Media Companies’ CEOs See Big Impact in Industry from Mobile-Based Technology
Mobile technology seems to be the next big thing, not only in articles from companies that offer such devices, but also in studies of different industries. Media CEOs see an important impact on this industry in the future from mobile-based technology, as a new study shows.
The survey made by Ernst & Young in September among CEOs from media and entertainment companies on digital growth revealed that many of them use social media now, but think the great effect on the industry will be that of future mobile-based technologies.
The main role of social media, as perceived by these CEOs, is to connect with customers – 84% of them mentioned that. 69% of the respondents see social media as a tool to build audiences, while 63% of them consider it’s good for brand building. Additionally, 50% of them mentioned that they see social media as a distribution platform or channel, as a source of revenue.
In regards to “predictions” for the future, the technologies that will have the greatest impact on the media and entertainment industry in the next three years, as mentioned by the same executives who were able to select up to three options, are technology related. 79% of them mentioned tablets, 62% smartphones, and 59% cloud hosting, including digital lockers. Other mentions were apps – 56%, high-bandwidth mobile networks – 53%, and social media – 44%.
Mobile devices, including smartphones, tablets and other such gadgets are unanimously considered the biggest drivers of growth in content consumption, element followed by improving broadband and mobile network infrastructure (53%), social and other networks (41%), more netizens in emergent markets (29%) and an increase in web video and video-over-internet (24%).
A higher quality of Internet bandwidth can indeed make the difference, and I say as a result of my own experience of living in a country that has one of the top three (Romania ranked second) such Internet infrastructures. We can all acknowledge how strange it is to travel somewhere and not have the same Internet connection speed or quality, or having a spouse on the road and not being to easily connect through a video call over the Internet (as I have seen happen in some countries).
Technology is also one of the fastest evolving field with great impact on all others. Just think that video content was considered a major breakthrough and a hot trend a couple of years ago (and still continues to be important in driving traffic and more). Mobile technologies seem to be the next big thing. This forecast could turn out to be quite accurate as many big players are constantly working on developing and launching more and more interesting devices – smartphones, tablets and all other gadgets, plus the apps that make them work better.