Digital Economy USRG

The Big Digital Debate (Google Central Saint Giles)

October 16, 2011
by Graeme Earl

The internet has changed the economy – and our lives – for good. Over the last decade the internet economy has been a key driver of growth and jobs. Today, Britain leads the world on ecommerce, spending more and exporting more than anyone else. By 2015, the internet economy is forecast to rise to 10% of UK GDP.

But while the internet economy is a powerhouse of growth for the UK, creative industries, from film-makers to newspapers, are under more pressure than ever before to make the web pay for their content.

The result is an explosion of innovation in high-quality online content. Great content is being delivered in new ways through platforms like Netflix or iTunes to new fast-growing formats like Kindle or tablets. But what are the models of innovation that will help high-quality providers grow?

Different players are betting on different models: advertising-driven, or subscription-based. But can either approach succeed?

And consumer demands are changing too – with news becoming quicker, faster and fewer than 140 characters. And with the bulk of the world’s online videos just a few minutes long how will what we think of as high-quality content evolve in the future?

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