Deloitte has issued its Predictions 2015 report, detailing three media trends the group expects to take off this year.
Notably, Deloitte Global predicts that print books will continue to dominate the publishing industry and account for 80% of all book sales by dollars and units – even in markets with high digital penetration.
“Print is likely to generate the majority of book sales for the foreseeable future: e-book sales volumes have hit a plateau, or seen decelerating growth,” the group said.
Additionally, the group predicts that short-form video content is unlikely to trump traditional TV, and that younger generations will lead in paying for digital content.
The annual Deloitte Global TMT predictions report provides a 12-18 month outlook on key trends in the technology, media and telecommunications industry worldwide.
Here are Deloitte’s three media predictions for 2015:
Print is not dead, at least for print books
Sales from print books will be five times the sales of eBooks. eBooks have not substituted print books in the same way that sales of CDs, print newspapers and magazines have declined.
Young people (age 18-34) are as attached to print books as their elders and read at about the same rate than older demographics, and they are willing to pay for them.
Short form video: a future, but not the future, of television
The total time spent watching online short-form video clips and other programming of less than 20 minutes in length will represent less than 3 percent of all video seen in the year globally.
Deloitte Global does not expect short-form online content to usurp long-form traditional television.
It is a future, but not the future, of screen-based entertainment; and Deloitte Global predicts it is unlikely ever to be the predominant video format, as measured by hours watched or revenues.
The ‘generation that won’t spend’ is spending on TMT
North American Millennials will lead the way in 2015 and spend an average of $750 per person for content, both traditional and digital.
What are Millennials spending on? Pay TV, music, computer games, books, live sports, streaming video, and even print newspapers.