Disruption is on the move. Traditional media usage is on a steady decline. New media via the internet is replacing it. We are passed the tipping point. It will probably on accelerate.
What about your world? Are you beginning to see a shift to the digital? Are you ready?
According to data published by ZenithOptimedia this week, people around the world now spend more than eight hours a day consuming media, with the Internet taking up an increasingly large chunk of total media consumption.
In 2014, people spent 110 minutes a day online, up from just 60 minutes in 2010. Meanwhile traditional media usage, i.e. TV, newspapers, magazines, radio and cinema declined from 402 to 376 minutes a day.
While television consumption fell by just 6% between 2010 and 2014, the print industry is suffering most from the new digital competition. Newspaper and magazine consumption dropped by 26% and 19%, respectively, since 2010 and is expected to see further declines in the next few years.