后疫情时代更好地重建：媒体，娱乐和文化产业行动计划:世达文化产业

　3

　Executive summary

　Introduction

　1 Creating a stronger media ecosystem

　1.1 A stronger industry ecosystem will be trusted and transparent

　1.2 A stronger industry ecosystem will focus on increasing value and reducing waste

　8

　1.3 A stronger industry ecosystem will encourage media pluralism

　1.4 A stronger industry ecosystem will deliver value for the creative community globally

　1.5 A stronger industry ecosystem will put the consumer at the centre

　2 Accelerating digital transformation

　2.1 Building digital distribution capabilities

　2.2 Adopting digital production methods

　2.3 Employing data-driven operations

　2.4 Combating new cyberthreats

　3 Adapting the industry workforce

　3.1 Where work gets done

　3.2 Who does the work

　3.3 How the relationship between employer and employee changes

　4 Supporting responsible business through the global Sustainable Development Goals (SDGs)

　4.1 The industry’s impact on the SDGs

　4.2 The role of responsible business

　4.3 Building sustainable partnerships

　4.4 Establishing sustainable governance

　Conclusion

　Contributors

　Endnotes

　? 2020 World Economic Forum. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, including photocopying and recording, or by any information storage and retrieval system.

　July 2020

　Building Back Better: An Action Plan for the Media, Entertainment and Culture Industry

　Executive summary

　The purpose of this report is to identify and drive forward practical actions for advertisers, publishers, agencies and platforms to improve the media ecosystem in this phase of “building back better”

　post-COVID-19.

　While media consumption has accelerated during the pandemic, the main currency used for media monetization – advertising spend – has been pulled back across many channels, due to both economic and social concerns. Recently, many brands have halted their spending on platforms

　such as Facebook and Twitter. While the advertising revenue of such platforms is driven largely by small and medium enterprises, events of late may signal a larger shift in focus to the role that one’s business decisions play in driving societal change. For media companies with significant reach and influence over consumers, this responsibility is even more crucial.

　In the first in this series of research papers, we assessed how media organizations responded to COVID-19 and addressed their societal responsibility. In this second paper, we focus on the near-term and medium-term actions that can be taken to improve the financial viability, resilience and sustainability of the industry. We focus on four key areas:

　Creating a stronger media ecosystem across content creation, distribution and consumption innovation

　– We identified five key areas to drive a stronger media ecosystem: enhanced trust and transparency, better alignment of value

　with investments, media pluralism, a global community of creators and viewers, and renewed consumer focus.

　We examined the demonetization of harmful content through initiatives such as the Global Alliance for Responsible Media (GARM), in partnership with the Forum’s “ Shaping the Future of Media, Entertainment and Culture” platform.

　Accelerating digital transformation to drive innovation

　Digital distribution is no longer a choice – companies must decide whether to build, buy or partner to increase their digital capabilities.

　New digital production methods have created lower-cost and more authentic content – companies should consider how they adopt end-to-end cloud production tools to capture, edit, finalize and distribute content in a single workflow from start to finish.

　Notable innovation in the use of data-driven tools for revenue projections, content curation and moderation, and user experience will present new decisions for businesses.

　Three out of five consumers claim to avoid brands that do not demonstrate progress against the goals affecting our society

　and planet.

　With a significant increase in cyber threats during the COVID era, businesses need to take practical steps to increase their cyber resilience.

　Adapting the workforce and ways of working to support the next phase of industry growth

　Work has transitioned to home-office settings with varying degrees of effectiveness – businesses should consider what capabilities are needed to operate in a hybrid work model in the future.

　Worker profiles in demand will be in big data, analytics and revenue-related functions, as well as in security and data privacy, but the industry is unlikely to go back to pre-COVID employment levels.

　With heavy reliance on freelance and contract work, there is an opportunity to revisit the industry’s duty of care to its workers and reset on its representation of minorities. In addition, employers will need to find new ways to protect employees’ safety and mental health.

　Supporting responsible business through global sustainable development goals (SDGs)

　The urgency to act as responsible media businesses has never been higher, with three- quarters of media chief executive officers recognizing the critical role1 of businesses in society and three out of five consumers claiming to avoid brands that do not demonstrate progress against the goals affecting our society and planet.2

　Businesses should evaluate their impact in terms of environmental and social

　considerations and reset their activities in line with the SDGs.

　Responsible leadership is a critical enabler of sustainable governance. Top leaders exhibit five elements of responsible leadership: 1) stakeholder inclusion; 2) emotion and intuition;

　3) mission and purpose; 4) technology and innovation; and 5) intellect and insight.3

　At the end of this paper, we identify actions that companies can take immediately, such as reviewing their media investment strategies,

　employing new brand safety tools, implementing new ways to create an engaged workforce

　and many others. A number of the companies engaged for this report have already committed to such actions, and we encourage other companies for which these steps are relevant to carry them out within their own businesses. In the final paper of this series, we will highlight the lasting industry shifts that will result from the current crisis and the long-term plans that various parts of the media ecosystem should consider when developing

　their strategies.

　Introduction

　The Media, Entertainment and Culture Industry’s Response and Role in a Society in CrisisW H I T E P A P E RJ U N E 2 0 2 0 In the first in this series of reports, we explored how the media, entertainment and culture industry responded to COVID-19 and the immediate implications for society.

　The Media, Entertainment and Culture Industry’s Response and Role in a Society in Crisis

　W H I T E P A P E R

　J U N E 2 0 2 0

　The pandemic precipitated “three years of transformation in three months”. It presented both an imperative to respond and an opportunity to change, to build back better. It provided an opportunity to revisit long-held assumptions, to rebuild, redesign and reprioritize to create a more

　trusted, prosperous, resilient and equitable industry.

　In this report, we look at the opportunity to build back better in four ways, by:

　Creating a stronger media ecosystem in terms of content creation, distribution and consumption

　Accelerating digital transformation to drive innovation

　Adapting the workforce and ways of working to bolster the next phase of industry growth

　Supporting responsible business through the global Sustainable Development Goals (SDGs)

　The third and final report in the series will explore the impact of major industry shifts on the

　media ecosystem and the new challenges and opportunities this will create.

　1

　FIGURE 1

　Creating a stronger media ecosystem

　In conversation with industry executives, five themes emerge as opportunities to build a stronger media ecosystem.

　Key elements of a stronger media ecosystem

　1

　Enhancing trust and transparency

　Minimize harmful content, uphold data privacy and restore trust in institutions to earn the confidence of consumers and maintain a brand-safe environment for advertisers

　2

　Aligning value with investment

　Ensure the value delivered across the ecosystem is commensurate with the investment made

　3

　Encouraging media pluralism

　Drive innovation and competitiveness throughout the media ecosystem, including at a local level

　4

　Driving a global community

　Support a global community of content creators with access to a global audience

　5

　Focusing on the consumer

　Deepen the relationship with consumers by understanding and delivering on their needs to drive lifetime value

　A stronger industry ecosystem will be trusted and transparent

　Historically, the content supply chain has been creation and then distribution. We quickly found out that we needed to add a third pillar: verification.

　Josh London, Chief Marketing Officer, Reuters

　A trusted industry is one that both earns the confidence of consumers and maintains a brand- safe environment for advertisers. This is challenging for many reasons. “At a global level, people still trust each other more than governments and institutions. COVID-19 is accelerating trust shifts away from business and closer to other people, experts and in some cases even government officials,” says Camilo La Cruz, Chief Strategy Officer of sparks & honey, an Omnicom company. The company’s executives lay out three drivers of trust in this context:

　Institutional trust: designing media platforms that properly label expertise and give proper equity to the voices of experts across all areas of society

　Data privacy: ensuring that micro-targeting is done in a way that includes user consent and has full transparency from an advertiser standpoint

　Pro-truth behaviours: appropriate fact-checking of content that surrounds advertising

　These have not been easy to achieve during COVID-19 as harmful content on platforms has increased, in some cases by 15x,4 and broader societal tensions have flared up. The industry needs better systems and policies, and greater

　collaboration. News organizations are focusing efforts in this area. “It comes back to creation and verification working hand in hand, setting a quality control in newsgathering using the same tactics we use for verification: going back to the source, location- tracking and holistic views across emerging stories, for example,” says Josh London, Chief Marketing Officer at Reuters. “Where there is heavy use of

　user-generated content, distribution platforms should make it a priority to set up verification capabilities

　in-house or outsource more at scale so there are tighter controls on spreading misinformation. We’ve partnered with Facebook on a number of initiatives, including fact-checking programmes in the US, UK and Singapore and an e-learning course to help the industry at large,” he says.

　From a brand-safety perspective, the Global Alliance for Responsible Media (GARM), which launched in June 2019, is focusing on demonetizing harmful content by establishing shared, universal safety standards for advertising, creating common brand-safety tools across the industry and driving mutual accountability in the media value chain.

　Recent events have sparked further urgency for advertisers. In June 2020, Marc Pritchard, Chief Brand Officer at Procter & Gamble, announced a comprehensive review of the company’s media buying to ensure that it advertises on channels,

　networks, platforms and programmes that accurately and respectfully portray black people. At Cannes Lions Live, he said the review will ensure its ads do not appear next to content it determines to be “hateful, denigrating or discriminatory”5 and that “it’s time to create a responsible media supply chain that is built for the year 2030 – one that operates in a way that is safe, efficient, transparent, accountable and properly moderated for everyone involved, especially for the consumers we serve”.6

　Procter & Gamble has not ruled out pulling ads from Facebook, as other advertisers – such as Verizon and Unilever – have already done. Robert Kyncl, YouTube’s Chief Business Officer, said in a recent interview with the World Economic Forum and Accenture that providing a brand-safe environment is “table stakes”. “Without it, our ecosystem suffers. We will not earn revenue unless advertisers feel comfortable spending on our platform.”

　Both policy and execution need to evolve. With platforms ramping up the use of AI for content moderation during COVID-19, questions have emerged about the most effective practices for the future. What is the right balance between

　automated and human review? How can employers safeguard the mental health of their employees

　and ensure consistency in decision-making when workplace care programmes and control mechanisms are not able to function in the same way in work-from-home environments? What content should always be reviewed in a secure location, and what can be reviewed at home, if

　others could be exposed to it? A recent report by the NYU Stern Center for Business and Human Rights looked further into content-moderation practices and suggested reforms, including increasing the moderator-to-content ratio and systemic solutions and policies for worker wellness.7

　Automated checks at upload and content filtering, powered by machine learning, could help reduce the amount of harmful content that ends up online in the first place. The approach introduces friction, however, and some platform companies have concerns that it could give bad actors clues as to how the algorithms work or that it could

　be interpreted as targeting specific contributors. Regardless, it is clear that successful content governance will demand a hybrid approach of human and machine, pushing beyond existing technical and process boundaries to verify content. “Looking forward, Reuters sees enormous potential in the verification space for our customers,” says London. “Historically, the content supply chain has been creation and then distribution. With the internet and platform companies, we quickly found out that we needed to add a third pillar: verification. 2020 is the year where the market has become aligned to the recipe being creation, verification, distribution.”

　A stronger industry ecosystem will focus on increasing value and reducing waste

　Economic pressure and changing consumption and spending habits have put renewed focus on the functioning of the advertising value chain. As COVID-19 put pressure on marketing budgets, brands have heavily shifted spend to digital and accelerated investments in marketing technology (MarTech). However, while improved targeting across digital channels is more efficient, it does not increase transparency or reduce complexity in the current advertising supply chain. In a May 2020 ISBA report, 15 advertisers had nearly 300 distinct supply chains to reach 12 publishers and, of total advertiser spend, 15% could not be

　attributed, indicating potential waste and a lack of transparency in the system.8

　While the crisis has weighed heavily on advertising agencies, it provides them with a unique opportunity to transform the ecosystem. In the future, agencies can support efforts to help

　clients understand exactly what value each of the intermediaries in the value chain provides,

　champion data standardization and permissioning protocols across platforms and channels, and help brands understand the value of media spend in less measurable channels.

　A stronger industry ecosystem will encourage media pluralism

　COVID-19 has made the importance of a diverse and trusted media industry clearer than ever.

　The European Commission has emphasized that media freedom and pluralism are “pillars of modern democracy” and essential to open and free debate.9 However, over the past 15 years, more than 20% of newspapers in the US have closed down, and the number of newspaper journalists has been cut in half. The New York Times took action in May 2020 by launching a campaign encouraging readers to support their local newsrooms, providing direct links to local outlets’ subscription pages.10

　News consumption has grown significantly during the pandemic, but advertisers’ approach to keyword blocking has held back monetization. Many – including Jennifer Cobb, Executive Director of United for News, and John Montgomery, Executive Vice-President, Global Brand Safety at GroupM,

　in a recent Forum Agenda article – challenge this

　position, suggesting that advertisers can accrue trust where the news source is trusted. They highlight how news can deliver a quality, impactful audience to advertisers and increase the likelihood of ads’

　key messages becoming encoded in memory.

　A recently published brand safety playbook,11

　co-authored by Montgomery, predicts that suitability and adjacency of advertising to harmful content

　will continue to be a concern, particularly on social platforms and in new media such as gaming and podcasts. In order to avoid blocking news altogether, which compounds the risk to media pluralism, especially to local news, a more nuanced and contextual approach is needed, which may demand additional time and resources from brands and

　their providers. Many countries are also exploring changes in regulation to promote innovation

　and ensure competitiveness in all parts of the media ecosystem.12

　A stronger industry ecosystem will deliver value for the creative community globally

　55% of revenue generated by YouTube creators comes from outside their home country.

　Content creators are at the heart of a healthy media ecosystem. Creators need to be able to monetize their content and tap into a global

　market. As digital platforms and streaming services grow, creators across the globe can access larger audiences. “There are more people making money off content than ever before and 55% of revenue generated by YouTube creators comes from outside their home country,” said Robert Kyncl.

　The success of K-pop (Korean pop) and Latin performers has demonstrated the ability of local creators to tap into the global market. Kyncl noted that shows such as La Casa de Papel (otherwise known as Money Heist) on Netflix would probably have never made it to the US if it weren’t for global streaming platforms. A global content marketplace also means that production can be more resilient to local disruptions. A healthy ecosystem will

　enable new individual creators to start small and grow a brand and a business. Supporting a large and diverse group of creators through access to a globally engaged audience is key to long-term ecosystem health, says Kyncl. Creators need

　reach, consumers want relevance and advertisers look for both – this value exchange needs to be upheld for the ecosystem to thrive long term.

　A stronger industry ecosystem will put the consumer at the centre

　COVID-19 has made clear that where the consumer goes, the industry needs to follow, and quickly.

　Facebook brought its Facebook Gaming mobile app forward two months as online gaming exploded.13 An Italian consortium of cinema companies took MioCinema, a new digital service, direct to an at- home audience.14 To succeed in the long term, the industry will need to adapt to changing consumer behaviours with greater agility in its content creation, distribution and business model.

　While COVID-19 was a unique customer- acquisition event for digital services and

　products, the focus is now on retention and deepening customer relationships. All parts of the industry are using data to understand their new customers and ensure relevance, and putting greater store in lifetime value (LTV) and customer life-cycle management.

　By recognizing that relationships rely on a marriage of data-driven targeting and analytics capabilities (the “how”) and the engaging, relevant creative content that users connect with (the “what”) in order to deliver value, distributors, creators and brands will all be in a position to build more lasting customer relationships.

　There will be a flight to qualit

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