As in the US, where live TV viewing sank 8% in the 25-34 year olds last year, younger people in the UK are also shifting their viewing online. The 25-34 year old UK viewers watched 7% less television last year. UK youth has also adopted the smartphone as their device choice.
Large publishers and broadcasters — many of which control the content and its delivery — have switched to digital business models and have the network and IT infrastructure to support high-speed transmission, new digital media formats and multi-channel delivery.
IDATE estimates the global content industries market reached 145.5 billion EUR in 2014. On a global scale, 41.2% of revenues came from dematerialized digital channels — nearly twice the results of 2011.
Global ad spending will continue to grow, but more slowly than previously forecast by eMarketer. In 2015, total worldwide advertising spending will reach $569.65 billion. This figure has been adjusted downward from $577.79 forecast in March, due to lower-than-expected ad spending in Latin America, North America, and Western Europe.
In the first week of August a handful of media conglomerates — including Viacom, Disney and Discovery Communications — reported disappointing earnings, citing soft TV advertising revenue due to decreased viewership among millennials and young adults. A total of seven companies lost a total of over $35 billion of their market cap, per the Wall Street Journal.
While many major western media face budget cuts, Chinese media are busily expanding offices and recruiting staff: Xinhua News Agency currently has over 180 news bureaus globally, publishing news text, photographs, audio and video programs around the clock in eight languages.
Programmatic, or automated, spending on display advertising is a $9 billion market that is expanding at almost 30 percent a year. Spending is expected to exceed $30 billion in 2019. Growth in programmatic revenue for all types of publishers is outpacing traditional advertising.