Industries & Professions /
Media and Entertainment
The digitization of content and ongoing innovations in technology will continue to drive growth and force changes in the media and entertainment industry. Publishers and broadcasters alike will continue to experiment with new revenue streams, particularly to reap the benefits from digital subscriptions and online advertisements. The research group Magna Global reported that global media companies experienced nearly 4 percent growth in advertising revenue in 2012, at nearly $480 billion, compared to the previous year. The U.S. and Canadian media suppliers had 4.2 percent growth in advertising revenue, mainly due to dollars spent on political and Olympic advertisements. Media Global forecasts digital media revenues will increase by 13.5 percent in 2013, due to the growth of online video and mobile-based formats.