The entertainment biz will remember 2008 as the year when global revenues from digital media exceeded revenue generated by movie theaters and homevideo combined. In its "Global Media & Entertainment Market Forecast, 2004 - 2012," London research firm Strategy Analytics reported that online and mobile channels accounted for $90 billion in worldwide revenues; the global filmed entertainment market generated $83.1 billion.
"We're starting to see now that digital media is becoming a significant part of revenue for a lot of companies," says Strategy Analytics director of digital media research Martin Olausson. "A few years back, everyone was still discussing whether movies would be distributed online. That's not a discussion anymore."