Although senior media executives say launching new media products and services will be big growth drivers this year, they also believe in four years' time, their best-selling products
would not have been invented yet.
Media investment banker The Jordan Edmiston Group and independent community-based publisher Econsultancy’s 2014 Media Growth Study surveyed 339
mostly “C” suite executives -- chief executives, chairman, or presidents of media, information, marketing and technology companies.
Responding to the statement that “our
top selling product in 2017 hasn’t been invented yet” -- 51% of respondents agreed, 42% disagreed, and 7% had no opinion.
The study also says 71% estimate for 2014 launching new
products and services will be top growth drivers in the next one to two years -- up from 61% a year ago.
Another major conclusion: 49% say digital product lines are being hampered by the
lack of specialists -- that this is an internal barrier to growth in this area.
At the same time, executives are quick to point out that new IP/software investments for their media
companies have risen to 27%, up from 11%. This is partly driven by a push for programmatic buying and selling.
With regard to acquisitions, only 42% of smaller media companies -- those with
revenues of $10 million to $50 million -- anticipate targeting media mergers/acquisitions for growth in 2014. This number was 57% for 2013.
Looking at big media/marketing companies, 83%
believe mergers will occur for their growth in 2014 -- this versus 78% in 2013."Mad Scientist" photo