Sector Snapshot: Digital Media Industry

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(Image: Stock.xchng)
(Image: Stock.xchng)

BUSINESS

  • World internet user numbers have risen by almost 20% since start of decade
  • Global entertainment and publishing industry expected to be worth over $2 trillion in next few years
  • Digital media market to be worth $24 billion by 2015

The number of people accessing the internet throughout the world has risen by almost 20% since the beginning of the decade. In 2010, nearly 25% of the world’s population surfed the World Wide Web. As the online community becomes ever more mobile, that figure is expected to soar over the coming years.

Social media websites give a good indication of how the world is changing on a social and economic level. Sites like Facebook, Twitter, YouTube, LinkedIn, Wikipedia and MySpace have been at the forefront of innovation in the digital media landscape.

Also among the most popular are websites that offer services such as video, music, online dating and gaming. Experts predict that within the next few years, the global entertainment and publishing industry will be worth over $2 trillion.

Key Statistics - Global Digital Media Market

  • Since the beginning of the decade, the number of people who use the Internet around the world has increased fivefold to around 25%.
  • The value of the global entertainment and publishing industry is expected to top $2 trillion in the coming years, according to analysts at Paul Budde Communications.

Local Digital Media Markets

  • In 2010, local digital media accounted for almost 15% of local ad spending, totaling $13.5 billion, according to Borrell Associates. That figure is expected to grow 17.8% to $15.9 billion in 2011.
  • By 2015, the digital media market is expected to be worth $24 billion, which will see it overtake print media as the leader in local advertising.

Key Players – Global Digital Media Market

  • Hearst Magazines, Sony Pictures, The Huffington Post, William Morris Endeavor, Yahoo, Mediabrands, Aegis Media, Digitas, Edelman Sports and Entertainment Marketing

Recent Business News

  • The Times and The Sunday Times sign up 29,000 new digital subscribers, as newspaper circulation drops 12.1% to 425,627.
  • AOL’s acquisition of The Huffington Post and GoViral helps boost its display ad figures, as quarterly profits fall.

Upcoming Events

  • iStrategy's European Conference, May 11-12, 2011, Amsterdam, Netherland
  • iStrategy's Australian Conference, May 17-18, 2011, Melbourne, Australia
  • Digital Media Conference, June 17, 2011, Arlington, Virginia, US

By Jon McAllister for
Based in the UK, Jon McAllister reports on current events, technology and business news for leading online publications.

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