While US is the leader in media advertising with its huge budgets, other countries soon follow in their footsteps. Indian media advertising is Rs. 3000 Crore market (~ $1 billion). With more and more people coming online in India, this market is only going to grow. The giants like Bennett & Coleman and others are trying hard to get a piece of this huge pie.Businessworld ran a cover story on online advertising in India. Indian users donâ€™t have great access to the Internet compared to users in other countries. A large number of users in India still gain access to the Internet via dialup but that is changing fast and affordable broadband is making great inroads. The end result is the number of users jumping online is soaring but the sad reality is there are no metrics to engage online users in these emerging markets.Most of the advertising money in the Indian sub continent still goes to the traditional print and Television advertising, but as broadband penetration increases, India is going to become a huge market destination for online advertisers. The sheer population of India will soon be a major attraction for advertisers.
Q1 2007 is over and it was interesting to follow some facts from the media world. Physical CD sales were down over 20%, and close to a $20 million drop in revenue. Digital sales however were up over 50%! For the Online music stores, this is a very good sign, however the considerable growth isnâ€™t enough to offset the physical recession.This is a great time to look into Divinity Assets SCOPE technology.Record Companies today need to start thinking outside the box. Their survival is dependent on sharing their revenue stream with their Artists. You might ask yourself, how can they share revenue when they lack major profits? Record labels need to find revenue streams other than traditional album sales. They need to look for better tools enabling them to monetize their investments in the Artist. Relying on a major album release as a blockbuster sale is equivalent to driving yourself right off a cliff. Using a tool like Divinity Assets Scope heals this pain, and enables Artists and Labels to discover new and emerging markets. Once uncovering where your markets are, you can now begin strategically Advertising on multiple platforms (Mobile, Web, p2p, Traditional) and building a stronger Brand for your artists. SCOPE also brings Event planning into the digital age strengthening touring schedules, and increasing overall merchandising. Scope is an all-inclusive tool that only makes you, THE RECORD LABEL, more appealing to your clients, as acts a viable way to create opportunity for your business.
Apart from the snazzy logo that we have now thanks to Shadi, we also made some changes in Scope. Scope is a fantastic tool as it is but we keep looking at it and thinking of new ways we can help our users obtain more market insights and be more productive in conducting research. We cleaned up some of screens and made some significant performance improvements. You will notice right out of the gate that many of the screens are up to 25-40% faster then before. Most of the changes that were made was based on feedback from our beta customers, so keep those comments flowing in.While we are working away to make Scope better, it is always interesting to keep tabs on what is happening in the industry today. When you look at the time we are living in, you cannot help but think that the media market is exactly like it was in 1920 in a way. A new medium of delivering video is starting to take shape and there are many companies experimenting on how to deliver content in a format that will engage consumers. But the fact is that unlike anytime in history there are so many mediums to obtain digital content from. You can obtain content from your XBOX, the Web, PSP, PS3, BitTorrent, P2P Services, Viral Videos, cell phones, PDAs, and it seems more new devices and services popping up everyday. It has become a nightmare for Media Managers. Which networks to syndicate to? How much to charge for licensing? Are there new markets for my content? The result, today revenue is being lost in the billions by not having pinpoint and accurate metrics on where to engage audiences and that is a sad fact.The traditional methods used by Neilson and gang are not enough when you take all the mediums and various kinds of content available. The sheer fact that the average American household has over a 100 channels on their traditional television coupled with the media offerings of the web, means it is increasingly important to have rock solid metrics so that you can find the people who are interested in your content.To make matters worse, today’s consumer, from our research, is more fickle than ever. The average savvy user jumps between platforms faster and faster to get their content fix and having the latest hot thing in that geographical area or culture is key. The user will get their content they desire one way or another, either through a sanctioned platform or another third party platform. That is where the need of a truly cross platform media metric tools are in increasing demand. To quickly find your audience and drive conversion is the name of the game now a days and the company that has the media military which posses the right eyes and ears (metric tools) is going to be very well of.By the way, did you know Brazil was one of the top consumers of Heroes; the popular NBC drama. One of my favorite TV shows. Check out next blog post for more details â˜º