Media and Entertainment’s Wild Ride is Destined to Become Even Wilder

• Streaming and Cord Cutting – My wife and I love our cable bundle. We’re comfortable with the menu showing all the channels we can get and what’s on each. But now most of what we watch – save for local news and live sports – is streamed. And the increasing cost of cable plus streaming is…uncomfortable. We’re on the cusp of joining the millions of other viewers who are cutting the cord. How our decision will impact “traditional” broadcasters and the advertisers that fueled their profits for decades and how streaming services find the recipe for profitability is a story unfolding right before our eyes (in fact, some alarming stats emerged just last week around more pay-TV household dropping their services.

• M&A – The rumors of the next wave of consolidation are rampant. And the names being tossed around are not peripheral players but some of the largest media and entertainment companies in the world. How big is too big? Will the marketplace or regulators decide? How will these changes affect media finance professionals and our jobs?

• The Uncertain Future of the Local Journalism Sector – I am one of six people in an apartment complex of more than 100 units who gets a local newspaper delivered seven days a week. Many of my neighbors may have online subscriptions – or maybe they don’t. Perhaps, like many consumers, they get their “news” from social media sources curated to provide them information that affirms their views rather than sheds light on issues such as what the city council or county board of supervisors did at last night’s meeting. To borrow a phrase from an MFM member newspaper: “Democracy dies in darkness.” The continued demise of local journalism – particularly in the newspaper sector – frightens the heck out of me.

• AI – On top of all the “organic” disruption taking place in the industry today, the escalation of AI adds another gear to the speed at which media and entertainment companies are undergoing transformational change. More than almost any other industry you can think of, ours is one in which AI is likely to have  a massive impact – from the content we produce to the way our companies are managed. And financial professionals are at the heart of the reinvention process, making decisions not only on how AI tools will be deployed with the finance and accounting departments, but how they will be used and managed across all sectors of the organization.

Feeling overwhelmed, too? I’ve got just the place where you can get the latest information, insights, and intelligence on each of these issues and many others – and have a good time doing so. It’s the 2024 MFM Annual Conference and it’s more critical than ever that you attend. Not only will you glean business- and career-changing knowledge, but it’s an opportunity for you to interact and have your voice heard at roundtables, in hallways and at social events. We’re back in sunny Florida this year, where the warm climate will only be bettered by an impressive lineup of speakers, sessions and opportunities for social discourse. If I haven’t had the chance to meet you yet, I look forward to a conversation in Jacksonville.

Posted at MediaVillage through the Thought Leadership self-publishing platform.

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The opinions expressed here are the author's views and do not necessarily represent the views of MediaVillage.org/MyersBizNet.