We are all addicted. We are addicted to news, addicted to constant streaming of information, addicted to social media.
Anybody with any mobile device will be aware of the changing trends in digital media and the access to information of whatever sort, wherever we want it and however it is presented.
In the recently published PWC report, ‘Global Entertainment and media Outlook 2013-2017’, we read about cord cutting trends, big data, analytics,, we read about content being king, piracy and so on. It also deals with eBook predictions.
Some interesting numbers emerge from the report as follows:
- Globally, digital media will account for 37% of advertising revenues by 2017, up from 26% in 2012.
- Internet advertising will be the fastest-growing segment, at a 13.1% compound annual growth rate (CAGR).
- Video gaming at a 6.5% CAGR and TV advertising at a 5.3% CAGR will also show strong growth.
- Segments traditionally related to print—newspapers, magazines and books— will grow by an average of less than one percentage point
- By 2017, physical purchases will represent just 53% of consumer spending.
Mobile devices without cords are the new media conduits. And in cutting the cord, consumers expect to access and receive information when and where they want it, making traditional forms of content like cable TV subscriptions less tenable. The report refers to ‘cordnevers’, whom we all know. They are young people who do not and will never think of paying for a TV. All their access in on mobile devices.
Mining of data and analytics will give great insight into consumers’ likes, dislikes, attitudes and behaviours and present opportunities for advertisers.
Regarding eBooks, lots of different outlets are trying to project the size of the US eBook market and how fast it’s growing. The report, estimates that trade (consumer, not educational or academic) eBooks will drive $8.2 billion in sales by 2017 — surpassing projected print book sales, which it thinks will shrink by more than half during that period. (Source PWC report Global Entertainment and media Outlook 2013-2017).
Finally, the report predicts that in the entertainment and media market, digital will be the main driver of growth in the next five years, and that consumers spend shifts from content to access, and from physical to digital.
Let me be a ‘cordnever’ as quickly as possible.
HC Financial Advisers, trusted advice since 1988