Upheaval in media and advertising but new opportunities too: Mumbrella360

In the next few months there shouldn't be too many major forces that affect business and force them to cut back on advertising. Justin Fabo

Sydney is the surprise. It has under performed for a decade. It's a non mining economy and it is turning around, the construction sector which is a strong driver of growth is booming in Sydney with strong flow on affects. Part of this is catch up. Sydney and NSW are great news. Justin Fabo

There is a very significant shift in marketing budgets from paid to owned channels. This is a very important shift that creates a huge challenge. At present the majority of spend is going on paid media. But four out of five marketers are saying they are spending more on channels creating content. How do media companies take core skills such as curation of content and do it for clients’ channels? Nova for example is doing this for Coles and shifting content to the client’s channel. Megan Brownlow

When we do our advertising and media survey this year we will have to capture marketing expenditure across more channels. The first big change is earned media, the second big change is expenditure on data and analytical. We will have to measure that. Megan Brownlow

As confidence comes back things won't go back to where they were for advertisers and marketers. Matt Melhuish

Without question great content creators have a lot of channels to reach people. There is a plethora of content needs and at the heart of it is the mix of people able to provide it at the right price and the right quality. We still need that. Matt Melhuish

Regarding Fairfax and News, we are seeing massive forces pushing. But we are also seeing innovation in revenue streams and new business models. The Australian media businesses have finally worked out how to get into consumer wallets by using their magnificent brands and leveraging them in events. For example Fairfax is building out their team for events and conferences which is a logical strategy. Partnering with media companies is still powerful. Are they moving as fast as they should? We can't tell yet. But it's exciting. Megan Brownlow

There are so many conversations about who is going to win this great disruption. Google versus Facebook: who is going to win? Match tech with healthcare and what innovations will it bring? I had this conversation the other day and this guy was trashing Facebook and saying Google will win because of data. When I started in my career everything was fixed and it is far more dynamic so more risk but also more opportunity. Matt Melhuish

Marketing and communications are an interface between many different worlds, between business and community, but you have to have a very fluid approach. You think it's all sunny and then you get hit by a truck. Matt Melhuish

We are a sleepy island at the bottom of the world. I worry about my kids not having the mongrel in them. If we do business the way we do sport we would do a whole lot better. Matt Melhuish

Emerging and advanced economy inequality has increased and the US is a cracking example of this. I am optimistic except on inequality - and it is a big one. An increase of divergence in standards of living bites you on the bum and people won't put up with it. Justin Fabo

In Australia we have become better off overall so we are not facing the same inequity forces of other countries although the mining sector growth has been huge and the benefits have gone to a small number of people. Justin Fabo

There is a growing digital divide around internet access with those under $50,000 are far less likely to have internet at home. Megan Brownlow

To get a sense of what things will be like you have to ignore the last 20 years and think of the time before. Justin Fabo

Setting a budget in an uncertain environment? It's hard. People hate uncertainty so the risk is we get stuck in this period where people have a gut full of bad news. We saw a bounce in confidence but it is a dead cat bounce and the risk is it won't come back. Justin Fabo

We have been lucky: Rising house prices and the wealth affect have supported consumer confidence. House prices are not falling but we are not going to get growth, so we’re not going to get the tail wind from property prices helping consumer confidence. Justin Fabo

Justin Fabo, ANZ Senior Economist Corporate & Commercial.

Megan Brownlow, Executive Director PWC and Editor Australian Entertainment and Media Outlook.

Matt Melhuish, CEO ENERO Group, a Marketing Services Company listed on ASX.