New Kid In Town.

The Future of….Data and Delivery
– by Clifford Perianayagam, Media and Entertainment, Telstra Global

I’ve been listening to a lot of the Eagles recently and one song, in particular, New Kid in Town.

I did a quick search on YouTube and found the Capital Center 1977 live rendition of it. It’s amazing that on a whim and within a few seconds, I can watch a crystal clear copy of a 40 year-old performance – and feel as if I was there.

But that is the world we live in now.

We get what we want when and where we want it.

In this age of instant gratification, data and delivery rules. Having, understanding and delivering using this data means traditional business models and resourcing will need to change. Take the automobile industry: an average 2015 high-end car has about 100 million lines of code, compared to the space shuttle which only had 400,000.

Globalisation blurs borders and digital technology is blurring industries. In the sector I focus on, Media & Entertainment, the challenges and opportunities for content creators to distributors are many.

But it’s not just physical to digital – recently, there have been rumours of Amazon planning on opening 300-400 bricks and mortar bookshops. (I can only dream that Netflix is going to open physical stores I can loiter in whilst waiting for my takeaway to be ready.)

So, how do you tackle this, especially if you’re currently doing well or leading in your field – do you cozy up and share secrets with strangers or go into a bunker and do it all by yourself? In a recent report, written by The Economist, Connecting Companies: Strategic Partnerships for the Digital Age, the data suggests that companies that build the right partnerships have a better chance to not just survive in the 21st Century, but to thrive.

In terms of finding this right partner here are 5 tips:

  • Take chance out of the connection – get serious about finding the right match
  • Know what your role is in the relationship
  • Admit your faults and be open to change
  • Be promiscuous but take precautions
  • Set reasonable expectations and be patient

It’s not at all dissimilar from dating, in many respects. Certainly, the wrong partner can lead to disastrous results.

But, pick the right one – and put the work in, and you’ll soon have something that is far greater than the sum of the parts.

Much like, perhaps, The Eagles themselves….

– with thanks to the author Clifford Perianayagam, Telstra Global.

 

Monticello LLP