The world is going digital and as it does it is dragging the media and entertainment sectors with it, whether they are prepared for it or not. Price Waterhouse Coopers’ SA Entertainment and Media Outlook 2011-2015 paints a picture of this changing landscape. The report focused on 13 specific sectors, examining how well they did in the five years between 2006 and 2010 and how they are predicted to do going forward to 2015.
The empowered consumer
Media and entertainment companies have a new type of consumer. “All interactions are being affected by rising consumer expectations,” according to the report.
“Consumers are empowered, connected, able to influence large communities of people and ready to play an increasingly collaborative role in developing new E&M products and services.”
The report said consumers love playing an active role in shaping content and this is already evident in the rise of social media. “Social media, mobility and the explosion of application software have already had profound impacts and these will continue to grow,” said the report.
It argued that more focus needs to be spent on the repackaging or multi-purposing of content for multiple technology platforms; for example, a newspaper that has an iPad edition or the ability to watch television shows on demand on an iPad.
The introduction of tablet computers and electronic reading devices has begun to change the media and entertainment sectors and consumers appear to be prepared to pay for content when it is delivered in an application format to a device, but not when it’s already provided for free on a website on the Internet.
“Meanwhile, in terms of privilege, many consumers would like unlimited access to content for free but are happy to pay for services that provide additional value and the ability to ‘jump the queue’, such as special offers, advance information on discounts and earlier access to content,” the report said.
Lloyd Gedye, Mail & Guardian