BackA new wave of digital formats
A Bain and Co. study claims that a third wave of media formats and business models is taking centrestage
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Management consulting firm Bain and Co.’s global study titled Generation #hashtag: A new wave of content for the age of Digital Natives claims that a third wave of media formats and business models is taking the centrestage. It includes unbundled, long and short-form content streamed at will and monetized through subscriptions, micro-transactions and advertising solutions. The survey covers nearly 7,000 consumers across 10 countries and pegs digital penetration of video, music, and games in India at just under 40%, the lowest of all emerging markets surveyed (China, Russia, South Africa and Brazil). Generation #hashtag refers to digital natives—those who are too young to remember life before the Internet—and digital migrants—those over 25, who embrace digital media as their primary source for content. Dunigan O’Keeffe, Bain’s Mumbai-based Asia Pacific strategy head and senior partner in the telecom practice, argues that while this third wave of media has shed its analog legacy, new challenges have emerged around monetization and meeting growing demand from emerging markets that are poised to leapfrog traditional media models.
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