• by Wayne Friedman , January 16, 2014

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 from Shutterstock.

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