Ernst

Mumbai, Jan 23: The changing content and distribution models as well as mobile entertainment devices would be the key change drivers for the Industry, An Ernst&Young survey on the emerging global media and entertainment (M&E) industry, has projected.

The findings of the survey, 'Center Stage: CFOs and Finance Executives in The Spotlight Of An Industry In Transition'', were released here yesterday by Mr John Nendick, Global Head - Media&Entertainment Practice.

Advances in mobile technologies and increasing public expectations mean that the 'consumer is king' in the marketplace, according to the survey of more than 200 finance executives, which includes views of 46 CFOs, 6 from India and 140 online participants from major media and entertainment companies around the globe.

''We are delighted to release the global survey in Mumbai, which is home to one of the most vibrant and fastest-growing M&E markets in the world today. Several Indian M&E players are in the midst of rapid transition, brought on by a booming consumer base and the twin forces of convergence and competition. As companies scale up, the CFO's role is becoming increasingly critical both in capital raising for growth and management of risks,'' said Mr Nendick.

The report discusses a larger role played by the finance executives in the media and entertainment industry, which includes moving beyond handling the plain vanilla finance function to assisting the CEO in strategic decision-making, including scenario analysis, customer product analysis and investment optimisation in the dynamic media and entertainment segment.

Rapid changes in the media and entertainment industry have made it more complex and unpredictable. While this has brought many opportunities, there are risks that also have to be considered. This has placed the CFO function in a critical position. as the study findings point out, CFOs in the M&E space have to analyse how enterprise can derive more value from existing investments and operations.

UNI