are applied, new targeting opportunities can emerge.In India, many media companies are already following these strategic pillars with most of our content consumption now happening online with OTT applications. These are exciting times for the Indian media industry.
- To optimise existing processes for more resilience, efficiency or reliability
- To extend current business processes to capture new sources of value and revenue streams
- To transform the company’s value chain or business model to capture customer advocacy and enhanced experience.