Race for the customer drives digital transformation

Communications and media executives are impacted by technology and digital acceleration and social demographic changes resulting in talent shortages. In communications, accelerated transformation is driven by cloud, IoT, 5G and edge technologies. Talent challenges include both attrition of legacy system knowledge and a shortage of workers skilled in new technologies.  In media, digital acceleration moves content and news creation forward and helps monetize content given pandemic-driven acceleration and changes in news and media consumption.

Both sectors are under pressure from new competition, regulatory changes, required technology investments, and eroding traditional bases.  Communications companies are focusing on the digital experience, network evolution and building ecosystems to innovate and transform. In the media sector, artificial intelligence (AI) is accepted for increasing efficiency in tagging and fake news detection. During the pandemic, broadcasters quickly introduced communications platforms that now need to be aligned with existing systems so teams can collaborate efficiently across channels from remote locations.

View key findings from our conversations with communications and media executives in 2022 below, or download the report.

For more insights on macro trends, including social demographics, climate change, deglobalization, technology acceleration and supply chain reconfiguration, read our summary insights.

Top trends and priorities

Top macro trends in communications and media
  1. Technology and digital acceleration, notably rising citizen and customer digital expectations
  2. Changing social demographics, including aging populations and talent shortages
  3. Reconfiguration of supply chains to reduce risks and increase resiliency
Top trends in communications
  1. Becoming digital organizations to meet customer expectations
  2. Increased investment in network
  3. Protecting through cybersecurity
Top business priorities in communications
  1. Improve the customer experience
  2. Develop new convergent offerings, product bundles and digital services
  3. Optimize today’s operations
Top trends in media
  1. Becoming digital organizations to meet customer expectations
  2. Increased investment in new products and services to accelerate growth
  3. Leveraging robotics and AI to reduce costs/enhance the customer experience
Top business priorities in media
  1. Improve the customer experience
  2. Develop new convergent offerings, product bundles and digital services
  3. Harness the power of data analytics (get real-time insights)

Talent, cybersecurity and digitization are in focus

92%
report difficulty in hiring IT talent
84%
say cybersecurity is a top concern
73%
cite high impacts of digitization on their business models

What digital leaders do to accelerate results

Among the 29% of communications executives and 44% of media executives who report achieving expected results from their digital strategies, some common attributes emerge. The table below compares responses to questions from these digital leaders to those from executives whose organizations are still building or launching digital strategies (digital entrants). Learn more about the attributes of digital leaders.

Common attributes of digital leaders

Digital leaders

Digital entrants
Modernize more applications 58% 35%
Have legacy system challenges 33% 69%
Have more agile business models 37% 16%
Closely align business–IT operations 74% 47%
Produce results from cybersecurity strategies 63% 23%

Download our 2022 Communications & Media report

View past reports