How does Digital Media affect Traditional Media channels?
How does Digital Media affect Traditional Media channels?:
In the last ten years, digital media and traditional media channels have begun to intersect and affect one another. As a result, both channels are evolving to better fit consumer behaviors.
Digital has changed the way we consume media, and traditional media channels are adapting to stay relevant. [Here are the great insights and stats from Digital Trends 2022]
TV networks are creating digital platforms to reach viewers where they are – on their smartphones and tablets.
Newspapers are offering content online to reach a wider audience. Magazines are developing mobile apps so readers can access content on the go.
Ad spending in Digital Classified is expected to show an annual growth rate (CAGR 2022-2026) of 3.01%, resulting in a projected market volume of US$23,912m by 2026 [Statista].
Digital media is transforming the way we create, distribute, and consume content. It is creating new opportunities for collaboration and content sharing.
With the rise of social media, independent creators have a platform to reach a larger audience.
The Digital Banner Advertising segment is expected to show an ad spending growth of 2.0% in the mobile segment in 2023 [Statista]
Digital media platforms are also making it easier for listeners to find new music, writers to find an audience for their books, and filmmakers to share their work with a global audience via OTT.
Digital media is a cheaper option for advertisers. Digital advertising is easier to manage and target. Digital advertising is cheaper because it does not require the same resources as traditional media.
Digital media channels offer more targeting options for advertisers. Traditional media channels are limited by geography and demographics. Digital media channels allow more granular targeting based on interests.
Digital media sources are growing at a faster rate than traditional media sources. Digital media is increasing in popularity while traditional media is declining. Companies are shifting their advertising budgets from traditional to digital sources because of this trend.
In fact, according to Research and Markets, the global digital advertising and marketing market is set to reach $786.2 billion by 2026.
Yet, the combination of traditional media channels and digital platforms has resulted in brand-new ways for companies to engage with consumers or retain current ones.
Here's related information that you may find helpful - Digital Market Outlook’s Global Summary Stats, Insights and Forecasts 2022
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