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Fewer Studios Working on Music VideosNumber of U.S. studios doing work for music videos drops 4%
In this weekly quick feature, TrendWatch founding partner Jim Whittington offers you interesting factoids based on market research from the broadcast and graphics industries. This week, see how music video production has taken on a diminished role in U.S. studios and facilities in the past year.
Fact: At the beginning of 2003, 19% of all U.S. studios/facilities were doing work for music videos. A year later, at the beginning of 2004, this number dropped to 15%
Why should you care? This may not sound like much, but increasing competition may be one reason for this change. From the beginning of 2003 to the beginning of 2004, more studios doing work for music videos were challenged by freelancers competing with them -- this jumped from 10% to 24% during this period. Similarly, "competition from our clients" went from 23% to 30% last year as a challenge these studios must address. As competition from these sources increased, the number of post production studios doing work for music videos dropped from 28% to 22%, audio recording/ mixing studios dropped from 24% to 20%, and animation/FX studios dropped from 23% to 15%
-- Excerpted from the TrendWatch Visual Effects/Dynamic Media Report -- Issue #4, Winter 2003-2004 and TrendWatch survey databases
These market facts are based on original TrendWatch market research with executives and business owners in the TV/Broadcast and visual effects industries. You can reach the TrendWatch Partners, Jim Whittington and Dr. Joseph Webb via e-mail at [email protected], or visit the company's Web site at www.trendwatch.com.
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