Half of CEOs believe digital will increase their overall revenues and margins by at least 10 per cent within the next three years, according to a study from Ernst & Young – and 79 per cent of those believe that growth will be driven by tablets. 100 per cent believe that mobile devices, including tablets, are the key drivers of growth in content consumption during the next three years.

“CEOs are undeterred about the role digital will play in their futures,” said Ernst & Youngs global media and entertainment leader John Nendick. “There is a heightened optimism from a few years ago, when industry leaders were more tentative about the potential of digital. All of the CEOs we spoke with understand that digital is probably the single most important factor – impacting their ability to grow both revenues and margins.”

76 per cent of CEOs see an apps main objective as existing as part of a bundle of new or enhanced content and services.

The study is based on a survey of 34 CEOs from global media and entertainment companies with combined annual revenues exceeding $300bn (£186bn).