Fifty-seven percent of media executives identified user-generated content as the top challenger to their business models, according to an annual survey from management consulting firm Accenture. Only 3 percent saw “social media” created by citizens as “a fad.” And the survey participants aren’t exactly community advocates for efforts to democratize media — respondents included EMI CEO Roger Faxon and CBS CEO Les Moonves.
But you can be forgiven if you mistake Universal Studios Digital Marketing VP Doug Neil for a Jeff Jarvis junkie in this quote from the release:
“Digital distribution of content will be increasingly important in three to five years with the convergence of computers, TV and home entertainment options. To succeed in this environment, you need to innovate and anticipate the needs of the consumer, be willing to take risks and try new things.”
Interestingly enough, the format 53 percent of executives picked as having the best growth outlook was short-form video content, followed by video games in a distant second at 13 percent. According to Accenture, the survey included 110 respondents from both Europe and North America.
Moonves even offered an appraisal of online video technology that I agree with, arguing that “without compelling content, every new platform is an empty shell.” It seems more people are coming around to that point of view, with a reported 50 percent increase of respondents citing content as driving their revenue vehicle.