PricewaterhouseCoopers are predicting that due to ad spend shifting away from traditional media, digital and mobile will take an incredible 78% of global entertainment and media ad spend by 2013.
PwC partner David Lancefield, outlined that the media landscape is changing at a previously unseen rate of knots.
Mobile is again grabbing market share as more established digital media is in decline – UK 2009/10 online ad spend is projected to dip 3.2%
PwC also highlights just how many small media businesses have fallen prey to the recession: the downturn has claimed some high-profile victims as we know but PwC reports that a frightening 910 smaller advertising and media businesses have gone bust in the past two years, 525 in the last 12 months-
- Advertising: 211 in 12 months to June 31 (50 percent up annually). 352 in the last 24 months.
- Broadcast: 81 in last 12 months (40 percent rise).
- Publishing: 260 in last two years.
- Music: 18 in last two years
The future may be uncertain, but it definitely is mobile