Challenges and Opportunities
Finding solutions to your problems
The Entertainment and Media (E&M) industry is facing numerous challenges, and you need to be familiar with the issues that could affect your business, such as:
General challenges and opportunities
- Shift to digital: You must adapt to the change as consumers access content online and through other non-traditional methods. This also creates multiple opportunities for you to profit.
- Tax incentives: To grow or finance projects, you might be able to depend upon your traditional lender. The key is to know the range of funding sources available, which is best for your company and create a strategy for getting that capital.
- Protecting intellectual assets: The digitization of music and movies creates a host of new copyright infringement and piracy risks for you by opening the door for consumers to obtain and share unauthorized copies of digital assets.
- Advantages of doing business in Canada: If you’re a foreign company wanting to develop an eligible product in Canada, you can take advantage of the country’s low corporate taxes and generous tax incentives.
- Risk avoidance: You rely on internal audits to deliver a breadth of expertise in addressing key business risks to management and stakeholders. As a result, you expect your internal audits to provide proactive and consultative services in specialized areas.
- Cost cutting: No company, including yours, is immune to the need to watch their bottom line. Due to the rapid rate of change through global and digital convergence, cost minimization is more than ever.
- Currency fluctuations: The Canadian dollar has risen steadily over the past few years, contributing to reduced foreign investment due to increased production costs, thus impacting your business.
Contact an industry professional in your area to discuss how we can help you address your challenges.