The first conference session of IBC2022 saw IABM CEO Peter White take to the Forum stage to present the company’s 2022 State of the Industry Report.
One of the key trends discussed was supply chain disruption, which, against the backdrop of inflation and scarcity of resources, has caused most companies to turn to stockpiling in persisting difficult times.
“During the pandemic, through high levels of social restrictions, digital consumption has absolutely exploded in terms of viewing figures,” said White. “Viewing habits and trends in this space have changed and, although there’s still a digital dominance, the way that Gen Z views and absorbs content is far different to that of boomers.”
White went on to reveal that 70% of Gen Z said they consume much more user-generated content than they expected to, and 96% are in some way involved in gaming.
“We’ve seen the MediaTech landscape completely changing, with everything now becoming interrelated and working together,” he said. “Gaming is increasingly becoming the epicentre of the media tech universe.”
How streaming is changing
Reflecting on streaming maturity, White observed that the growth experienced by streaming businesses over the past two years has been exceptional, driven by the pandemic and its surrounding circumstances.
“This year, growth has arguably been impacted by inflation, so consumers are reducing their discretionary spending,” he said. “Big streaming businesses such as Disney and Netflix have announced the launch of ad-supported offerings that could appeal to cash-sensitive consumers, which we think is a major driver of change in the industry.”
Overall the outlook was positive, with investment by media businesses expected to improve in line with revenues.
Following the presentation of the report, a panel of executives from the supply-side of the business reflected on key trends identified by the IABM research.
On the continuing demand for cloud technology, Backlight CEO Ben Kaplan said that many of the concerns meeting entertainment companies are related to reliability and security.
“The intellectual property of content producers is their integrity,” he said. “Preserving that is critical for our business, and I think SaaS adoption in general is keeping those concerns central and up front.”
For more show news, including product launches and interviews with key exhibitors, check out our IBC2022 Highlights page.