Where will you be spending your marketing dollars in the next five years? The latest annual Entertainment & Media Outlook report from PwC gives us some real clues.
Here’s the BIG takeaway:
It’s increasingly clear that consumers see no significant divide between digital and traditional media: what they want is more flexibility, freedom and convenience in when and how they consume any kind of content. Instead of a divided landscape, what we have is a fluid and multifaceted ecosystem – one where new digital offerings have created a bigger, more diverse content universe, and where digital has accelerated delivery across platforms.” (PwC)
And, here are some of the expected trends: Continue reading
Remember radio? It’s that dial-type listening device on your car’s dashboard. Have you turned it on recently?
Well, it turns out that more than 90% of Americans listen to the radio each week - tuning into AM/FM stations for over two hours per day. That makes radio the second-most consumed form of media after TV. And, it isn’t even a digital marketing channel!
According to Nielsen’s Q3 Cross-Platform report, the average American consumes almost 60 hours of content each week across TV, radio, online and mobile. Traditional television takes top spot, followed by radio, collectively totaling 49 of the 60 hours. The balance is comprised of digital channels. Does this shock you?
So, where does this leave your business’ or nonprofit’s marketing strategy? Continue reading
Not sure which channels are going to be viable for your marketing budget over the next few years? According to PwC’s 14th annual update of the online Global entertainment and media outlook, some channels are up, and well, some are down.
Here’s a brief summary of the findings:
Consumer magazine advertising
Consumer magazine advertising spend will equal roughly $15.2 billion by 2017, down from $16.4 billion last year. On the flip side, digital magazine ad spending is expected to grow at an annual rate of 9.6% to reach almost $3.8 billion by 2017.
Advertising revenue has dropped sharply in the past 5 years, though is expected to decline more slowly over the coming 5 years. By 2017, newspaper ad revenues will total $18.4 billion.
“The researchers caution that the sector is not in ‘terminal decline,’ at least in the near or medium term. In fact it has shown some resilience, and print circulation has stabilized even as newspaper websites attract an increasing number of readers.” (MarketingCharts.com)
Out-of-home advertising (OOH)
The US out-of-home advertising market was valued at roughly $7.5 billion last year, and is projected to grow to a value of almost $9.6 billion by 2017.
“The traditional roadside billboard remains the key component of the US OOH market, accounting for 65% of total annual revenues. Transit (17%), street furniture (6%) and alternative channels (12%) make up the remainder of the revenues.”
Last year, radio revenues in the US were estimated to be more than $19 billion, and that figure is expected to increase to $21.55 billion by 2017. Much of this is attributed to satellite subscriptions, which are projected to be the key driver of radio revenue growth.
TV advertising spending is projected to grow from $63.8 billion last year to $66.8 billion this year and $81.6 billion in 2017. There are increasingly new ways to reach consumers such as the potential for personalized advertising opened up by advanced TV services delivered to personal computers and mobile devices as well as TV sets.
There’s a lot of meat to this report, so if you want more detail, visit the PwC site. Here’s a 3-minute video synopsis by Marcel Fenez, PwC’s Global leader, Entertainment and media.