The number of online content buyers in Western Europe is set to grow between 8% and 12% over the next five years, and revenue from paid content is set to grow 65% — from €6,2 billion in 2012 to €10,2 billion by 2017. What does this mean for advertising?
I worked with the above forecast data for a Forrester report I wrote called ‘Forrester’s Online Paid Content Forecast, 2012 To 2017 (EU-7)’ and identified an early opportunity for Content Marketing. Why?
As more media owners charge consumers directly for content this is limiting pure advertising opportunities. Think of the growth in subscription entertainment services like Spotify and Netflix. Consumers pay a premium for ad free content they can watch where, and when, they want.
Greater choice in content also means consumer attitudes towards advertising are shifting. Consumer trust in advertising, particularly online, is at an all time low. Banner blindness is now hard wired into how we move across websites and digital services.
What can you do about it? My recommendation is that brands must develop content capabilities now to slowly offset the shifts away from traditional advertising — both on- and offline.