Web 2.0 space

• However, despite the perceived
threat, 68% of respondents believe
that they will be able to harness
user-generated content to create
revenue within one to three years.
• Nearly 80% of those surveyed
believed that there was no bubble in
the Web 2.0 space, with 70% of
respondents also observing that social
media was a natural, “evolutionary”
progression for media (versus 25%
calling social media “revolutionary”
and 5% calling it “a fad”.) As a
reflection of this upbeat perception,
over 90% of the executives said that
their companies would become
involved in social media over the
next 12 months.
•Half of executives indicated that
advertising could grow to become
the most prevalent business model in
the industry within five years, with
digital advertising driving growth.
• Content remains king (according to
37% of respondents), although the
crown is under attack by technology
companies (26%) and telecommunications
players (9%).
• Critically important is the need for
digital readiness and a future technology
road map. Only by transforming
their organization and capabilities
can media and entertainment expect
to maximize the opportunity that
digital offers. This includes increasing
reach (through multi-platform
distribution), engagement (through
social media and interactivity) and
monetization (through digital
advertising). See “Implications” section
for more detail.