EuraMedia Summit 2012
|Event Date/Time: May 25, 2012||End Date/Time: May 27, 2012|
|Registration Date: May 10, 2012|
|Early Registration Date: Mar 01, 2012|
During the last 10 years, Russia has demonstrated stable and mostly positive growth rates. Many Russian industries recovered from the 2008 crisis faster than the global average, and in 2010, the Russian media sector outperformed even optimistic growth predictions. Indeed, it is one the fastest expanding media markets in the world, growing at nearly a 10 percent faster rate than its European neighbor, generally broadcasting higher quality programming for its finicky and diverse viewership spanning 8 time zones. Price Waterhouse Coopers predicts that this year, the Russian advertising market, worth 6.1 billion, will overtake Germany and the UK as EMEAâ€™s largest advertising market and, by 2015, will be the fifth largest in the world, behind only the US, China, Brazil and Japan.
But, It is not only traditional media that is booming. Russians spend 100 percent more time on the Internet than any other nation in the world, and on-line spending has grown nearly 40 percent over the last year alone. Major US brands, including Facebook, Twitter, Google, FourSquared, and Groupon have rushed to Russify and enter the market, That said, Internet penetration in the market is still relatively low, around 50 percent, and market share in all niches in still readily available. For this reason, we have seen a recent drastic rise in investors, bogged down by global recession, in general, and the increasing instability of the Russian commodities and real estate markets, try and re-orient themselves quickly towards social media, on-line retail, and IT technologies. M.I.T. has joined over 200 companies in promoting the Skolkovo initiative, meant to encourage innovation and entrepreneurship in Russia.
The continued high barriers to entry and a sense of lingering anxiety and remoteness to middle-market players who, statistically, should be gravitating towards it instead of vying for expansion into traditional European destinations, has decreased potential revenues derived from technology in the Russian economy. However, the lack of an entrepreneurial culture which encourages innovation, as well as communication lapses both amongst generations within the country and, more so, these innovators and Western investors, even those without Russia-specific experience, has likely served as the chief impediment in developing, for the industry, an infrastructure to sustain the countryâ€™s economy and conversely promote small and medium-sized business. IDEA Consulting Inc. is of the opinion that it is not â€˜â€™modernizationâ€™â€™ or â€˜â€™technologyâ€™â€™ that, in and of themselves, can and will create financial growth. The way in which new media technologies and on-line retail operations, in particular, interact with the brick-and-mortar retail and service industries creates a plethora of new incentives and avenues of development for small and medium size Russian businesses of all varieties formerly limited intensely by corruption and monopolization.
The countryâ€™s tech and media industries of course warrant a top-tier international convention, and this convention will soon take place. Day one will be dedicated to on-line retail and application development, day two to social media, new technologies, and how the two have transformed content buying and selling, and day three will feature an exhibition of the countryâ€™s most startlingly inspiring new technologies, ranging the gap from Web properties to applications to IT and even biotech and energy technologies which relate back to the subject of the conference. IDEA Consulting Inc. is working closely with several national and international marketing specialists and young industry luminaries to create a series of preliminary contests that will determine which Russian media and tech companies will be packaged by IDEA Consulting Inc. for intimate introduction to investors and marketed for regional and international expansion.