2012's Growth Area? Media Business Leaders Say 'Digital'
August 4, 2011 at 3:57 AM (PT)
More than 90% of communications and media business leaders expect digital revenues to grow this year and more than a third anticipate increases greater than 10%, according to the results of the annual Communications and Media Industry Business Climate Survey by KPMG LLP, the audit, tax, and advisory firm.
In the survey of communications and media company management nationwide, 94% expect an increase in digital revenues, up from 2010 when 83% expected gains. Also, more of them look to larger increases, as 37% expect their companies to grow digital revenues by over 10%, compared to 31% in the 2010 survey who expected double-digit growth.
In addition, the respondents in the 2011 survey said increasing broadband access speeds, new distribution methods, social media platforms and online advertising are the most important drivers of their company's overall revenue growth over the next three years.
"It's clear from our survey that communications and media executives are more optimistic and their companies are placing bets that now is the time to position and invest for growth, despite an uneven economic recovery," said KPMG National Sector Leader for Communications and Media PAUL WISSMANN. "They're focused on investing in technology and products through both organic growth and mergers and acquisitions to beat the competition and grab emerging opportunities."