View the Entertainment and Media insight into the current economic climate »
What’s happening?
Economic uncertainty is growing and this is affecting both consumers and the business sector. Consumer confidence has dropped and businesses are increasingly reluctant to spend on discretionary costs such as marketing. They are also deferring capital expenditure. This is having a knock-on effect on the media, technology, communications and entertainment sectors, with revenue from advertising predicted to fall significantly in FY09 and 10.
Concurrently, there are a number of distressed businesses in this sector that need to be restructured or demerged. Media assets held in private equity portfolios are also under pressure to maintain revenue in the face of higher funding costs.
These forces are prompting collaboration among industry players, with many former competitors now – or soon to be – collaborators.
How we can help
- Cost management in the face of contracting revenues
- Divestment of assets
- Improving cross-platform selling to increase market share
- Leveraging of technology
Questions to consider
- What collaboration and alliances should be considered to stimulate growth?
- How can technological change benefit the business?
- How can staff be properly motivated?
- How could regulatory change affect the business?
PwC understands the issues your business is facing and the questions you need to ask in the current business environment. Contact us today to find out how we can help your business prosper.
As business adviser to many of the world's leading entertainment and media companies, PricewaterhouseCoopers has an insider's view of the key trends and developments driving the industry. Known as an industry thought leader, our entertainment and media practice publishes the annual Australian Entertainment and Media Outlook, representing the best known and most respected analysis of current and future trends in the entertainment and media industry.
We offer advice on:
- Free to air and subscription television
- Film
- Music
- Radio
- Publishing
- Advertising
- Gaming
- Online and interactive games
- Telecommunications
- Hospitality
- Sport.
While PwC is widely known for the breadth and quality of our Assurance services, we also offer a full range of Tax and Advisory services. In recent years we have pioneered work in areas such as developing strategies to leverage digital technology, marketplace positioning in industries characterised by consolidation and convergence, and identifying new sources of financing.
How PwC can help you
We reinforce our reputation as the entertainment and media industry's leading professional services firm by playing a strong supporting role in the business. We can help with:
- Media deregulation
- Attracting and retaining customers
- Doing business on a global scale
- Compliance and regulatory issues, including Sarbanes-Oxley
- Mergers and acquisitions
- Merger integration
- Culture and change management
- Financial reporting of key metrics
- Industry convergence and rapid changes in consumer technology and media preferences
- Tax issues such as content sales and international operations
- Indirect taxes
- Managing and protecting content rights and royalties
- Reducing costs and enhancing efficiency in core business operations
- Gaining maximum value from your human capital.
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