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Contents

Advisory Board xi About The Authors xii Preface xiii Acknowledgements xv Chapter 1 Introduction 1 Media: One or Many Industries? 1 Current State of the Industry 5 Focus and Scope of the Book 11 Chapter 2 Rebalancing the Media Value Chain 13 Current Practices Mostly Historically Grown 13 Fundamental Changes Still Ahead 20 Consequences for the Management of Media Companies 29 Is a Fundamental Rethink of Future Business Models Needed? 34 Key Takeaways 36 Case Study: The Welt Group: Creating New Business Models For News Provision 38 Case Study: Hubert Burda Media: In Search of New Digital Business Models 57 Case Study: Mediaset: From Focused Broadcaster to Value Chain Operator 69 Chapter 3 Creating and Leveraging Innovative Content 83 Future Role of (Blockbuster) Content 83 Should Content be Redefined? 89 Management of the Content Generation Process 92 Peer Production, User-generated Content and Co-creation 101 Key Takeaways 102 Case Study: Endemol: Diversifying the Content Portfolio 104 Case Study: OhmyNews: Creating a Sustainable Model for Content Co-creation 112 Chapter 4 The Fight for Customer Attention: Intelligent Mass Marketing and Cautious Niche Strategy 121 The Increasing Need to Understand Customers 121 Strategic Brand Management 128 Fine-Tune the Marketing Strategy to Revenue Model 133 Marketing Strategies for Subscription-based Players 136 Marketing Strategy for Niche and Thematic Offerings 141 Key Takeaways 143 Case Study: Canal+: Keeping Consumer Loyality in the Face of Platform Competition 144 Case Study: EMI: Developing New Marketing Models for the Digital Age 156 Case Study: Telenet: Leveraging Digital Segmentation 167 Chapter 5 End-to-end Supply Chain Management 179 Achieving Operational Excellence in Supply Chain Management 179 Enhancing the Effectiveness of Standardized Media Supply Chain Processes 181 Improvement Levers for Non-standardized Processes in the Media Industry 189 Managing the Transition to Digital Platforms 192 Key Takeaways 197 Case Study: RTL Group: Creating a Digital Value Chain 198 Chapter 6 Ways Out of the Advertising Commodity Trap 211 Traditional Advertising Under Increasing Pressure 211 The First Wave of Advertising Spending Shift: Direct Marketing and Below the Line 213 Digital Technology at the Core of the Second Wave 214 Reaching New Capabilities in Advertising 226 Key Takeaways 247 Case Study: Schibsted: Diversifying the Advertising Source 248 Chapter 7 Corporate Strategy in Media 259 Current Media Landscape 259 Future Portfolio Logic 266 Key Takeaways 276 Case Study: Liberty Global: Multichannel Portfolio Play 277 Case Study: Lagardere Active: Restoring Growth Through Operations 284 Case Study: Sanoma Group: Restructuring the Portfolio for Growth 293 Chapter 8 The Future Role of Online Media 303 Online Start 1995--2001: 'Overestimate in the Short Term' 303 Period of Consolidation 2002 to 2008: Building the Digital Platform 306 Online Media Business Models 312 Key Takeaways 321 Case Study: Second Life: Peer Production Through Co-creation 322 Case Study: YouTube: Building Social Media 330 Chapter 9 People Management in Media Companies: Creative Managers or Managed Creativity? 339 Current People Management Practices in the Media Industry 339 Current Challenge: Embrace 'Creators' Yet Do Not Understate 'Transformers' 341 Common Principles of People Management Processes for 'Creators' and 'Transformers' 342 Management of 'Transformers' 345 Management of 'Creatives' 346 People Management in the Digital Media Era 356 Outlook and Open Questions 364 Key Takeaways 364 Case Study: BBC: Adapting the Organization to the Digital World 366 Index 375

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