Media Execs Warm to Digital Content

• Posted: Friday, May 16, 2008
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• Author: pradhana
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• Filed under: Digital Content, Market Survey

Coming to terms with the times.

Executives at major media companies are in tune with the idea of a digital future. Now it is just a question of making it happen.

Seven out of 10 media executives interviewed for Accenture's "2008 Global Media Content Survey" said they were now earning some revenues from such new media as digital advertising, user-generated content and downloading or watching on-demand TV programs.

The overwhelming majority (82%) of respondents said that content was increasingly developed for multi-platform distribution.

Respondents were generally positive about their ongoing switch to digital, with more than one-half saying they knew what was required to take advantage of the changes in digital media production and distribution. At the same time, however, 59% said they were less than halfway toward the goal of handling their media products digitally from start to finish.

"It is great news that media organizations are developing a consistent strategic view of the key growth areas, but execution is slow," said Gavin Mann of Accenture, in a statement.
More than one-half of respondents said digital ad spending would surpass traditional ad spending within five years.

Respondents were taking the rise of social and user-generated media in stride. A full 71% said that associating their brands with social media did not carry significant risk.

Read more - eMarketer

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