According to findings of the Accenture 2008 Global Media Content Survey among more than 100 senior leaders and decision-makers in the media and entertainment industry, 70% of respondents indicated they derive some revenue today from new alternate forms of media such as downloading or watching TV programs "on demand," digital advertising, or user-generated content.
Based on the participating companies, the small percentage of revenue (less than 10 percent) actually represents tremendous growth, and substantial revenue streams are being derived today from these new forms of media. In fact, according to Accenture:
The survey revealed that there appears to be strong consensus as to what will drive future growth. Four sources of revenue growth, are predicted to be the dominant business model five years from now:
Gavin Mann, digital media lead for Accenture's Media & Entertainment practice, says "It is great news that media organizations are developing a consistent strategic view of the key growth areas... (but) there clearly remains a huge effort to put in place the necessary capabilities... it is apparent that the size of the task is still not fully understood."
The study concludes that there are several barriers to the mobile market. 51 percent of the executives surveyed feel that consumer readiness continues to be a barrier to the mass uptake of the mobile market. 42 percent of respondents think companies' inability to provide a consistent user experience is a significant barrier, while 37% say that a lack of readiness among both content owners and mobile operators/networks presents a barrier to success.
More information on Accenture's Global Media Content Survey and the Study in PDF format can be found here.