I have to share some irony as I have 3 hours to kill trapped in the Nice airport, my reading choice is Jonathan Franzen's Freedom. It is stunning fiction, but I am not feeling very 'free'.
I wanted to share highlights I got at one of MIPCOM's Big Players series. It offered insights and the out look for broadcasting and media for the coming 5 years. Marcel Fenez, Global Leader (great job title) for Entertainment & Media of Price Waterhouse Coopers first presented then had a conversations with Nonce Paoline - Chairman/CEO of TF1 (France's largest media company) and John Smith, Chief Executive of BBC Worldwide. The subject matter was most appliciple to Movies, TV, Video and Internet - but it is relevant to publishing and should be instructive for anyone looking forward.
The major focus for resources and growth will be mobile. That is because technology is catching up with expectations that have existed for years. There will be more choice, more products and more information coming to people via their mobile devices (will that kill the PC???). For consumers, content trumps channels. Consumers will break existing habits and convenience to get good content. Consumers will pay for: quality, convenience and enriched content (using the example of paying a hefty premium to experience music live vs. hearing it in any other format that you aleady have for free). The poor economy accelerated digital transition as people did more and got more on-line. That change will not erode and is permanent.
Mr. Fenez detailed his insights of digital evolution. It will transpire in 3 parts:
1. Digital Migration: Existing products and information move into digital formats to leverage techology and cost benefits.
2. Digital Acceleration: Current formats adapt to consumers wants and needs that are altered by new technology.
3. Digital Transformation: New products and services leverage the market that is created by existing products that were transformed - think of mobile apps.
It was interesting to note that most televion and media (outside of print) will see growth over the next 5 years. One example was that TV subscriptions revenues will increase by 6% in the US where Asia will see almost 12% growth 2010-2014.
One example that stuck with me was that the BBC chose to focus their efforts on the US market and have doubled their revenue in a few years to $440mm and that only represents one half of one percent of the market. That is random in the context of this post, but impressive in that the BBC was able to develop a strategy in an existing market that was growing more slowly than other global opportunities and competed with massive US providers and still doubled their revenues.
Event Director-BookExpo America
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