The loudest buzzwords you're hearing in the journalism industry today - native advertising, monetization, big data - are here to stay, according to a new global trend-spotting report.
Digital media strategies are in flux the world over, and the World Newsmedia Network is on the hunt for the cause, and how it will affect global media in the rest of 2014 and beyond. The organization compiled its results - "500+ data sets and 60,000+ words of analysis about digital media usage and revenue trends from 60 media research houses" - into the Global Digital Media Trendbook.
"If the biggest opportunities for media company revenue and content strategies for 2014 could be summed up in a few words, they would be big data analytics, paid content, native advertising, programmatic advertising, product development, tablets, e-commerce and smartphones," begins the report.
The report notes that while traditional advertising is on the decline, especially in the West, advertising is still the "most lucrative revenue stream...for the past, present and foreseeable future," though now it's also coming in the form of mobile advertising, native advertising, paid content and e-commerce.
The 2013 World Newsmedia Innovation Study (detailed in this report), however, shows a new barrier to competing and innovating on a global scale. No longer is the success of media companies determined by new product development or "the inclination to innovate. Instead, their top priority is accessing the ICT required to be truly competitive in what is fast becoming a ‘winner-takes-all’, mobile-dominated marketplace," the study says.
The innovation study drew from responses in 11 languages from senior media professionals in 49 developed and developing economies worldwide.
The nine-chapter book - with sections on social media strategies, digital hot spots around the world, the cycle of innovation (with examples from The New York Times Innovation report) and more - will be available for purchase in September, but you can browse the executive summary for free via PDF.
IJNet Managing Editor Margaret Looney writes about the latest media trends, reporting tools and journalism resources.
Image credit: screengrab of "Digital Hot Spots 2014" map from the Global Digital Media Trendbook.