PWC Entertainment & Media Outlook: The 100-Word Version
It was a popular game at Valleywag, a prior writing home of mine, to strip down interminably long essays from folks like Cringely or Arrington to shorter, easily digestible versions of stories. We called it the “100-Word Version.” As Valleywag is now a mere shell of its former self, and Paul Boutin — the creator of the 100-word version — is over at VentureBeat, I see fit to resurrect the practice. My first target? A lengthy summary of the latest PricewaterhouseCoopers analysis of the Entertainment & Media market. So without further ado, here are their words, culled together, to form my synopsis:
Digital technologies will become increasingly widespread across all segments of entertainment & media (E&M) as the digital migration continues to expand. The accelerated migration to digital technologies has reinforced and proliferated new consumption habits and “digital behaviours” as consumers seek more control over where, when and how they consume content. Internet and mobile advertising in the overall global advertising mix will rise from around 12 per cent in 2008 to 19 per cent in 2013. The current decline in revenues is not because of declining demand. In fact, demand for E&M appears to be increasing. The challenge is to identify ad models that are able to withstand the downward pressure on ad rates in the digital environment and on subscription models that capture the consumers’ preferences for premium content.
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That actually used to be businesses that did this for companies. It was called news clipping.
I know the PwC Outlook very well – authors – and many years of reading the same. The very best in M&E Outlook by any measure – no one even comes close to putting together such a good piece every year.
Having said that – Jordan – you are doing your readers a dis-service by trying to put such good readings into your 100 word version. For one – it goes to show you don’t understand M&E, and you have never read a full PwC report to begin with – probably just a free abstract (the full report too expensive for you?).
OM – Please, stop this nonsense – and stop these sophmoric attempts – it just does not belong in the GigaOM genre.
Against a backdrop of tough economic conditions, we believe there will be nowhere to hide from the implications of digital migration. As economic pressure increases, so does the pace of change: aside from short-term challenges posed by the economic downturn, the real challenge lies in how to take advantage of the digital reality.