The Media CEO’s Playbook

Winning During the Disruptive Technology Revolution

Over the past 25 years, the global media industry has undergone a digital paradigm shift that has fundamentally transformed how it operates and has generated significant value. Although some legacy media companies managed to adapt, many did not, and new market entrants absorbed the majority of the value generated. Today, we are on the precipice of the next paradigm shift, driven by disruptive technologies such as artificial intelligence (“AI”), immersive and blockchain. Massive value is sure to be created again, but the question remains: Who will be in a position to benefit? Facing high degrees of uncertainty with regard to the impact of these disruptive technologies, incumbents appear to be poised to repeat the mistakes of the past.

This paper details key learnings from the digital paradigm shift of the past, our perspective on disruptive technologies, and the approaches taken by today’s media executives. It concludes with guiding principles and tactical next steps to help executives avoid the mistakes of the past. This paper is based on recent and past interview programs with executives on how they addressed the challenges and opportunities of the digital paradigm shift of the past and intend to approach the disruptive technology-driven paradigm shift of the future. Our interviews included executives from companies of various sizes and market positions, including traditional media companies (e.g., Warner Media, NBC, the New York Times) to digital-native companies (e.g., Amazon, Apple) and companies from other sectors (e.g., Aptiv, HighRadius, Siemens).

Key takeaways include:

The innovation made possible by disruptive technologies such as AI, immersive and blockchain will generate significant value and affect media business models over the next decade.
Capitalizing on the value generated by the application of these disruptive technologies will involve not just a clear-eyed strategy but, more importantly, an examination of operating model setups.
CEOs will need to understand the implications of the next paradigm shift, determine the impact on the firm, understand which operating model setups will enable them to drive change, and evangelize for it top-down while also aligning with executive teams and boards.
Adapting to the next paradigm shift will require funding, resources and attention, with executives stepping up to lead long-term innovation and ensure effective change.

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