KPMG BrandVoice: What Media Companies Need To Prioritize Now: Customers, Cash, Cost And Capital

I introduced three coordinated series of actions that media businesses should undertake in response to COVID-19 challenges: 1. Resilience, 2. Recovery, and 3. New Reality.

Today, I will discuss the immediate actions media companies should take to preserve cash, maintain a strong connection to their customers, and position themselves for business continuity. These “Four Cs” – Customer, Cash, Cost, and Capital – are a handy way to think about the top priorities in these turbulent times.COVID-19 has a good-news/bad-news impact on the media industry’s customer growth. It has led to a spike in streaming and broadcast TV viewership. For example, Netflix added 15.

Under these conditions, it is essential to evaluate the shifts in customer data. Companies should perform revenue analytics and model churn risk to understand changes in demand patterns and the resulting implications for pricing to be able to react swiftly.

Businesses should assess how their cash and liquidity levels can support them through times of disruption. Further, businesses should identify opportunities to improve working capital positions, using rapid diagnostics and impact assessments for accounts receivable, accounts payable, ability to monetize existing content libraries and archives, etc., and access any funding opportunities the CARES Act provides to quickly optimize cash flow for the business.

Immediate actions that preserve cash, give confidence to customers and employees, and ensure business continuity through cost containment will better position companies for recovery.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Walmart becomes biggest company to mandate customers wear masksShoppers at Walmart Inc stores will have to wear face coverings, the world's largest retailer said on Wednesday, mandating what is widely seen as an effective measure to control the spread of the new coronavirus. Good Corporations picking up the Fed’s slack 3 months after the fact While I applaud their decision. I just want to point out that Costco did that months ago. They made sure every customer wear a masks. Shopping carts are sanitized. And limit the numbers of shoppers. Which I so appreciate.
Source: Reuters - 🏆 2. / 97 Read more »