In a rapidly changing media landscape, social media has retained its value to consumers as a source of entertainment, whereas television and movies have lost significant share, according to a study by Edelman.

The Internet has maintained its value to consumers as the second-leading source of entertainment in 2011, whereas TV, despite its dominance, and movies have declined, 11 and 22 percentage points, respectively.

Below, additional findings from the study titled "The Value, Engagement and Trust in the Era of Social Entertainment" by Edelman.

Overall, surveyed consumers say they are deriving roughly 68% less value from the entertainment industry as a whole; only 17% say entertainment sources today provide "very good" or "excellent value."

Social Media Holding its Value

Across various entertainment sources, social media continues to provide very good or excellent value to consumers (37%), whereas movies (18%), cable TV (15%), and satellite TV (14%) have declined from 2010 levels.

Social Networking Has Become Entertainment

More than three in five consumers (57%) say social networking is a form of entertainment, and that level is more prevalent (70%) among those age 18-29.

People are also spending more time with social sites (49%) and Internet sites (56%) for entertainment purposes, whereas fewer consumers are spending more time with TV (26%), movies (24%), and video games (15%).

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Integrated Media

Consumers are interested in additional content that is connected across platforms:

• 52% say they'd like to use a computer to access further entertainment content.
• 29% would like to be able to access such content on their mobile phone.
• 25% would like to use social networks such as Facebook to interact with entertainment.

Other key findings among surveyed consumers:

• 52% say they are spending more time than a year ago with mobile phones to access entertainment, while 53% spent more time with laptops.
• 60% are willing to view or listen to ads to get free entertainment; only 7% are willing to offer personal information to keep content free.
• 88% feel very or somewhat negatively about the move from free to paid entertainment services.

About the data: Findings are from an annual survey of 1,017 consumers age 18-54 in the UK (500) and US (517), conducted by Edelman in February 2011.