The Hollywood Reporter ran a piece about global, shifting market conditions for the entertainment industry. The data comes from PricewaterhouseCoopers and it isn’t very shocking if you’ve read about the trends in the industry over the last few years. What is surprising is the “see, everything’s fine!” analysis. The U.S. is stagnant, or shrinking, over time. Much of the growth is anticipated overseas, particularly in China, and mostly for first-run box office numbers.
Look at this bullet-point on advertising:
Web ads will hit $83.9 billion in 2019, overtaking TV ads, which will generate $81 billion.
Advertising is the primary revenue source for broadcast TV networks, and cable networks. Internet advertising overtaking TV ads before TV is really on the Internet is not a good thing. They should be moving lock-step with the ads.
This piece by THR is the reassuring pat-on-the-back that the old ways are still working. That’s to be expected from THR which still feels compelled to print this at the top of the article:
This story first appeared in the June 12 issue of The Hollywood Reporter magazine. To receive the magazine, click here to subscribe.
No, you did not travel through time, it is still June 2nd. Hey wouldn’t you like to buy some dead paper with 10 day-old analysis about how old media is fine?