Collingwood Advisory recently carried out a Growth Amid Uncertainty survey of independent media Founders and CEOs worldwide, to take the pulse of responses to Covid-19 and to benchmark attitudes to risk, product development and growth. The survey attracted a 69% response rate, showing how much energy media entrepreneurs are putting into benchmarking and finding new routes to growth. Thanks to all participants!
We expected a certain level of pivot and product development intention, but not the high percentages the survey revealed. There are also very useful benchmarks on funding routes and company priorities.
Key findings include:
- 75% of respondents have cut 2020 budgets
- However, 92% of respondents have managed to avoid founder/director investment, partly due to uptake of government grants and loans
- 42% are planning new product launches in 2020
- Maximising sales and increasing audience focus are highest on the list of priorities