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Perth MusicUser-generated content is the biggest threat to traditional media says new study
A report from Accenture into the future of media was released a couple of days ago and is a real eye-opener into how traditional media is scrambling to hold on to its audiences.
Though they might say it in public, media companies are in fact worried about the growth of UGC that remains largely out of its control:
Media and entertainment executives see the growing ability and eagerness of individuals to create their own content as one of the biggest threats to their business, according to results of a survey released today by Accenture (NYSE: ACN).
In its annual survey of senior executives in the media and entertainment industry, Accenture examined the growth strategies of companies across the landscape of advertising, film, music, publishing, radio, the Internet, videogames and television.
More than half (57 percent) of the respondents identified the rapid growth of user-generated content — which includes amateur digital videos, podcasts, mobile phone photography, wikis and social-media blogs — as one of the top three challenges they face today. In addition, more than two-thirds (70 percent) of respondents said they believe that social media, one of the largest segments of user-generated content, will continue to grow, compared with only 3 percent of respondents who said they view social media as a fad.
