The iPad won’t be the ‘silver bullet’ traditional news media was hoping for, according to a major new study by analyst firm Ovum.
Despite forecasting a ‘gold-rush effect’ that will see the total value of downloaded applications on the iPad hitting $68.8m this year and $511.8m in 2011*, Ovum believes Apple’s much-hyped tablet device alone will fail to secure the future of news and magazine publishing.
By way of contrast, Ovum has forecast that the global mobile applications market will be worth $5.7 billion by 2014, with total paid downloads of 3.3 billion applications.
Ovum’s research indicates that volumes of the iPad will take time to build. In addition, the tablet media market will soon become as congested as the smartphone app store market.
Adrian Drury, Ovum’s principal media and broadcasting analyst and report co-author, said: “The iPad promise is a set of new distribution channels for packaged media, but it is one device and volumes will take time to build. Traditional publishing’s challenge to find a new and sustainable business model is immediate.”
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