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TrendWatch Fast Fact: Competition Still Business ChallengeSome say their own clients are competing with them
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 studios and facilities are looking over their collective shoulders at the competition.
Fact: Over half (55%) of studios/facilities cite competition as a major challenge they must address in next 12 months.
Why should you care?
As a top business challenge, competition has remained steady over the past several TrendWatch surveys. What has changed, however, is who is competing with studios/facilities today. Increasingly more studio owners say their clients, agencies and other studios are competing with them. As more and more tasks become commoditized by smarter and more sophisticated software, TrendWatch experts look for increased competition from employees and freelancers.
-- Excerpted from the TrendWatch Visual Effects/Dynamic Media Report - Issue #5, Summer 2004 and TrendWatch survey databases.
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