MUMBAI: In a report on the future of the global media industry Standard & Poor's Equity Research Services says that traditional media companies will need to develop multiple content distribution platforms to exploit the growth of digital and wireless opportunities, as well as the growth of online advertising in order to grow their businesses.

In the study Emerging Digital Strategies For Branded Entertainment Standard and Poor's Media and Entertainment Equity Analyst, Tuna N. Amobi, explores the intersection of different digital growth strategies for traditional media companies. While in "Old Media and New Media-Friends, Not Foes," Standard & Poor's Internet Software and Services equity analyst Scott Kessler examines how traditional media companies could and should monetise their
content via partnerships with online media firms.

Amobi says, "If traditional media and content companies want to grow their businesses and maintain their relevance in the ever-changing entertainment landscape, they need to quickly devise and systematically execute new media strategies that are highly responsive to the digital entertainment revolution.

"Regardless if it's through acquisition, partnership or organic growth, these companies need to leverage the growth associated with online advertising and video, as well as the various paid content, wireless and video game channels or risk the perils of a continued audience fragmentation across these emerging platforms."

Kessler says, "Given the exciting opportunities and notable challenges constituted by this new Internet age, traditional media companies need to think big, and think differently. They will be best served by partnering with new media companies with specialised assets and competencies, rather than going it alone to monetise their content."