Interview with Kevin Westcott
The COVID-19 pandemic will continue to shape business strategies in the telecommunications, media, and entertainment sectors in 2021. In media and entertainment, the pandemic has accelerated many trends that have already started. For example, after cinemas close or only allow a limited number of visitors, major studios are increasingly making the first film available to consumers via streaming services. In addition, with the increasing consumption of streaming content, we are not only seeing growth in the number of subscription services, but also in ad-supported models that satisfy more and more consumers with budget awareness. In addition, customer loyalty (about acquisition) has become increasingly important, making it important for suppliers to offer a variety of content – videos, music, games, and even podcasts. The new reality places a lot of emphasis on understanding consumer behavior patterns and developing a more nuanced approach to customer interaction. As consumers experiment with their entertainment options, we strongly encourage suppliers to pursue new and flexible approaches to content development, aggregation, and distribution.
We expect telecom companies to continue to form the basis for the recovery and success of other sectors in 2021. Telecom providers have the opportunity to create a new future for businesses and consumers based on advanced wireless technologies such as 5G. We believe the move to next-generation networking has the potential to change the way industries work, create competitive advantages and create new opportunities for change. Telecom providers need to help their customers envision what’s possible in new cases of 5G use that could change their industries. They should shift their conversations from focusing on technical skills to specific outcomes and benefits that will help others on 5G. As business adoption of 5G grows and computing grows, telecom companies will likely need to combine many different skills and partners to take advantage of the opportunity. We are curious how it will develop next year.