There is no denying “digitalization”. We are now at an age where the movement from traditional mediums – the likes of print, radio, and even analog television – to the digital domain is inevitable. The official report released by Price Waterhouse Coopers showing the continued decline of revenues generated by traditional media further establishes such.
According to the firm’s report, the 2009 revenues of traditional media didn’t just go down as expected, it even went beyond their initial negative earning estimates. The biggest losers of them all are the billboard advertisers whose earnings dipped 13%, that’s almost double the forecasted 7% decline. To put things into perspective, that’s an estimated $91,000,000.00 decline in the $7 billion out-of-home advertising industry of the US alone.
Two other traditional media that did the same come from print media, specifically the newspaper and the magazine publishing sectors. Both of which had their revenues going 2% lower than their forecasts with 12% and 9% declines respectively.
On the other hand, digital media did the exact opposite by earning higher than their forecasts. Internet advertising continued its soaring trend with a total rise of 4%, safely away from its forecasted 3% decline.
On the brighter side of traditional media, Sunday Magazine sales rose a healthy 13%. This is then followed by a 9.1% revenue growth coming from the National Papers.
Traditional media’s presence might be guaranteed to stay regardless of the ups and downs it has been facing however, Enform believes going digital is now the mainstream and is therefore the safer – not to mention more effective – way to reach your audience. We’d love to tell you more about it so give us a ring anytime.