A new study from Ernst & Young reports that, while CFOs are seeing declining revenues from digital and mobile content, they are optimistic about the future. According to the study, revenues have been dropping due to unbundling of the media and lower per-unit pricing. This is forcing CFOs to rethink their revenue strategies and come up with new ways to meet financial objectives. 

The authors of the study cite the increase in demand for digitally delivered entertainment to be the main reason for optimism. Growth in new distribution channels, products and services combined with a global market of almost two billion digital media consumers further fuels their optimistic predictions. 

The CFOs in the study seemed to concur that new developing new strategies in both cost containment and process improvement will be crucial to achieving profitability. Technology was cited as an area of emphasis, with the hope that this could both reduce costs and increase productivity. 

A large majority (66 percent) of executives believe that disruptive models such as ebooks and mobile content will have the greatest impact on the media and entertainment industry over the next few years. It was noted that interactive media companies have both greater margins and higher growth rates than other sectors. 

The study concluded that digital media consumption will continue to grow at a rapid pace, with digital media users reaching 2.2 billion inhabitants worldwide by 2011 - more than double the number from 2007.