Digital to be majority of media and entertainment revenue by 2015
For media and entertainment companies, digital is fast becoming the main way of making money.
Executives say digital revenue for media and entertainment companies will overtake “traditional” revenue sources by 2015, according to a study by Ernst & Young.
Those surveyed said revenue from digital delivery of content and services will increase to 57% of revenue, up from 47% currently.
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The consulting firm surveyed 550 senior executives in industries including advertising, broadcast and cable, filmed entertainment, interactive gaming, publishing and information services, music and social media.
The firm also said companies that embrace mobile, social and cloud computing technologies, along with big data analytics internally, will have an advantage as consumer preferences change.
In other words, early adoption of new technology for employees will help companies adjust better to the fast-changing media and entertainment industry.
“These technologies can help M&E digital leaders who broke ahead of the pack in the early stages of digital to extend their advantages, as well as offer opportunities for those who fell behind to adapt quickly and catch up,” Pat Hyek, Ernst & Young’s global technology industry leader, said in a statement.
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