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Old v new may cost billions: IBM has warned of a looming crisis with old and new media on a collision course over how and where content such as TV, news and user-created will be carried, and says billions of dollars in revenue are at risk.
The report, to be released later today in New York, warns that the conflict between traditional and new media is seeing the emergence of a media divide that could erase hundreds of billions of dollars in revenue from the bottom line of the world's leading media companies.
"The current clash between traditional and new media has reached a fevered pitch," says the report, Navigating the Media Divide.
"Industry incumbents are responding - but perhaps not quickly or completely enough. While they are fighting an escalating competitive battle on this front, traditional media cannot ignore the impending division in its own ranks."
Steven Abraham, global industry leader, IBM media and entertainment, said the music industry had already demonstrated the dangers of mismanaging the transition.
"We estimate that the music industry lost between $US88 billion ($114 billion) and $US190 billion in its transition to digital," Mr Abraham said. "Television and film companies will be next if companies don't systematically navigate the media divide. Now is the time to determine changes in business models, innovate and re-evaluate partnerships. Media companies must take action before it is too late."
