Why go out when staying in will be more fun
WE might not be able to afford tickets to see our favourite artists and sporting stars but technology will satisfy our hunger for visual entertainment.
According to predictions for the media sector from business advisory firm Deloitte live entertainment could struggle in 2009 following many years of sustained revenue growth.
After years of lavish spending on concert tickets and sporting events the public may no longer be able to afford to see the biggest stars in the best locations.
However, Rob Seldon, head of the technology, media and telecommunications practice in the firm’s Leeds office, believes that could be good news for lesser known acts.
“The public will still want to be entertained, albeit unable or unwilling to pay premium prices,” he siad.
Mr Seldon said that manager and record companies should also be willing to defy expectations.
Meanwhile, good product allied to strong marketing could convince some consumers to drop everything apart from premier live entertainment.
“The media sector should still see plenty of innovation in 2009, with 3D being one technology that could take off in the year,” predicted Mr Seldon.
“An A-list array of producers and directors are releasing films in 3D this year while television broadcasters and manufacturers are developing products and services to take 3D into the living room.”
Deloitte’s analyses of top trends for the media industry in the year ahead shows there could be a silver lining to a recession if you are in television while this could also be the year for WiFi radio.
“Viewing hours tend to increase in tough times as consumers stay at home,” said Mr Seldon.
“Indeed, in the latter half of 2008, average viewing hours were already rising. Digital switchover may boost viewing even more. Professionally produced content is now reasserting itself over user-generated content, both online as well as broadcast.
Internet radio also look set to take off this year. With nearly 1.5 billion internet users worldwide, two-thirds with broadband access, online radio’s addressable market could grow by 20% in 2010.
The increasing affordability of internet radio sets and the growing use of smart phones with WiFi are seen as two major contributing factors.
Internet radios also have the potential to monitor what, when, and how often consumers listen in-promising a powerful platform for advertisers.
Deloitte’s report also predicts that mobile advertising’s day has come.
It says that mobile phones are currently at their most ubiquitous as there is a more mature understanding of what mobile can and cannot deliver in advertising.
