Strategic Business Risk: Media and Entertainment
Source: Ernst & Young
Financial risk and regulatory risk have been the focus of much of this effort. In both cases, there are externally determined rides and frameworks with which companies in media and entertainment need to comply and emerging best practice guidance on processes and controls that can help. It has worked with many M&E companies who have found that the challenge of compliance can lead to opportunities for performance improvement through improved processes and enhanced communication. Some are now looking more closely at their operational risks, prioritizing these and thinking about how they can manage and monitor these in a coordinated way, the result of which can again be opportunities for performance improvement.