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Consumers are increasingly calling the shots in today's converged media environment: They use Apple iPods to make their own music playlists. Personal video recorders allow them to customize television line-ups. Satellite radios pump commercial-free music into their cars. They come together in online communities, generate their own content, mix it, and share it on a growing number of social networks. No longer a captive, mass media audience, today's media consumer is unique, demanding, and engaged.
Content and services are overflowing, while consumer time and attention remains limited. A new approach that helps consumers maximize their limited time and attention to create a rich, personalized, and social media environment is needed. PricewaterhouseCoopers calls this approach Lifestyle Media; it is the combination of a personalized media experience with a social context for participation.
This report analyzes the impact of convergence on the video content, communications, advertising, and audience measurement industries in the Untied States. First, it presents an overview of our key findings about the challenges and opportunities resulting from convergence. Next, it provides recommendations for content owners, advertising agencies, and media measurement companies as to how they can best position themselves for the converged future. The report continues with an examination of the key trends that are driving convergence and disrupting existing business models and practices. It then discusses how changes in consumer activity enabled by technology create new opportunities in the form of Lifestyle Media. It characterizes the Media Marketplace as a structure that can create long-term, sustainable value in a converged media environment. Finally, it provides a road map for companies seeking to engage tomorrow's new media consumer. PricewaterhouseCoopers' goals in this report are to inform and stimulate discussion among industry participants about the ways in which convergence will create and destroy value.
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Read more by downloading our The Rise of Lifestyle Media: Achieving Success in the Digital Convergence Era - Executive Summary (pdf file, 238KB) for your reference.
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