Earlier in the week Accenture released the results of its annual survey of executives in the media and entertainment industries. The survey questioned 110 Senior Executives at advertising, film, music, publishing, radio, Internet, gaming and Television companies. 60 percent of the executives were from North America and 40 percent from Europe.
Among the findings published:
- 32% thought content would drive their revenues, up from 21% in the prior year.
- 53% cited short-form video as having the highest growth potential for their industry over the next 5 years. (13% picked video games, 11% feature-length/long-form film, 11% music, 9% consumer publishing and 4% chose business publishing.)
- 68% of respondents thought they would make money from user-generated content within the next 3 years.
- 62% believe their companies will make money from advertising or sponsorships of Social Media. (21% expect profits from subscriptions, 18% from pay to play models)
- 57% of respondents identified the growth of user-generated content — including amateur digital videos, podcasts, mobile phone photography, wikis and social-media blogs — as one of the three biggest challenges they face today.
In addition to statistics. The survey also has a number of quotations and talking points from industry leaders. Stating what is something of the obvious, CBS CEO Les Moonves said "Technology will continue to alter the distribution landscape, allowing people to access content on their own schedule, wherever they are…but without compelling content, every new platform is an emty shell. Companies that can combine world-class content with powerful national and local distribution will have the competitive advantage."