User-created content causes companies to take notice

According to a survey conducted among media and entertainment executives, the biggest threat to business right now is user-generated content. Accenture, a management consulting technology firm, conducted this survey which showed that 57% of those who took the survey consider user-generated content as one of the top issues they have to handle. The survey found that 70% of the respondents said that social media will become more popular while only 3% feel that this is a fad.

Gavin Mann, digital media lead for Accenture‘s Media & Entertainment practice, spoke on the findings of the survey.

This is just the beginning for a rapidly changing landscape where the media content environment grows more fractious and the user gains more control and power. Traditional, established content providers will have to adapt and develop new business and monetization models in order to keep revenue streams flowing. The key to success will be identifying new forms of content that can complement their traditional strengths.

In a nutshell, this means that companies will have to adapt to the fact that there is more user-generated content on the market if these companies want to continue making money. The chief executive of CBS, Leslie Moonves, also spoke about the effect of user-generated content on the market. His conclusion is essentially the same as Mann, although he focused more on how it will affect the technology companies use to bring users their products.

Technology will continue to alter the distribution landscape, allowing people to access content on their own schedule, wherever they are, in all kinds of ways. Current technologically driven distribution channels will expand and new ones will open. But without compelling content, every new platform is an empty shell. Companies that can combine world-class content with powerful national and local distribution will have the competitive advantage.

While this is considered a problem, 68% of the businesses which took part in the survey feel that they will be making money from user-generated content in three years. This is good compared to the 24% who still don’t know how they will adopt a new method of marketing their products.

Among those who have already developed a plan on how they will take advantage of user-generated content, 62% have said that they would be earning from advertising and sponsorships of the said product. What might surprise most though is the fact that only 18% would be trying a “pay-per-play” approach and 21% were considering subscriptions.

While user-generated content has been around for some time now, it’s only now that companies are beginning to take notice. The community has really evolved with more user-generated content and it looks to be changing the way businesses will be run in the future. We can only wait and see how the market will evolve to accommodate this new niche that has been gaining ground in the recent years.

According to a survey conducted among media and entertainment executives, the biggest threat to business right now is user-generated content. Accenture, a management consulting technology firm, conducted this survey which showed that 57% of those who took the survey consider user-generated content as one of the top issues they have to handle. The survey found that 70% of the respondents said that social media will become more popular while only 3% feel that this is a fad.

Gavin Mann, digital media lead for Accenture‘s Media & Entertainment practice, spoke on the findings of the survey.

This is just the beginning for a rapidly changing landscape where the media content environment grows more fractious and the user gains more control and power. Traditional, established content providers will have to adapt and develop new business and monetization models in order to keep revenue streams flowing. The key to success will be identifying new forms of content that can complement their traditional strengths.

In a nutshell, this means that companies will have to adapt to the fact that there is more user-generated content on the market if these companies want to continue making money. The chief executive of CBS, Leslie Moonves, also spoke about the effect of user-generated content on the market. His conclusion is essentially the same as Mann, although he focused more on how it will affect the technology companies use to bring users their products.

Technology will continue to alter the distribution landscape, allowing people to access content on their own schedule, wherever they are, in all kinds of ways. Current technologically driven distribution channels will expand and new ones will open. But without compelling content, every new platform is an empty shell. Companies that can combine world-class content with powerful national and local distribution will have the competitive advantage.

While this is considered a problem, 68% of the businesses which took part in the survey feel that they will be making money from user-generated content in three years. This is good compared to the 24% who still don’t know how they will adopt a new method of marketing their products.

Among those who have already developed a plan on how they will take advantage of user-generated content, 62% have said that they would be earning from advertising and sponsorships of the said product. What might surprise most though is the fact that only 18% would be trying a “pay-per-play” approach and 21% were considering subscriptions.

While user-generated content has been around for some time now, it’s only now that companies are beginning to take notice. The community has really evolved with more user-generated content and it looks to be changing the way businesses will be run in the future. We can only wait and see how the market will evolve to accommodate this new niche that has been gaining ground in the recent years.