Market-by-market analysis finds international growth opportunities and success factors for pursuing them.
In the face of slowing revenue growth, a television production company asked McKinsey to help develop an international growth strategy. The scope of the project included analysis of existing operations as well as new market-entry opportunities in emerging and non-core markets. The overall objective was to develop an emerging market strategy with specific targets and supporting implementation plans.
The McKinsey team undertook a fact-finding effort and identified more than 20 potential emerging and non-core markets for consideration. The team's discovery approach included extensive interviews with production houses, other media players, investment banks, and on-the-ground executives in each market. In addition, the team worked closely with the client to perform an analysis of the company's performance in each of its current markets.
The team then produced an overall framework and strategy for market entry opportunities by country, including possible acquisition targets and the key enablers of success in each market. The work included detailed and specific recommendations on whether to expand in, enter, or not enter each of the client's target markets. For each case, the team created a high-level organizational model and necessary organizational improvements, as well as timelines, milestones, and responsibilities for pursuing the opportunity.
The team's work identified a total growth opportunity of $65 million. The client has incorporated these recommendations into its business plan and has begun implementation, which we are supporting in a follow-on project.