Over the years, Arvato Financial Solutions has been part of driving the transformation of outsourced services; from largely manual, back office operations to fully-integrated digital solutions.
Of course, it’s not only the finance industry that has been transformed. The way we are informed and entertained has also changed profoundly. In the Nordic region, the time people spend watching linear, broadcast TV has fallen consistently in the last few years and has been overtaken by streaming services. Of these services, YouTube is the most popular – today, 87% of Swedes aged between 9 and 19 watch YouTube on a daily basis.1
When it comes to listening to music in the Nordic region, an average of 48% of 16-65 year olds say that they use Spotify every day2. A fair chunk of that music is made available by BMG, Bertelsmann Music Group, also present in the Nordics. Gone are the days of going to a shop to buy music on a CD, and in Sweden at least, you would not be using cash if you did. Being the birth place of Skype and Spotify, the country has been quick to embrace digital payments, and cash is rapidly becoming an obsolete payment method.3
It’s against this background that RTL Group, (part of the Bertelsmann Group to which Arvato also belongs) recently made yet another strategic investment in the Nordic region in addition to previous acquisitions of SpotX, Smartclip and Vidispine . By acquiring Nordic-based digital network United Screens, RTL gained an established network of more than 500 YouTube channels and personalities, with some 500 million streams initiated per month.
And while Bertelsmann may not yet be a household name in the Nordics, hit series including X-Factor and Idol are. They are distributed by Freemantle Media – part of RTL group – that distribute 20,000 hours of content to more than 200 territories.
As we drive digital transformation, across the Bertelsmann Group and diverse industries, I believe that the lines between these industries are fading fast. When you are entertained, do business and learn within a digital context, it seems to me there will be many great opportunities to integrate experiences, increase customer convenience and innovate. And it will also have positive implications on career mobility – with digital experts able to move even more readily within our group to build their careers.