Shift to Online and Mobile Represents a Challenge and Opportunity for Entertainment Industry
04 2월 2013 - 10:00PM
Marketwired
In recent years, the media and entertainment industry has seen a
shift toward online and mobile distribution of content. This shift
represents both a challenge and an opportunity for media and
entertainment companies such as Starz and News Corp. Media and
entertainment companies are innovating and adapting to the changes
in the industry in order to be successful in the present
environment. Companies are changing the way they develop and
distribute content, given the shift to digital. However, this also
represents a great opportunity as media and entertainment companies
can broaden their reach.
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The challenging economic environment has meant that advertisers
have been a lot more demanding in recent years. In addition,
advertisers are spending more on digital marketing. This represents
another challenge for the media and entertainment industry and
makes the shift to digital even more important. Changing consumer
behavior and economic uncertainty are other challenges facing the
industry.
Given the challenges facing the industry, News Corp. last year
decided to separate its publishing and media and entertainment
businesses. The global media and entertainment company will include
News Corp.'s broadcast and worldwide cable networks, leading film
and television production studios, television stations and highly
successful pay-TV businesses in Europe and India.
Rupert Murdoch, Chairman and CEO of News Corp., believes that
the new structure would simplify operations and enable each company
to deliver on News Corp.'s commitments to consumers across the
globe.
The media and entertainment group will be named Fox Group.
Murdoch will serve as the Chairman and CEO of Fox Group, while
Chase Carey will be the group's President and COO. Fox Group plans
to continue to strengthen its creative content businesses and
distribution assets, including improving its sports portfolio
through key investments in Asia, Europe and Latin America.
In December last year, the company filed Form 10 registration
statement with the SEC for the planned separation of its
businesses.
News Corp. will release its second quarter fiscal 2013 financial
results on February 6, 2013. In the first quarter of fiscal 2013,
News Corp.'s Cable Network Programming division, which will be part
of the new media and entertainment company following the spinoff,
reported operating income of $953 million, representing an increase
of 23% over the same period in the previous year. The segment's
revenue for the quarter rose 16%. Filmed Entertainment group, which
will also be part of Fox Group, reported operating income of $400
million in the quarter.
Earlier this month, Starz completed its spinoff from Liberty
Media. The spinoff was announced back in August last year. The
decision to create two separate publicly traded companies was taken
in order to provide better transparency on the Starz operating
business, optimize the Starz capital structure and to pursue
strategic objectives.
Following the spinoff, Starz operates units that provide premium
subscription video programming on domestic U.S. pay television
channels, global content distribution and animated television and
movie production.
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