Driving Growth for a Midsized Broadcast & Media Company with a Focused Flywheel Strategy

Executive Summary:

Global Media Consult (GMC) was engaged by a midsized broadcast and media company to address challenges in their product portfolio and identify new avenues for growth in a rapidly evolving media landscape. This client, with a strong legacy in traditional broadcasting, sought to adapt to the digital age and secure its future success. GMC conducted a comprehensive analysis of the client’s existing offerings, target audience, and competitive landscape. Leveraging our expertise in flywheel strategy development, we recommended a focused approach that optimizes the client’s strengths and capitalizes on emerging opportunities. This resulted in the successful launch of a new products.

Challenge:

The client faced challenges typical of many traditional broadcasters in the digital age:

  • Shifting Audience Consumption: Viewers are increasingly migrating to digital platforms, fragmenting the audience and impacting traditional advertising revenue.
  • Increased Competition: New entrants in the streaming market and evolving digital platforms intensified competition for audience attention.
  • Portfolio Stagnation: The client’s product portfolio lacked the agility and innovation needed to attract and retain viewers in the digital age.

Solution:

GMC applied the flywheel strategy framework to address the client’s challenges, focusing on these key areas:

  1. Content Optimization: We analyzed the client’s existing content library and identified key assets with high potential for digital repurposing and audience engagement. This included using AI to better promote content and increase audience engagement. We also identified better long tail use of content.
  2. Audience Development: GMC developed a data-driven audience development strategy, leveraging analytics to understand viewer preferences and tailor content delivery across various platforms. This involved  targeted social media campaigns, personalized content recommendations, etc.
  3. Monetization Diversification: We recommended a multi-faceted monetization approach, combining traditional advertising with new revenue streams such as FAST Channels and ad income from social media.
  4. Strategic Partnerships: GMC identified potential partnerships with complementary businesses to expand the client’s reach and enhance their offerings. This included collaborations with technology providers, content distributors, or other media companies.

Results:

By implementing GMC’s recommendations, the client achieved significant improvements:

  • Increased Audience Engagement: Amongst some metrics we saw, e.g., 15% increase in website traffic, 20% growth in social media followers, etc.
  • New Revenue Streams: We can see the success of new monetization initiatives, e.g., successful launch of a streaming service with significant number of  subscribers, increased revenue from targeted advertising, etc.
  • Enhanced Brand Perception: We saw better brand reception, e.g., improved brand awareness, increased customer loyalty, etc.

Conclusion:

GMC’s expertise in flywheel strategy development enabled the client to navigate the challenges of the evolving media landscape and achieve sustainable growth. By focusing on content optimization, audience development, monetization diversification, and strategic partnerships, the client successfully revitalized their product portfolio and strengthened their position in the market. This case study demonstrates GMC’s ability to provide effective solutions for midsized broadcast and media companies seeking to thrive in the digital age.