SOURCE: ExtendMedia

October 09, 2008 09:35 ET

Media Companies and Telecommunications Providers Agree: Cross-Platform Digital Media Initiatives Are Essential

300+ Industry Executives Joined ExtendMedia Event to Discuss Strategies for Making Digital Video Profitable Across Multiple Screens

BOSTON, MA--(Marketwire - October 9, 2008) - More than 300 business development, operations and marketing executives from respected companies in the telecommunications, media and consumer electronics industries participated in a recent StreamingMedia.com Webcast led by experts from ExtendMedia and Broadband Directions. During the event, "Don't Get Screened Out: How to Make Video Profitable Across Multiple Screens," executives emphasized their objective to generate profits from digital media initiatives that are not tied to one screen, but rather, are integrated across multiple media platforms -- television, Internet and mobile phones.

Increased revenue was the primary goal of digital media initiatives according to more than half of respondents (51 percent). With revenue generation top-of-mind for most, consumer engagement (18 percent), industry innovation (15 percent), brand recognition (13 percent) and crowding the competition (three percent) were additional areas of interest.

"There are major trends converging in the current digital media industry -- consumers' anytime, anywhere viewing habits, content providers' need to access eyeballs and service providers' push to get a piece of the pie," said Will Richmond, president of Broadband Directions LLC and editor/publisher of VideoNuze. "Determining the value chain for tomorrow's video economy, and in turn where future revenue opportunities lie, is a continued challenge for all market participants."

Supporting the need for a digital media initiative that extends across multiple screens, a recent Nielsen study found that Americans of all ages use all three screens as overall viewing time continues to increase. The report also found that consumers are watching more traditional TV than ever, in addition to spending an increasing amount of time viewing video content on the Internet. In addition, a small but growing number of consumers now access video via their cell phones.

During the ExtendMedia event, more than half of respondents (56 percent) noted that the PC is the primary way their consumers digest digital media, followed by a quarter (26 percent) claiming that their customers consume digital media via all three screens. Few identified the TV or mobile as the primary vehicle (14 percent and four percent respectively).

"Consumers demand content when, how and where they want. Moreover, they want to take that content and use it across all of their devices, from the plasma in their living room and the PC on their desk to the cell phone in their pocket," said Chris Gardner, chief marketing officer of ExtendMedia. "Media companies, service providers and consumer electronics companies must think beyond the TV, Internet or mobile screen as standalone vehicles and give consumers seamless access to high-quality video content across networks and devices."

The primary barrier to implementing a cross-platform digital media initiative is cost, including both budget and resources, according to almost half of respondents (48 percent), closely followed by the inability to measure return on investment (34 percent). Surprisingly, only 18 percent noted lack of content or content overload as a current barrier.

Listen to the Webinar in its entirety.

About ExtendMedia Corporation

ExtendMedia's digital content service delivery platform offers unrivaled flexibility and versatility to create, control and securely deliver high-quality digital media content across broadband, TV and mobile devices in both paid media and ad-supported formats. Headquartered in Boston, Mass., ExtendMedia powers initiatives for innovative communications, media and consumer electronics companies including: AT&T, Bell Canada, NBC, Hewlett Packard, SanDisk, SHOWTIME, NASCAR, and Nelvana Entertainment. For more information, please visit us at http://www.extend.com.

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