26/06/2024
Words from our Publisher Thomas Kingston.
Over the past year, so many of the essential workers inside the Media & Entertainment industry are being forced to change careers.
Financial insecurity among creatives and production crews, everywhere, is very real.
Clearly, the vast majority of industry revenues from entertainment content are not being received by those who create it.
I hear this every day. It is both heart-breaking and deeply frustrating.
Nearly all of the information we can find on the conditions within the content production segment of our industry is based on anecdotal evidence. In nearly every article or social media post, we experience the anxiety without any mention of solution.
We hear and feel the hope that the Media Majors will begin to help. They won't.
So I thought it would be good to share some hard numbers. Only once we embrace facts can we do something about them.
As a global industry, Media & Entertainment is raking in the money. According to PWC, consumer spending on access to content will reach US$1.7 trillion this year. A rising trend in advertising spend is expected to reach US$1 trillion within the next few years.
Last year, industry spending on content production reached US$250 billion, not including marketing costs.
This is an exceptionally large ratio of revenues to production costs.
The vast majority of that revenue goes to those who distribute and deliver the content to consumer audiences. Today, that means the Media Majors.
Tomorrow it will be exactly the same. Unless creatives decide to go around the Media Majors and take a piece of those revenues for themselves.
"How?" Is the question shouted back to me.
To a creative industry with technology at its fingertips, I can only reply, "Any way you can!"
The only way to change the Media & Entertainment industry for the better is disruption.
Investors of every size are waiting to help.
This is why I started the Media C-Suite.
I hope you will join me.
