What Matters Survey by Branded : Prioritise purpose and work-life balance

Key highlights

• Compared with larger global brands, smaller businesses (<US$1m revenue) feel most confident in outperforming the market
• Work-life balance proves the biggest priority for senior leadership, more than career progression or salary
• Despite being known as a high-stress environment, two-thirds of senior entertainment industry executives report good levels of mental well-being and seek to do more purpose-driven work with positive social impact.

 

Leading live events and entertainment company Branded has today published a study measuring the sentiment of entertainment industry executives around the world, revealing that despite economic and industry uncertainty, they are feeling confident for a rebound.

 

The survey captured the views of more than 60 movers, shakers, and C-suite decision makers who have significant influence in the entertainment industry.

 

Nearly three quarters of respondents (70%) feel that the perennial effects of Covid-19 will only last between one and two years, with just 17% feeling it will last between 2-5 years. Furthermore, though 23% of respondents described their business as in a current state of decline,  58% feel confident in the performance of the sector over the next six months.

 

Chart 1: Senior executives’ level of confidence in their business performance

over the next six months

 

The survey also revealed that smaller businesses (US$1m annual turnover or less) feel significantly more bullish on their future market performance, than larger businesses of US$6m or greater.

 

The entertainment industry is no stranger to mental stress, with the survey reporting that despite an optimistic outlook of the future, many respondents reported a recent deterioration in mental health with more than a third stating an overall decline in the last six months. However, two-thirds of respondents report good levels of mental well-being currently.

 

In recent months senior executives are more mindful about well-being and purpose-aligned business practices. This corresponds with another finding from the survey, demonstrating that work-life balance ranks top place in senior executives’ priorities more than career development or salary.

 

When asked what else mattered in terms of their career, senior executives felt strongly about creating a meaningful impact on society, creative stimulation, and health and wellbeing of their network.

 

The survey comes as Branded prepares to host this year’s All That Matters Online 2020 on September 14-18th, with delegates across the entertainment industry gathering online to build connections and hear from a diverse range of creative and business minds.

 

Headliners include:

• Award-winning playwright and director David Mamet
• Cookie Monster and Elmo, who will anchor All That Matters’ first-ever Family Matters track
• Lyor Cohen, hip hop management legend and YouTube’s Global Head of Music
• Jane Fernandez, head of the FIFA Women’s World Cup 2023 Office (Australia)
• Dua Lipa manager Wendy Ong of TaP Management
• Leading fashion director Nicola Formichetti
• Global music icons including Edison Chen and Linkin Park’s Mike Shinoda
• Plus executives from Facebook, Disney, Bloomberg, HSBC, Coca-Cola, Globe Telecom, PCCW, Global Esports Federation, Evil Geniuses, Singtel, Riot Games, Universal Music, McLaren Racing, Standard Chartered Bank, Dentsu Sports, AIA, 88Rising, Spotify and many more

 

“In a period that has totally uprooted the entertainment industry, it is now a challenge to judge what will be a temporary knock, and what will have a seismic impact for years to come. The What Matters Survey does however reveal a forward-looking optimism from business leaders and a renewed commitment to purpose-led business.” said Jasper Donat, CEO at Branded.

 

“More than just a frivolous word, businesses across the entertainment industry, ours included, strive to have purpose at the heart of what they do, whether making a difference to a select group of people or catalysing macro industry growth. With this reinvigorated sense of positivity and purpose, we look forward to welcoming delegates from around the world to All That Matters 2020, to celebrate and uncover the future of media and entertainment,” he continued.

 

Methodology

This survey was conducted among 60 respondents, all holding C-suite and senior executive roles within Entertainment, Technology, Music, Sports, Digital Media and FMCG companies.

The interviews were conducted online by Branded in July and August 2020.