The media market consists of sales of television and radio programs, motion pictures, digital content, and commercials along with video and audio recordings, games and publications by organisations producing and distributing television and radio programs, motion pictures, and commercials along with video and audio recordings, games and publications.
According to the report “Media global market report 2019” Some of the key companies operating in the market are Google, Walt Disney, Time Warner Inc., Facebook, Comcast Corporation.
This rapid digital shift largely is being driven by the growing amount of the associated consumers, further the expansion of mobile services, and much increased mobile broadband services adoption have led to development of the global content inter mediation and integration over social-networking platforms. These platforms have led to development of personal and professional, providing videos, music, and news from outside. The new user engagement techniques coupled with rise in digital advertising and broadband are further fuelling the growth of market. This pattern reflects the underlying transition of the market from traditional to digital media content driven. Traditional methods are continuing to transform their business models, implementing strategies leading to minimizing the churn.
Rise in liking towards the integrating videos and animations, along with unified communications & collaborations collections in enterprise content delivery medium further poising the market growth. Development of high-speed communication infrastructure has further led to creation of the advanced video platforms to implement of unified communication systems. The companies are now using the enterprise based streaming solutions enabling them to create a cost-effective and flexible working environment, thus reducing the overall capital expenditure and associated travel expenses for conducting face-to-face meetings.
Video conferencing and immersive telepresence are some of the advanced technologies gaining the prominence in the recent times and are further being deployed over by various organizations. Most companies are now progressively using the enterprise based streaming solutions leading to enhance the interaction and collaborating among the geographically distributed teams, strategic business units, and customers. The solutions have enabled to effectively communicating geographically dispersed employees and customers.
The North American held largest share accounting for one third of total market in 2018. Asia Pacific was the second largest region in the global media market. Africa was the smallest region accounting for below 5% of the market.The deployment of advanced faster communication technology such as 4G and 5G wireless communication networks and high-speed broadband connectivity has subsequently resulted in development and deployment of advanced streaming solutions and services leading to raise media market over the forecast. Moreover, the companies are further using the social networking platforms such as YouTube in order to gain market visibility and introducing and promoting products and services.
The print media industry is presently witnessing transformations with the advent of new technologies. The new technologies further led to providing multitude of new platforms for disseminating news content in the ever exciting and innovative ways. The publishers of newspapers and news media have changed distribution approach by introduction of the digital offers and services that caters the needs of the consumers.
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Ankur Gupta, Head Marketing & Communications