Consumers use their mobile phones for accessing the latest news updates from their daily newspapers and magazines or by viewing news videos on their mobile phones. New media channels are replacing traditional media channels
2. MEDIA FIRMS LEVERAGING MOBILE TRENDS
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The humble mobile phone that was once used for basic applications like
SMSing and making voice calls has transformed into a mini-computer
boasting the ability to run numerous applications today. Consumers use
mobile applications for a variety of activities including video
streaming, social networking and gaming. There are some windows
mobile apps like Skyfire which provide a better mobile browsing
experience for consumers, enabling them to view YouTube videos and
stream music effortlessly. Many media firms are leveraging the
changing trends in mobile technology to increase their subscriber base.
3. MEDIA FIRMS LEVERAGING MOBILE TRENDS
CONTINUE..
Consumers use their mobile phones for accessing the latest news updates
from their daily newspapers and magazines or by viewing news videos
on their mobile phones. New media channels are replacing traditional
media channels. Books are slowly getting replaced by electronic books.
According to eMarketer, in the year 2011, electronic books generated
$2.9 billion or 13.4% of the book market in U.S. Mobile app developers
need to build cross platform mobile apps like Google eBooks which can
be used for reading digital books across multiple devices.
4. MEDIA FIRMS LEVERAGING MOBILE TRENDS
CONTINUE..
The media and entertainment industries will witness rapid growth through
the adoption of new content formats, innovative advertising models and
content monetization techniques. Media companies are developing a
mobile strategy to improve customer loyalty and increase their
revenues. Some trends that will shape the media and publishing
industry are briefly described below.
5. INCREASING MOBILE APP USAGE:
There is an increasing trend of people using mobile apps. According to a
study by Morgan Stanley, the number of mobile app users will exceed
the number of desktop users by early 2014. The mobile market is
dominated by software platforms like Apple and Android. Reader
behavior and trends are mainly influenced by the iPad and Android.
Therefore, content publishers need to ensure that they have a mobile
presence to tap this growing segment of mobile app users to increase
their revenue.
6. MOBILE ADVERTISING TO OVERTAKE WEB
ADVERTISING
Advertisers are looking at mobile ads as an important channel to reach their
desired consumer group. Mobile strategy has become an integral part of the
marketing strategy of companies. Ad budgets are getting reallocated from
conventional channels to digital channels. In 2011 mobile advertising spending in
the U.S. was around $1.45 billion, according to estimates by EMarketer. Mobile ad
spending is expected to touch $2.61 billion, with an 80 percent growth this year.
Flurry has stated in one of its blogs, “US app inventory is not only growing at a
staggering rate, but also poised to absorb the equivalent of the entire US Internet
display advertising spend by the end of this year.”
7. ROLE OF SOCIAL MEDIA CHANNELS
The media and publishing industry can increase their audience reach by
employing social media channels. Although the industry currently uses
social media as a promotional tool for their content, this trend is about
to change. Social media channels like Twitter and Facebook also have
immense potential to serve as publishing tools, providing delivery of
content and faster dissemination of content. Some examples of this
phenomenon are Washington Post’s Social Reader and Guardian’s
Facebook app.
8. CONCLUSION:
In summary, the media and publishing industry should incorporate a mobile
strategy as an essential tool in their business to reach their target
audience. Some trends that have impacted the industry include the
growing usage of mobile apps, increasing mobile ad spend when
compared to online ad spend and the shift in the role of social media
channels as publishing tools, rather than promotional tools.