Australia’s Internet & Cultural Boom
As it stands, the internet offers considerable opportunity for Australia in terms of economics and cultural opportunities. The media sector is a catalyst for growth via the internet and it is improving the available choices to consumers and allowing new creators and producers to access thousands of people through the internet. The most heartening fact of all though is that Australians want to watch Australian content and the world seems to be watching Australian content too.
The expected growth ($ value) of the Australian media and content industry is projected to rise to approx. $29.1 billion by 2015, up from $24.8 billion generated in 2011. Of this revenue, only 7% is generated by online media. Although this seems small, the online sector is responsible for a significant share in the growth of the Australian media and content industry, generating 40% of total growth from 2007 – 2011. This figure is set to increase by more than 50% by 2015. Further to this, media consumption inAustraliais rising, with Australians spending 21.7 hours per week accessing the Internet.
Many sectors of the Australian media have seen growth from the internet including books, games, movies and radio. On top of this, online media has driven up the income from news, current affairs and education by 10% since 2007.
Due to its increasing accessibility, the internet is helping to drive cultural change inAustralia. It is achieving this by making niche content readily available and providing access to remote communities to enable them to participate in the economy more actively. The saying goes “have laptop, will travel”. The boundaries are being broken in terms of who can create and upload content online and Australians are loving it.
“Australians like the greater choice and convenience of Internet content, and they cherish Australian content in particular.” .
The biggest contributors of internet media content in Australia are BigPond, iTunes and YouTube. These platforms are delivering a nationwide benefit value of more than $9 billion per year. It’s all about choice; consumers are migrating to online platforms that enable them to choose what they wish to digest and allows producers to reach local, national and global audiences without huge cost.
If the above wasn’t enough to get you excited about getting online and promoting your business, this last piece of information should do it. “Australiahas a trade surplus in online video, exporting more than it imports.” A staggering amount (twice as much) of Australian online video is viewed by the US market, compared with what is consumed here in Australia by Australians.
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