Digital Media Concepts Popular Among Execs

Although daydreaming doesn't accomplish much

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[ Social Media]

Media and advertising executives are displaying an "eyes on the prize" attitude, according to new survey results.  A significant number of the execs support fresh technologies and approaches, and want to embrace them over the next few years.

Accenture talked to 100 individuals, and found that 66 of them believed new platforms or ways of delivering content will be the largest drivers of revenue growth over the next five years.  Ad-supported business models were popular with 62 execs, and 68 felt that social media and user-generated content represent a "high-growth opportunity."

 Execs Only Partway To Digital Media Goals

Unfortunately, regardless of where their eyes are focused, the execs seem to have their hands in their pockets.  Accenture stated, "While half (50 percent) of the executives interviewed said they know which capabilities they need to take advantage of in this new digital market, Accenture believes that many have a false sense of their current capabilities."  Which means more than half may not have a clue.

Also, "Sixty-six percent of the respondents have less than 40 percent of required capabilities, a number that is unchanged since last year’s survey, indicating that companies need to implement new digital technologies or be left behind."

For the companies corresponding to the 100 execs (who hail from the U.S., the U.K., Switzerland, Belgium, Germany, Austria, Italy, France, and Brazil), this is bad news.  The survey highlights a great opportunity for other businesses to get ahead of the curve, however, since smaller outfits should be able to adapt more quickly.

Finally, for whatever it’s worth to either small businesses or the average Web user, the majority of Accenture’s execs don’t expect any Web 2.0 bubble-bursting to take place in the near future.

Digital Media Concepts Popular Among Execs
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