Credit: Maarten van den Heuvel via unsplash
The past two years have largely been a boom for media companies because of captive home audiences.
And global consulting firm Forrester says an unstable 2023 is sure to disrupt nearly every platform, publisher and partner.
As the shackles of the pandemic continue to loosen, consumers are rebalancing how and where they spend their time, Forrester said in its 2023 forecast for the media sector.
“Industry Goliaths like Netflix and Meta are showing vulnerability, while CMOs face increasing pressure to prove ROI on every line of their media plans.
“Forrester foresees a year of consolidation ahead for the media industry as market executives prioritize precision at scale.”
The outlook for 2023:
- Streaming services will win live sports and crush cable.
- Streaming will be consolidated as Disney will own Hulu and the Viacom platforms will merge.
- Retailers like Walmart will compete with walled gardens.
- Amazon will face regulatory scrutiny as it transforms into a first-party data company.
- P&G will succumb to advertising pressure, while Amazon will continue to focus on shipping.
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