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Friday, July 11, 2008

Global Media Market: $5.7 Trillion by 2024

I absolutely abhor predictive analysis for two reasons: I've rarely seen studies that followed up on the predictions to judge how viable certain companies are and I've rarely found myself believing what I'm reading.

Despite my inherent bias, it's hard not to get a bit giddy reading a report that found the global entertainment and media market -- driven by digital technologies -- would hit $5.7 trillion dollars.

That's a lot of videos games, movies, television and music (that's my prediction for the order of markets).

Of course, the Future of Media report (PDF) is also chock full of other interesting factoids that have nothing to do with wild predictions (exactly):

  • Percentage wise, Russia is the fastest growing digital consumption region, followed by Brazil, the Philippines and then India; and
  • The average consumption time for all media will be more than the average waking hours time frame as we consume more media from more places at the same time, reducing the effect of advertising;
  • Bandwidth will grow as people demand more personalized media that will in turn spawn whole new business models built for individuals -- and not populations.

By Brad at 06:08 PM | Comments (0)

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