Approximately half of all the CEOs surveyed believe digital will increase their overall revenues and margins by at least 10 percent within the next three years.
The report is the result of surveys conducted with 34 CEOs from global media and entertainment companies with combined annual revenues exceeding US$300 billion.
Other insights from the report:
• 84 percent of CEOs believe the role of social networking for their company is to connect with customers; building audiences and brands are secondary.
• 76 percent of CEOs said the objective of an “app” is to be part of bundle of new or enhanced content and services.
• The top priority for CEOs remains the evolution of digital and online distribution (56 percent), followed by creatively differentiating content (44 percent).
• Social and interactive media companies are best positioned among all media and entertainment companies to thrive in the future, according to 59 percent of CEOs.
Ernst & Young global media and entertainment leader John Nendick says CEOs are undeterred about the role digital will play in their futures.
“There is heightened optimism from few years ago when industry leaders were more tentative about the potential of digital. All of the CEOs we spoke with understand that digital is probably the single most important factor – impacting their ability to grow both revenues and
