Poll: Media executives see threat, opportunity in user-generated content

User-generated content is the largest threat-and, perhaps, the biggest potential opportunity-to media and entertainment companies, according to a survey of executives released by Accenture.
The poll of front-office personnel found that more than half the respondents identified amateur digital videos, podcasts, wikis and blogs as one of the top three challenges they face today. Seventy percent said they believe social media will continue to grow, while only 3 percent said they view social media as a fad.
But 68 percent of the executives said they believe their businesses will make money from user-generated content within three years, and 62 percent planned to generate revenue from advertising through social media.
Respondents included CBS chief Leslie Moonves; EMI Music Publishing CEO Roger Faxon; and Doug Neil, the senior vice president of digital marketing for Universal Studios.