Social networking and e-commerce are two of the big winners that will emerge as the digital media revolution cranks up, a new study from international researcher BuddeComm said.
According to the BuddeComm report, individuals will be responsible for more than three-quarters of broadband content in the future, as teenagers, families and like-minded groups sharing personal information, swapping photos, posting blogs and video blogs and socializing in virtual worlds.
A burgeoning number of international and national new media companies have built their business models around social networking services.
At a global level, MySpace, Flickr, YouTube and Revver are just a few of the high-profile sites playing a vital role in driving user-generated content.
The telecoms, media and IT industries are jockeying to take the lead in a new era of digital media. This is fast shifting the focus towards innovative content and applications as well as new business models and marketing strategies and away from old media and the traditional ways of doing business.
The report said personal blogs will pass 60 million this year.
The personal video clip or video blog, the reports also states, will merely become part of the overall programming mix available through broadband-based web television, which will become a one-stop shop for all content.
And expect to see people produce an increasing amount of content for more local communities, particularly where English isn't the first language, and not just for global online spaces such as MySpace, YouTube, Yahoo and Google, the report further said