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How do European media leaders see the future?

By Media Makers Meet (Mx3)6 months ago

What are the main challenges and opportunities for the next three years, according to European consumer and B2B media leaders? Which technologies do they plan to invest most in the next three years? And how does consumer and B2B leaders’ outlook differ?

We were curious about the answers to these questions, so we surveyed 56 mostly B2B media leaders in April and 64 mostly consumer media leaders in the past month for their views.

The surveys form part of our Innovators in Specialist Media Europe reports. The first edition (B2B emphasis) launched in June. The second one (B2C emphasis) will launch in November. Both will be brought to life at our Mx3 Barcelona event in March 2023 (more here).

We see from the surveys that there are slight differences in the views of B2B and consumer media execs, although this is not on a large scale. New revenue streams are among the top challenges for B2B, while for consumer media execs, it is about finding the right people.

For B2B execs, a top opportunity is diving deeper into niches, while for consumer media execs, it is exploring and implementing AI. The difference in the time frame of the surveys may have had an impact here.

Both indicated content management systems as the top priority when asked about tech investments in the next three years. Other priorities in the top five included AI, subscription, and data platforms. The one difference was CRMs being B2B execs’ fifth priority versus consumer media execs’ choice of video and audio distribution platforms.

See more about the challenges, opportunities, and tech investment areas below.

**Mx3 Q Update**

On 12-13 March 2024, we are running a specialist event focused on innovation in the specialist media sector, where we will have international speakers, attendees, and other partners sharing insights, ideas, and opportunities for collaboration.

Find out more and sign up for Mx3 Barcelona as we bring media innovation conversations to life. Speakers so far confirmed are from companies such as Berlin Consulting, Boom Saloon, FT, Industry Dive, Morning Brew, Propolis, Splice Media, Wolves Summit, Spainmedia, and RBA Revistas, with many more to come.

LEARN MORE AND SIGN UP

What do they see as the main challenges in the next three years?

For B2B media leaders, the top three challenges were:

  1. Developing new revenue streams (45 per cent of respondents)
  2. AI (43 per cent of respondents)
  3. Managing subscriptions or membership churn (42 per cent of respondents)

For consumer media leaders, they were:

  1. Finding the right people (staffing) (43 per cent of respondents)
  2. Managing subscriptions or membership churn (42 per cent of respondents)
  3. Optimising subscriptions (36 per cent of respondents)

What do they see as the main opportunities in the next three years?

For B2B media leaders, the top three identified opportunities were:

  1. Diving deeper into niches (54 per cent)
  2. Exploring and implementing AI (50 per cent)
  3. New product development (45 per cent)

For consumer media leaders, it was:

  1. Exploring and implementing AI (61 per cent)
  2. New product development (45 per cent)
  3. Diving into niches (39 per cent)
**Mx3 Q Update**

Don’t forget that on 7 December, we will gather bright minds in London to discuss AI and its implications for media. Mx3 AI will feature topics ranging from big-picture strategies to regulatory considerations, from content and product development to marketing and monetisation.

Speakers so far confirmed are from Bauer Media, FT Strategies, GenAI Con, Ipsos, the JournalismAI Project at LSE, FIPP, Maitland Chambers, FIPP, and William Reed, with more to be announced soon.

LEARN MORE AND SIGN UP

Which tech areas will they invest in in the next three years?

For B2B media leaders, the top five areas are:

  1. Content management systems (52 per cent)
  2. Data and analytics (46 per cent)
  3. Subscriptions and membership (41 per cent)
  4. AI (41 per cent)
  5. CRM: (36 per cent)

For consumer media leaders, it was:

  1. Content management systems (54 per cent)
  2. Subscriptions and membership (42 per cent)
  3. Data and analytics (36 per cent)
  4. AI (35 per cent)
  5. Video and audio distribution platforms (28 per cent)

ICYMI, you can download the first edition of our Innovators in Specialist Media Europe report here (it’s free). Our second edition will launch in the second half of November.

Remember to join us for Mx3 Barcelona (innovation in media, 12-13 March 2024 in Barcelona) and Mx3 AI (AI trends, strategies and practice, 7 December 2023 in London) as we bring the above talking points to life!