The IABM has released its latest Buying Trends Report, which reveals a confidence in the broadcast and media industry despite a drop in revenues.
According to the report, revenue growth has decreased from 9.3 per cent in April 2019 to 3.1 per cent currently, and profit growth remains negative at -3.1 per cent – slightly down from -2.4 per cent reported in April.
One of the other key findings of the report is that multi-platform content delivery is the most important priority for technology users followed by 4K/UHD.
The report also reveals:
- Confidence in the industry remains high with 74 per cent of respondents saying that they are positive about the business environment, down by four percentage points compared to six months ago
- 21 per cent of technology users derive the vast majority of their revenue (more than 80 per cent) from traditional broadcast operations although most expect this to change
- Efficiency remains the most important driver of product purchase, followed by total cost of ownership and agility
- Investment in building internal capabilities for technology development continues to increase
- Cloud, UHD and AI rise while Blockchain is still at an early stage of adoption at 2 per cent
- 92 per cent of end-users say that interoperability is important
“Changing priorities have translated into a shift in technology spending that prioritises Opex over Capex,” said Lorenzo Zanni, IABM head of insight and analysis. “Our data demonstrates that technology users are focusing on solutions that make them more efficient and agile. In order to do that, they are spending more money on generic IT technology and increasingly investing in in-house development to suit their specific needs. This shift in technology spending is prompting end-users to adopt a variety of emerging technologies to streamline their supply-chains for the multi-platform world. Given that confidence levels remain relatively high, it is clear they are optimistic that they can meet the challenge from the digital giants head on.”
