Lewes, DE -- (SBWIRE) -- 05/05/2014 -- The growth of digital platforms and services has resulted in the global media industry changing irrevocably. What the shareholders in the traditional media sectors often fail to understand is that the game is no longer directed at building up big revenues upon which to build future business models. Instead the focus is now on building large customer penetration numbers on which to start building the new business models. Senior management often understand this but are reluctant to start the transformation process - or they are not supported in the process by their shareholders, who want to protect the traditional revenues for as long as possible - of course, only to fail in the end.
In this rapidly changing economic environment we see that those who are struggling are creating an increasing gap between themselves and the market leaders. Already in books, newspapers and retail we see that the national walls that protect local organisations within traditional models are crumbling. In other words, it is no longer an issue of local market share. It is now about international market share, and the abovementioned gap needs to be measured, or at least to be seen in an international context.
Adding to the globalisation of the media industry are the continual improvements to telecommunications infrastructure such as fibre and 4G network rollouts. In particular the industry is being driven by mobile broadband apps and services. Entertainment apps and services are of particular importance and a large contributor to the consumer uptake of digital media. Incorporating social networks, online video, digital music, gaming apps and online dating - this sector is dynamic and highly competitive.
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Online video streaming and is one of the fastest growing digital formats and a number of key players are coming to the fore - Netflix, which initially operating in the iVoD sector entered the streaming video market and is gaining prominence and expanding internationally.
Improvements in mobile technology and the introduction of smart phones have also assisted the development of mobile TV/video and we can now see it has a bright future ahead.
The music industry was the first sector to be hit by the digital revolution. It was taken completely by surprise - at that time we had little knowledge of the effects of the digitalisation process. The promise of commercialised digital downloads, with Apple's ubiquitous iTunes at the forefront, has largely failed to offset the record companies' shrinking sales. Nevertheless the industry has not been standing still and it has taken on a range of new initiatives.
As in many areas of the digital economy, surviving will be a lot harder for smaller, local players. As they fight to carve a niche their ability to forge partnerships with other industries to maximise skills, marketing and distribution capabilities will prove vital. To this end, successful players both at home and abroad are teaming up with telcos and internet service providers to offer bundling deals to customers.
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