Future - PwC Report Shows Consumers Reign Supreme

The PwC report on Global Entertainment and Media Outlook 2012-2016 provides an interesting perspective for those in the world of brand.  Here are three highlights and a quote:

• By 2014 Internet ads will beat out TV ads and by 2016 spending on Internet ads will be 23% larger than on TV ads
• In 2012 video games will overtake spending on consumer and educational books, and by 2016 spending on games will be 20% larger than spending on books
• Over the five year period ended 2016 it is expected that total US and Canadian spending on advertising overall will grow from US$184 billion to US$245 billion but it will be directed more and more at internet advertising

Michael Paterson, Partner, Price Waterhouse Cooper's Canadian Entertainment & Media practice has a challenge for those of us in brand management:

"The challenge for entertainment & media companies rests not only in monetizing great content, but the growing fact that consumers are now "king" and their desire for customised experiences and getting content on their terms will require transformation on the part of companies to keep up,” says Paterson. “Location-based-marketing, mobile technology and social media are and will continue to be the driving forces behind revenue growth"

View the PwC Release and InfoGraphic