The global media, publishing and entertainment (MPE) sector is undergoing rapid disruption. Multiple innovative content creation and distribution platforms have upended conventional business models. Digitally empowered customers are seeking personalized content on demand-anytime, anywhere.

The opportunity for MPE companies to achieve sustained and profitable growth is for real, though. According to PricewaterhouseCoopers' 2014-2019 Entertainment & Media Outlook, the size of the U.S. MPE market-the largest globally-is expected to expand to $771bn by 2019, from $632bn in 2015. And, disruptive digital technologies such as mobility, Big Data, cloud computing, and social media could play a big role in enabling the industry to diversify revenue streams, boost margins, and enhance customer experience.

Challenges
Broadcasters today face fierce competition from several nimble over-the-top (OTT) operators, who have pioneered innovative content distribution models. The rapid 'appification' of media and entertainment in a direct-to-consumer world means broadcasters must reimagine the way they build and integrate core business processes.

As for the rapidly consolidating publishing segment, major headwinds include the shrinking footprint of physical bookstores, limited production scalability, and suboptimal supply chain flexibility. Meanwhile, the gaming segment is confronting reduced consumer spending on non-discretionary entertainment activities, with increasingly popular online games squeezing traditional revenue streams.

Here are five ways in which MPE companies can grow their customer base, increase profits, and strengthen competitive advantage: