As a pivotal year draws to a close, in a new feature we ask CEOs to predict the year ahead. MediaWorks' Brent Impey offers his view.
KEY POINTS:
We work in an industry known for being a little excitable.
And some would argue media organisations get particularly excitable speculating on their own future, or the future of the sector.
If we could predict everything our jobs would be nowhere near as interesting as they are today.
However, media projections are a tangible way to analyse media trends.
A recent (September 25) report by ABN Amro said that in 10 years online advertising will account for 14 per cent of advertising revenue (excluding from search engine marketing). From my calculations that still leaves 86 per cent coming from traditional media.
As the internet becomes more of an integral part of our lives traditional media have been very smart at tapping into new media opportunities. Broadcasters and newspapers have jumped on the online train very effectively in New Zealand.
At MediaWorks our recently established NetWorks online division is in a unique position to leverage out existing radio and TV brands online. We are already becoming a major force after just one year.
We also offer the precious commodity of content and that is king. New Media - certainly the real revenue opportunities are well and truly owned by traditional media in this country.
Perhaps new media is already traditional media. Let me make one prediction. In 10 years time I will still be listening to the radio in my car for entertainment and information. I will watch free-to-air television for relaxation and news.
I will go to the occasional movie. I will read a hardcopy of newspapers most weekends and I'll look at a variety of information services.
Sound familiar? Welcome to the future.
