Digital media is a fast growing, global industry, with massive potential for further expansion in established and emerging international markets.Recent years have seen unprecedented growth in the digital media industries. According to recent analysis, the global entertainment and media industry was worth $1.6 trillion in 2007 and is forecast to grow at an average rate of 7% to 2012, with particularly strong growth in the mobile/wireless, internet advertising and video games sectors.
This growth has been driven by a combination of technological advances and changes in consumer behaviour, both of which have pushed significant innovation across digital media sectors.
The convergence of digital technologies has greatly expanded the range of channels and devices through which consumers can now access content, including digital television platforms, broadband internet, mobile phones, games consoles and handheld devices. While much of this is not new, most of these technologies and devices have now reached or passed tipping points in consumer adoption that make them commercial, mass market propositions.
For example, recent analysis suggests that there are approximately 4 billion mobile phone subscriptions in the world, and half of the world’s households are forecast to have digital television by 2013 . In the UK, more than 15 million homes now have broadband connections, with next generation networks starting to emerge, and 87% have access to digital television.
Structual and maket drivers
The media environment is now truly digital and global.
There are also important structural and market drivers impacting the industries at global level. The digital media industries vary considerably in size, scope and market focus - from small lifestyle businesses to large multinational corporations and across a range of often disparate sub-sectors and supply chains. All creative sectors need small companies and often the most creative and innovative ideas come from companies that are not scaled and can approach the market from either niche activity or areas of innovation that the mass-market has bypassed.
Unlike other sectors where scale is a pre-requisite, digital media in its most creative and innovative form can emerge from bedroom programmers, recent graduates or micro start-ups. In order to find scale, Scotland will always need the ignition of fresh ideas, innovative small teams and new entrants. Some of the most recognisable global brands of the last few years - the micro-blogging technology Twitter and the social network Facebook...click here to read more and download the strategy document.