Across the entire media and entertainment industry, new digital technologies and consumer demands for continuous access to high quality content is challenging traditional ways of doing business. This does not mean that traditional content and media are dead. Far from it. But there's no denying the pace of change.
In a recent survey conducted for the Australasian Media & Broadcasting Congress, there was a strong consensus amongst attendees that the main sources of revenue growth in the future are multi-platform distribution, short form video, social media / user-generated content, and advertising. It was also believed that most major media companies will pursue a "multi-screen" distribution strategy in the next 5 years, which includes television, online and mobile delivery.
Media executives know which capabilities they need to take advantage of in this new market, but many have a false sense of their current capabilities. Companies need to implement new digital technologies or be left behind.
