It is safe to say that there is a turning away from media operating within their own proprietary walls, and a migration to evolving media types because of their instant accessibility on smart devices. Publishing in its traditional form is on the decline, but eBooks on Kindles, Nooks and iPads are on the rise.
Daily newspapers in the United Kingdom (UK), that have traditionally ruled the media landscape, have suffered significantly in recent years, with some losing more numbers than others. The Daily Mirror, for instance, sells 41% fewer newspapers than it did in 2000. The larger dailies are now creating online versions using either subscription or advertising as their revenue stream. However, some of the smaller local papers are on the verge of closure. This changes the social landscape on that level.
Online advertising is predicted to generate the lion’s share of revenue in 2013, along with an upswing in online video viewing, advocating the need for broadcasters to adapt. Society is moving toward the fastest and easiest ways to consume content mainly because the media channels, such as smart devices and the Internet, are making that possible. A smartphone can let you surf the Internet, indulge in text and voice chat with friends, shop online and watch television content, all in one place.
The evolving media landscape will see consumer expectations placing even more pressure on the advertisers, broadcasters, motion picture producers, cable companies, satellite companies, telecom service providers and Internet service providers.
The speed at which they will have to operate is a consideration that needs to be addressed now to meet the rising demand that is increasingly becoming imminent. Media companies must be prepared for change in a multitude of ways.