The media industry is undergoing rapid technological change and facing strong competition from digital platforms. Nevertheless, high-quality content and the media's ability to adapt to the way audiences consume it today remain decisive factors for success. This was the consensus among media managers Klára Brachtlová, Lenka Černá and Martina Říhová at the TOP ženy Česka conference organised by Hospodářské noviny on Tuesday.
According to Klára Brachtlová, Deputy CEO & Chief External Affairs Officer at CME, technological development is one of the most significant changes in the media business in recent years. However, the basic principle remains the same. "Regardless of technology, viewers and users are still primarily interested in quality content and strong formats," she said.
Martina Říhová, CEO of Czech News Center, assesses the situation similarly. She pointed out, for example, the influence of artificial intelligence, which accelerates some processes in content production. At the same time, however, it highlights the differences between individual creators. "The best ones are even more efficient thanks to new tools, while for some others, adaptation may be more difficult," she said.
According to Lenka Černá, CEO of Economia, the current media market is characterised above all by the speed of change. Moreover, the rapid pace of change makes long-term planning difficult. "It is very difficult to predict media developments three or five years in advance today. It is therefore crucial for media companies to speed up internal processes and be able to respond quickly to new trends," she said.
Impact on business models
The discussion also touched on the relationship between media operators as content producers and technology platforms. According to Černá, media companies today are primarily trying to attract and retain the attention of audiences, which are increasingly shifting to social networks and digital services. In addition, media houses are also addressing the issue of the use of their content by technology companies and their share of advertising revenue. They are not adequately compensated for the use of their content by platforms.
The transformation of the market is also reflected in media business models. Martina Říhová said that media companies are now expanding their activities into other areas, such as events, podcasts and other digital projects. In the case of Czech News Center, this involves hundreds of events a year, from smaller professional meetings to large projects such as ComicCon. The change from the past is that media companies now have to actively seek out audiences on various platforms. "It's not enough to create content and wait for people to find it. You have to be where they consume it," said Říhová. According to her, the transformation of the media business is in many ways reminiscent of the development of the music industry. In the past, it relied primarily on record sales, but gradually concerts and other activities surrounding performers became the main source of income.
Working in the media? Emotion, dynamism and trust
According to the managers, working with creative teams and editorial offices is also specific to the media environment. Lenka Černá pointed out that in independent media, management does not directly control the day-to-day work of the editorial office, but creates a framework for its functioning, and the editor-in-chief is responsible. "The editorial office is, to a certain extent, a black box. You see the outputs, but the operational management is in the hands of the editor-in-chief," she said, adding that trust between management and the editorial office is essential.
Despite rapid changes, the managers described the media sector as an attractive but also very dynamic environment. According to Klára Brachtlová, people considering a career in the media should be aware that it is a field that is constantly changing. "I recommend preparing yourself for a wild ride. It's just an incredibly dynamic, constantly changing environment, which is beautiful, but sometimes terribly cruel," she explained.
Source: mediaguru.cz