Case Study: MTV
MTV
Strategic management is the process of analyzing the current situation, developing appropriate strategies, putting those strategies into action and evaluating and changing those strategies as needed (Coulter, 2013). This is exactly what MTV has done over the years since the beginning of its journey, which began in 1981. MTV has been using a first in market strategy, with the addition of MTV Asia, Latin America, Turkey and Arabia, which in turn is helping them to succeed by focusing on several different ranges. Due to MTV covering such a wide array, they have an estimate of over 120 channels worldwide (Coulter, 2013). In 2010, MTV’s ratings in their core audience, 18-34 year-olds, has increased 16 percent; this is the biggest annual increase since 1999 (Coulter, 2013). Since becoming a subsidiary of Viacom, MTV now owns and operates other cable networks, which include Nickelodeon, CMT and Spike TV, among many others (Coulter, 2013). The cable network also operates MTV films in addition to Paramount Pictures. Because MTV has broaden their horizons, it continues to be the financial engine of Viacom, in 2011 MTV accounted for an estimate of 61 percent of Viacom’s annual revenue and operating profits (Coulter, 2013).
Just as with anything else, in order to continue to be successful, plans must be put into place. Despite the success that MTV has had since 1981, they also must continue to find ways to maintain their success.
“As a brand, MTV has moved beyond durable, managing to reinvent itself continuously and in doing so presenting a fast moving target that has left many would-be rivals in the wake.” (Coulter, 2013)
Based on this statement, I do not believe that MTV will face any challenges in regards to crafting future digital and global strategies; although their website Overdrive never took, right along with their digital store Urge (Coulter, 2013). It has been proven over the years with the different implementations MTV has made, with the
Strategic management is the process of analyzing the current situation, developing appropriate strategies, putting those strategies into action and evaluating and changing those strategies as needed (Coulter, 2013). This is exactly what MTV has done over the years since the beginning of its journey, which began in 1981. MTV has been using a first in market strategy, with the addition of MTV Asia, Latin America, Turkey and Arabia, which in turn is helping them to succeed by focusing on several different ranges. Due to MTV covering such a wide array, they have an estimate of over 120 channels worldwide (Coulter, 2013). In 2010, MTV’s ratings in their core audience, 18-34 year-olds, has increased 16 percent; this is the biggest annual increase since 1999 (Coulter, 2013). Since becoming a subsidiary of Viacom, MTV now owns and operates other cable networks, which include Nickelodeon, CMT and Spike TV, among many others (Coulter, 2013). The cable network also operates MTV films in addition to Paramount Pictures. Because MTV has broaden their horizons, it continues to be the financial engine of Viacom, in 2011 MTV accounted for an estimate of 61 percent of Viacom’s annual revenue and operating profits (Coulter, 2013).
Just as with anything else, in order to continue to be successful, plans must be put into place. Despite the success that MTV has had since 1981, they also must continue to find ways to maintain their success.
“As a brand, MTV has moved beyond durable, managing to reinvent itself continuously and in doing so presenting a fast moving target that has left many would-be rivals in the wake.” (Coulter, 2013)
Based on this statement, I do not believe that MTV will face any challenges in regards to crafting future digital and global strategies; although their website Overdrive never took, right along with their digital store Urge (Coulter, 2013). It has been proven over the years with the different implementations MTV has made, with the