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News |  31 May 2011 13:09 |  By Poonam

Robert Tercek: Traditional mass media cannot compete with digital

General Creativity president Robert Tercek was the opening key note speaker at Digital Matters 2011, a large-scale conference co-located with Music Matters on 24th- 25th May at Singapore. The conference designed programmes which covered the digital business verticals including movies, television, gaming, advertising, publishing and music.

Robert Tercek is one of the world's most prolific creators of interactive content. He has created breakthrough entertainment experiences on every digital platform. He has been named one of the 25 Executives to Watch... by Digital Media Wire, one of the Digital Dozen... most influential players in new media by Variety, and dubbed a TV Anarchist... by The Industry Standard.
 

Robert Tercek in a tid-bit with RadioandMusic.com:

Which areas of digital content were focused at Music Matters 2011?

This year Music Matters is launched with new expanded programmes and the topics focused exclusively on the monetisation of online video content covering all aspects of digital video and music entertainment.

Digital Matters 2011 focussed on various areas on technology innovation, big, small and game screen integration, online content monetization, social media and deeper consumer engagement.

Share your insights on the digital revolution in the Media sector?

All broadcast media is in the process of being absorbed by telephony  Some of the companies in the broadcast media sector will fiercely resist this trend, and others will embrace it, but the general trend is unstoppable and all-encompassing  The previous century was dominated by broadcast media, one-to-many uni-directional mass media. The second century of electronic media will be participatory, two-way and highly personalised. This is the biggest cultural transformation in 100 years   As a result of this change, audiences will evolve from passive observers to active participants in entertainment and media 

What kind of challenges will the transformation bring for the traditional media?

The transition from one-way broadcasting to two-way participatory media presents a number of significant challenges to producers of traditional mass media, ranging from business model disruption to evolving intellectual property rights to the end of authorship. But the general trend is well underway and it will not cease until the media landscape is completely transformed.

During the past 10 years, we've witnessed a complete transformation of the music industry, including the disruption of the old model of selling albums on disks, and the gradual emergence of entirely new business concepts  Examples of new music models include: Vevo, iTunes, Spotify, last.fm. Now, with the collapse of DVD sales, the motion picture industry is about to go through a similar transition to online distribution, many new online options for video rental and subscription have emerged from tiny startup ventures to major e-tailers like Amazon and Apple.

The pay-television industry is about to experience a similar disruption, the business model will be unbundled in the next five years as massive numbers of consumers migrate to online video services. In print, the transition to digital books is well underway, last week Amazon announced that the sales of ebooks have now surpassed the combined sales of hardcover and paperback editions. The traditional print industry (both books and magazines) is now in a terminal death spiral. Very soon we will live in a world where information of all sorts is consumed on digital devices. Physical versions of books, videos and music will be increasingly rare, reserved for special occasions.

BuddeComm reported, around 15% of overall worldwide advertising will be directed towards digital media channels in 2011, your views on the same.

Spending on digital advertising has already surpassed newspaper and magazines, soon it will surpass radio and increasingly budgets are moving from traditional broadcast media towards digital platforms. Within the digital media sphere, search advertising remains the largest category at 45%, but  the fastest-growing category of advertising is online display advertising. Recent innovations in real-time exchanges and behavioral targeting enable advertisers to spend their budgets far more effectively online, with empirical data to reflect conversion rates and performance. Traditional mass media simply cannot compete with digital platforms for precise targeting and measurement.

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