A survey of media and broadcast industry professionals has unveiled the importance media and technology professionals are placing on collaboration as a driver for business success and creativity.
The research, conducted by the UK’s leading broadcast, production and media technology tradeshow – Broadcast Video Expo (BVE) – found that 88 per cent of media and entertainment industry professionals identified collaboration as critical for skills and knowledge, while 83 per cent believe it helps drive a new wave of innovation, and 77 per cent growth. Furthermore, 87 per cent claimed collaboration has a positive impact on creativity and 81 per cent championed its link to business success.
Against the current backdrop of digital disruption and political uncertainty, BVE’s findings highlight the importance of collaboration and cooperation – calling for the industry to come together to protect the UK’s unique creative ecology.
Some 58 per cent of the media and entertainment industry agrees that collaboration is more important today than it was a decade ago, and this is particularly prevalent with those in Heads of Department positions (68 per cent).
According to Ofcom, digital disruption is set to continue with there now being more UK subscriptions to streaming platforms, such as Netflix, Amazon Prime and Sky’s Now TV, than to established pay-TV services. Furthermore, traditional TV consumption among the younger generation is slumping with BBC finding its viewing figures from those aged between 16 and 34 tumbling by 36 per cent, since 2013.
However, with 83 per cent of the industry believing collaboration will drive a new wave of innovation and business growth there’s an opportunity to leverage it as a force for good in order to increase competitiveness in an industry that is so pivotal to society.
Terry Washington, BVE Event Director, commented: “The creative industry contributed close to £92 billion to the UK’s economy in 2016, growing at twice the rate of the UK economy and it needs to stay alive. In an age of digital disruption and growing political uncertainty, it’s never been more important for the industry to unite. By coming together to collaborate, share ideas and find solutions to the everyday challenges we face as an industry – across all touchpoints and workflows – we can better future-proof, protect and drive forward Britain’s unique TV and film ecology which contributes so much to our economy and culture.”
The imminence of Brexit creates yet another call to action for the industry to come together, and quickly. A staggering 53 per cent of industry professionals do not feel adequately informed about how Brexit will impact their business and given the true cost of Brexit remains to be seen, industry experts are calling for greater clarity.
Terry Washington, BVE Event Director, added: “We just don’t know enough about Brexit today and what it will do to our industry, which is putting even greater impetus on industry collaboration. Industry events are a great platform for knowledge sharing and idea generation, offering an invaluable opportunity to get a feel for what peers are doing. As an industry, it’s our job to work together to look at the challenges that may come down the line and start to contingency plan as a collective.”