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This story about a comScore Media Metrix report was just released and it adds to the information in the previous post. Teens spend a great deal of time online. They are already an important market and they will become even more important in the next decade as their disposable income expands.
New technology is creating tumultuous change. It seems almost every week some emerging Web-based company is vying with big, established media companies for consumer (and advertiser) attention. Business Week Online recently underscored this change in an article titled, ”The Net’s New Age.” Traditional newspapers are beginning to feel the effects of consumer-generated media from over 30 million blogs and other sources. This is evidenced by some newspapers either folding, or contemplating a Web-only format. Other newspapers such as the Washington Post are fighting back with large staff cuts.
The movie theater industry is facing a big challenge from big-screen in-home TVs, DVDs, IPTV and social trends. It was explored previously here and here. A CNET story yesterday shed more light on the obstacles facing theaters. The CNET article draws a parallel between the movie industry and those issues that have fundamentally changed the music industry.
In a move one analyst compared to a “dolphin swallowing a small whale,” McClatchy Co. has agreed to purchase Knight-Ridder, publisher of 32 newspapers across the country. The acquisition creates the nation’s second-largest newspaper chain.
The analyst comment references the size of the two companies: In 2005, McClatchy had less than half the revenue of Knight-Ridder – and Knight-Ridder owns almost three times as many dailies. It’s a bold, gutsy move by McClatchy.
A couple of recent reports raise the ante on the importance of podcasts. A BIGreseach report (story here) shows some surprising demographic information. Many media pundits have minimized the importance of podcasts asserting the people subscribing to them were either first adopters or young geeks. However, according to the research, the core podcast market is already far more mainstream:
- Average income of $67,854
- Married
- Predominantly 18-44 age group
- Male (64%)
- Occupation is professional/managerial
The size of the market is also accelerating fast. A new eMarketer report highlighted here, shows podcasts will reach 50 million people by 2010. Podcast advertising will also rise from $80 million in 2006 to $300 million by 2010.