RADICAL SHIFT IN MEDIA CONSUMPTION

Ofcom Communications published a report that says, in a nutshell, the most desirable audience (16-24 years olds) is going away from TV.

"Television is of declining interest to many 16-24 year olds; on average they watch television for one hour less per day than the average television viewer. Of the television they do watch, an even smaller proportion of their time is spent viewing public service broadcasting channels, down from 74% of total viewing among this age group in 2001 to 58% today.
Instead, the internet plays a central role in daily life; more than 70% of 16-24 year old internet users use social networking websites (compared to 41% of all UK internet users) and 37% of 18-24 year olds have contributed to a blog or website message board (compared to 14% of all UK internet users).
The same group also uses mobile phones extensively, on average making seven more calls and sending 42 more texts per week than the wider UK population.
Extensive use of the internet has also influenced 15-24 year olds' consumption of other media. Their radio listening is lower, by an average of 15 minutes a day compared to the wider population; additionally, 27% of those surveyed said they read newspapers less as a consequence of their online usage."

This week, I will look at the recent financials from public TV groups. What can they do? What can they do?