Strategy consulting firms with the most clients in Comm / Media / Entertainment

Hi,

I specialised in M&E so can answer this with some confidence. You are right in that there is generally less coverage from the big strategy houses within M&E with most focussed more on the Telco side.

My observations on why this was the case was that 

• M&E corporates preferred to keep strategy work in-house instead of farming out - they would RFP out more tactical pieces around go-to-market such as pricing, M&A screening, tech transformation
• The top studios, producers, broadcasters, and content creators had strong in-house strategy teams to rely on e.g. Disney SPG, NBC Strategy, BBC strategy - often poached from the consultancies
• Geographic coverage played a part with the big conglomerates keeping strategic work close to base i.e. West Coast - and the regions acting almost as satellite offices - this meant the work shipped out in Europe was less corporate strategy and more executional

Now, that said, at Strategy&, there was a strong portfolio of media clients, particularly driven from the PwC relationship. Especially in MENA. Big 4 was a sweet spot for ops and strategy work within M&E. I personally know people at who did work in media were Deloitte(Monitor and S&O), Accenture (but more tech implementation so not strategic), and OC&C (a bit)

Boutiques that are known for this sort of work are -  Activate, MTM, Oliver & Ohlbaum (index towards rights owners though).

I disagree with some of the other commenters on Delta Partners who are more heavy on the telco side more than anything else

Hi there! I was active in the media industry and as consultants in the media industry in Europe prior to joining strategy consulting. I can tell you from that experience that the media industry is a very particular industry. 

As you pointed out strategy consultants are heavy on comms; they all have experience with media clients but it is generally a weak portfolio. Second, clients in media and entertainment are not fans of using consultants, they generally struggle with budgets, and it is not a fast-growing industry. Therefore, making it very unappealing for bigger consultant firms as well as for the clients themselves.

1) There are some boutique consulting firms including Bow and Arrow (now a part of Accenture) that have a strong portfolio in media. Out of all consulting firms, PWC is most likely the consultant with the largest presence in the media industry. 

2) If you really want to work in media you are likely to be better off going into industry. The exit from consulting into media/entertainment is also not particularly high until you get to a VP/C-level situation

Hello!

Interesting question!

MBBs don´t focus too much on this indsutry, since they are not fast-moving players or with the budgets needed to pay for a project that Telco´s can afford. 

This said, there are some projects, and for sure you can get specialized on those. However, I see it very very difficult -and you will do many telco engagements along the way, hehe-. 

I would investigate mostly Accenture and PwC in your shoes. 

Best of luck!

Cheers, 

Clara

Hi, I would recommend to check Delta Partner because they are specialist in this area. Other than that I find it this sub-sector typically don't use a lot of consulting services.

Hello!

I hope everything is going well!

I answer your two points:

1) For TMT consulting the firm Delta Partners does an outstanding work both in Telco and Media. Their main offices are in Dubai, Barcelona and NYC and have offices mainly in developing countries, where they focus part of their work. It is really good firm and I would definetely recommend them to you if you want to pursue a career in TMT, they are specifically focused on the sector in stategy consulting, investment banking and corporate finance. I can provide further references of people there if needed, don`t hesitate to contact me if you want

2) This is a more personal decision. I would only recommend jumping into industry at least after ~5years in consulting as it is the time when you might be able to enter in a good position and balance the lost on caree speed progression that you are ensured in consulting. In any case we can discuss further if you want my point.

Hope it helps!

Dear A,

I would recommend you to put an eye not only on MBB, but also on Oliver Wyman, because they are strong in that particular sector, as well as boutique firm called SOLON. It's really great boutique, totally specialized in these three sectors and could be a good fit for you. I have helped one of my mentees to get an offer there, and he is absolutely satisfied. And, for example, in Italy they pay the same as McKinsey. 

Hope it helps,

If you have any further questions, feel free to reach out.
André