The newspaper industry is currently experiencing significant transformations with the advent of new technologies. The new technologies are providing a multitude of new platforms to disseminate news content in exciting and innovative ways. Publishers of newspapers and news media have changed their distribution approaches by introducing digital offers and services which can cater to the needs of the consumers.
THE BUSINESS RESEARCH COMPANY EXPECTS THE MEDIA MARKET TO GROW TO $3 TRILLION BY 2021
North America was the largest region in the media market in 2017, accounting for more than one-third of the global market share.
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According to The Business Research Company’s Consultant, Nitin Gianchandani, the rise in social media and the increasing volume of consumer data is driving growth and innovation in the book publishing industry. Book Publishers can have broad and deep visibility into their consumers, distributors and other stake holder data. Publishers with digital first model are investing significantly in building in-house data and analytics team. For example, Next Big Sound’s, Next Big Book application provides a dashboard for the publishing industry that draws sales, publicity events, social media, and web trends regularly to offer a holistic view of the books’ performance. It will highlight factors that are the most influential such as social signals, book tours, prices and authors. Experiments are also underway to use big data in the fields of ‘dynamic pricing’ and also for personalized suggestions based on viewers’ history.
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Google Inc. was the largest competitor in the media industry in 2017, with revenues of $79.4 billion for the financial year 2016. Google is an American multinational technology company specializing in internet-related services and products. Google continually focuses on investing in its existing products and services, including search and advertising. Additionally, it also invests in developing new products and services through research and product development. The company often releases early-stage products and then uses data and user feedback to decide if and how to invest further in those products.
The word ‘media’ refers to the technology by which information is delivered to an audience. The media industry consists of businesses that produce and distribute television and radio programs, motion pictures, and commercials along with video and audio recordings, games and publishing. Media plays an important role in making the world a global village and reducing the communication gaps. Media is considered as a source of/channel for information, education, entertainment and advertising.
Media Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $8000 for an individual user. To use across your office, the price is $12000 and $16000 if you wish to use across a multinational company.
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