FinNode USA - Media Markets USA
The significance of the Internet and Mobile in the daily lives of Americans, both at work and in the home, continues to grow unabated. In particular, the US is enjoying significant growth in digital media markets, particularly in areas such as search, social media use and e-entertainment. In tandem with this growth has been the steady development of the US digital economy, including significant growth in e-commerce and m-commerce. The increasing popularity of social networking sites and user-generated content sites were beginning to have significant flow-on effects in the areas of online retails sales and content delivery strategies. Although the effects of the economic downturn continued to negatively impact such areas as online advertising, widespread growth is expected across all areas of the digital media market during 2010/11.
US mobile ad spending is expected to break the $1 billion mark this year, up 48% from $743.1 million in 2010, according to eMarketer. eMarketer’s estimates include display (banner, rich media and video), search and messaging-based advertising. With so many outlets available today to communicate with consumers, you may find yourself wondering what the most efficient and cost-effective medium is to get your message across. In recent years, there has been a rapid increase in non-traditional media such as mobile advertising, and everyone wants to be a part of the game. According to eMarketer, in 2010, the total amount of money spent on mobile marketing was $743.1 million. That number is estimated to reach $2.5 billion by 2014. Total U.S. online ad spending will increase 10.5% this year to reach $28.5 billion, and reach $44.5 billion by 2015, eMarketer says.
Because of the functionality of most smartphones, contrary to popular belief, there are not as many limitations advertising on a phone versus a computer that people think. For example, both medium allows rich content to be streamed to consumers. Plus, when you combine the advertisements with the statistics listed previously, a mobile advertising campaign may be the perfect fit. And this goes beyond to mobile advertising - to all Internet based advertising and engagement.
In addition, newspapers and other main stream media houses are using Twitter, Facebook, and other social media services to promote content and comment their own news stories. Howeverm only few are using these tools and services to truly engage their readers, listeners and staff. The future of media is about a comprehensive redign of the way most media outlets interact with the audience. MEdia houses' transformation into the digital age will be a two-way street where consumers (end-users) engagement plays a vital role.
This is quite untapped market at the moment and media industry is looking for new solutions and technologies for their clients. Therefore this opens up new and lucrative opportunities for Finnish technology and solution providers.
Goal and strategic compliance
Project’s goal and its compatibility with the National innovation strategy and with the strategic objectives of FinNode partners, OSKEs, SHOKs etc.
The goal is to map the ‘US Media Markets’ ecosystem, mechanisms and the market opportunities. Finland has not been strong in ‘Digital Media Markets' but here could be new unexplored opportunities for the Finnish mobile and Internet/Digital Media companies (technologies, solutions). Very important for the National Innovation Strategy, Tekes (Media Activation/OHME, Mobile Consumer Applications, Digital Productization Process), Finpro, VTT, Tivit and OSKEs related software and digital media – and for all the technology and solutions companies in Finland related to mobile/digital media. Market Opportunity Map will point to the direction what measures Finland should take in order to be competitive in this new market opportunity and to provide an understanding of new needs. Also taps into the projects that Finnish Mobile Association is already doing and the projects Teknologia Teollisuus and Tekes in funding around this.
Project manager(Finpro), project manager (Tekes) & team: PM: Pekka Parnanen (Finpro USA Silicon Valley). Team: Juulia Tarma (Finpro USA Silicon Valley), Hartti Suomela (Finpro USA Silicon Valley), Len LaVardera (Finpro USA Stamford), TBD (Tekes)
Finpro: Mika Eriksson and Hanna Marttinen-Deakins, Tekes: Risto Setala, Mari Isbom.
Main tasks, schedule, deliverables (signal session, client seminar, report etc.) and cooperation (with FinNode partners, OSKEs, SHOKs etc.).
Main tasks:
- Who is doing and what, why, when and how? Who are the leaders?
- Define what the ecosystem looks like, what are the business models, what kind of collobaration opportunities exist, what platforms and distribution channels will dominate and when/why?
- What strategic alliances are forming and how will they influence the markets?
- Identify the key players and influencers.
- In-depth interviews of the key players.
- Create a market opportunity map.
Schedule: The project is expected to start in January of 2012 and conclude in December 2012.
Deliverables:
- Build market opportunity map and explain the ecosystems.
- Identify collaboration opportunities for Finnish companies and how it could be applied with the Finnish industries.
- Workshops in Finland (or in the U.S.) including some U.S. market thought leaders sharing ideas with Finnish counterparts. The Workshops can be part of other dissemination events.
- Dissemination through out the project (like Finnish Mobile Association, Mobile Monday, Tivit (SHOK-Next Media), DigiOSKE/JTP, Tempo), Tekes (‘Mobile Consumer Applications’ activation, OHME, Teknologiateollisuus, Tekes, Tempo, Kasvuvayla, Vigos, Finnish VCs (like FinnVera, Teollisuussijoitus, Conor, Vision+, Nexit Ventures etc.) with blogs, media, webinars, presentations, and workshops. Dissemination also through print and electronic media, and directly to gaming, mobile and Internet/Digital Media companies and ecosystem and via Gaselli.
Pekka Pärnänen
Finpro Santa Clara
+1 408 748 7400
pekka.parnanen@finpro.fi
