New York - A survey of senior media and entertainment executives has found that user-generated content, on sites like YouTube, MySpace and blogs, is considered one of the biggest threats to their businesses.

More than half (57%) of those surveyed by Accenture cited user-generated content as one of the top three challenges they face; more than two-thirds (70%) see continued growth in social media, compared with just 3% who see it as a fad.

"Technology will continue to alter the distribution landscape, allowing people to access content on their own schedule, wherever they are, in all kinds of ways," said survey participant and CBS chief executive Les Moonves.

"But without compelling content, every new platform is an empty shell. Companies that can combine world-class content with powerful national and local distribution will have the competitive advantage."

Two-thirds of respondents expect to see revenue from user-generated content within three years.

Sixty-two percent see profits coming from ads and sponsorships of social media, while other sources cited included subscriptions (21%) and pay-per-play (18%).

However, 24% said they do not yet know how their businesses will profit from user-generated content.

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http://www.accenture.com