Influences of Ict in Media

MIS Team Project

The Influence of ICT in the Media Industry

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Group 6D
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22/2/2013
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Word Count: 2582

Conor Cronin-12254457
Eimear Collins-09361413
Francis Kelly-12250461
Paromita Ghatak- 12254245
Jun Wu-12255394

Introduction
ICT underwent a revolution in the 20th century. Our society has been going through deep transformations within the ICT sector for many years. ICT innovations are both a driver and a supporter for these transformations. New enabling technologies and applications are emerging rapidly. Growth of the media sector has been heavily influenced by the development of broadband and ICT’s. The impact of ICT on media, social behaviours and on creativity will continue to grow.
The leading global management consulting and market research firm Lucintel have estimated that the global broadcast media will reach approximately US $597 billion in 2017 with a CAGR of 4.5% between 2012 and 2017. (Parker: 2012) According to the study, the media industry is fragmented, with the top five and top 10 players accounting for approximately 21% and 32% respectively. They also estimate that the global newspaper industry is expected to reach US $171.6 billion with a CAGR of 1.6% by 2017(Parker: 2012). The industry faces some challenges due to the growing importance of new media, driven by dynamic media consumption patterns, resulting in a large shift of readers to the online news sources. (Parker, 2012) According to PWC digital spending will increase at a 12.1% CAGR compared with just 2.8% for non-digital. (Marketing Charts Staff, 2012)
This report will look at how ‘old’ media will try and bridge this gap and move into a more ICT related industry. The assignment will look at the strong influence ICT has had on the media sector. Furthermore this report will describe the evolution of ICT in media. Additionally

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