The outlook for mergers and acquisitions in the media and entertainment sector is looking stronger as CEOs surveyed by consultant EY (formerly Ernst & Young) see convergence and digital technology advances driving additional deals.
According to EY’s 15th biannual Media & Entertainment Capital Confidence Barometer (CCB), about 31% of CEOs surveyed picked sector convergence as the greatest disruptor to media and entertainment businesses.
Digital remains at the heart of corporate strategy in the sector. Nearly a third (31%) of executives saw the impact of digital technology on the business model at the top of the boardroom agenda over the past six months.
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Those two factors are also forcing executives to seek out cross-sector deals and making deeper dives into adjacent or unrelated industries. According to the report, access to new technologies is the strongest driver toward such transactions, according to 67% of executives.
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