Media & Telecommunications
Fundamental changes to the way people create, publish and consume information is affecting these industries more than ever.
The telecommunications and media industries face various compliance and risk issues, including data privacy and security, regulatory compliance, supply chain risks, and environmental and social responsibility. Ensuring the privacy and security of customer data is critical, as companies must comply with regulations like GDPR and CCPA. Additionally, they need to adhere to rules imposed by governing bodies such as the FCC and ETSI to maintain licenses and avoid fines.
These industries also face challenges related to their global supply chains, such as geopolitical tensions and natural disasters, making supply chain resilience and compliance essential. Lastly, they must address environmental concerns, like electronic waste and energy consumption, and promote social responsibility through initiatives like diversity and inclusion, ethical labor practices, and community engagement.
One of the top 5 risks to telco’s is unfavorable changes to regulation in the industry.
Cybersecurity breaches in telecommunication companies in 2021 were 29% higher than the previous year.