What’s hot (and what’s not) in media – study
Veronis Suhler Stevenson is offering a look into its crystal ball.
The private equity firm, a leading one in the media and communications business, came out today with its 2003-2013 forecast, which essentially says the global recession will speed up needed changes in the media world. In other words, things like branded entertainment and mobile advertising are going to get even hotter, even faster.
And things like newspapers, radio, and yellow pages? Well, don’t ask.
Jim Rutherfurd, Executive Vice President and Managing Director at VSS, summed it up like this in a prepared statement: “The prolonged economic downturn has accelerated changes already underway in the communications industry. Notwithstanding significant declines in traditional media, the industry taken as a whole will continue to show relatively solid performance compared to the overall economy.”
Here’s a quick hit of some key takeaways from the VSS study:
- Total communications spending will decline 1 percent in 2009 to $882.6 billion.
- However, total communications spending will grow 3.6 percent per year over the next five years to $1 trillion.
Word of mouth marketing is indeed looking good.According to PQ media Word of mouth marketing report, brands all across have increased spending on WOMM which reached $1.54 billion in 2008. As an online marketer it’s quite encoraging to know that overall communication industry has shown a solid performance, despite the economic slowdown.
Cheers!