TMT
ACCORDING TO DELOITTE ’ S 2023 MEDIA & ENTERTAINMENT OUTLOOK REPORT :
While streaming video on demand ( SVOD ) services spend billions on content to tempt fickle subscribers , social media services have more free video content than they can manage .
Top social media services are leaning into user-generated video content ( UGC ), emphasising users ’ interests more than their connections — and looking more like a new kind of personalised TV .
While the creator economy has supported social media and brought independent creators closer to their audiences , creator incomes are still lean and unreliable .
Leading UGC services seem unsure of how best to support their content creators and brand ambassadors while keeping their own costs down .
At the same time , more socialising may be shifting into messaging services that lean into utility more than entertainment .
is expected to reach -4 % by 2027 . Print advertising revenues are also expected to decline sharply by 11.3 % by 2027 . This further exacerbates the financial pressure on traditional media outlets .
Karim Sarkis , Partner at Strategy &, part of the PwC network and the leader of the media and entertainment sector in the Middle East says : “ The rapid changes in the news media industry in the MENA region have created real avenues for growth . To successfully capitalise on these opportunities , news organisations will need to digitally transform , adopt sustainable business models , and pursue operational agility , innovation , and productivity .”
94 May 2024