Media and content digitization benefits consumers, but revenues lag behind
According to a new JRC report, digital spending - the acquisition of media products in digital format - tripled from 2006 to 2010 worldwide, with the recording music sector now achieving 30% of its global sales in the digital market. The digital success of the music sector contrasts other media and content industries, which are moving at a slower pace towards digital with distribution. Only 6% of film/video, newspapers, magazines and book sales were digital.
This work represents an important contribution to the Commission's recent initiative to boost growth and jobs in the cultural and creative sectors. Sectoral studies on production, distribution, pricing and consumption in cinema, music, newspapers, videogames, book publishing and broadcasting have contributed to this overview, whose findings will be discussed at a conference in Brussels on 25 and 26 Ocotber.
The JRC report explains how new techniques result in efficient distribution, unleash new markets and bring lower costs for the consumer. However, worldwide, industries' only saw their revenues rise slightly up until 2010. The study highlights the increasing interconnection and convergence of the content industries sector with the information and communication technologies sector (ICT - telecom, computer and software industries). The content and ICT industries together are growing globally, for the period 2006-2010 at an annual rate of 8.4%, while the content sector grew at a rate of 4.9%.
- Event website: The Dynamics of Media and Content Industries
- Press Release: Media and content digitization benefits consumers, but revenues lag behind
- Memo: 10 facts about media and content industries
- Event agenda: The Dynamics of Media and Content Industries
- Website: Media and content industry website (sectoral studies)
- Press release: Commission launches strategy to boost growth and jobs in cultural and creative sectors
- EC Communication on "Promoting cultural and creative sectors for growth and jobs in the EU"
- JRC report: The media and content industries. A quantitative overview