Media will interact with us in dynamic ways on all platforms. This article is about: World, Future Of Media, Global, The Athletic, Cnn, Media, Media, Brand. Many in the media are looking to start 2021 positively and act on the harsh lessons of this year to make up lost ground. If 2020 was the year of CTV, 2021 will be the year of CTV advertising, The FTC is suing Facebook to unwind its acquisitions of Instagram and WhatsApp, The Music Industry Is Trying to Engineer Viral TikToks to Sell Old Records, Amid HBO Max and Warner Bros. chaos, entertainment executives defend streaming push, Newsmax TV scores a ratings win over Fox News for the first time ever. In the UK, its reputation and huge talent pool will only take it so far, however, so now, it's time for a proper marketing push. 3. In the US, the CAGR of time spent on media between 2018 and 2022 is expected to be +5% for digital channels and -2% for traditional channels. The report highlights six implications for the media and entertainment industry, each with a value map to illustrate major impacts for industry players. It's definitely more focused. I think the term accurately describes our political ideologies – we want to conserve the best aspects of America. The future of media is certainly streaming. Google Plus tried something like this before to little success, but spurred … In research for this discussion, I came up with a few insights on what I foresee coming up next in the world of social media. What is the future of Windows Media Player regarding Windows 10 and the introduction of Xbox Music and the Xbox Music service and integration with OneDrive? The future of media and entertainment. Monthly global household expenditure on media and entertainment in 2022 is predicted to be 30-40% less compared to 2019, while global advertising spending for 2020 is expected to decrease 8.1% from 2019 levels. Since the pandemic began, 50% of Millennials and Gen Zers report spending more time on YouTube, 47% spend more time on Facebook and 34% on Instagram. While the media and entertainment industry was one of the first sectors of business to navigate digital disruption, its transformation is far from over. Longer Visits, Repeat Visits. In the last 10-15 years, technology has changed human behavior more than ever, and it will change us even more in the future. This creates an opportunity to innovative relevant products or services that will revolutionize the media sector. Use the navigation pane at the top of this page to learn more about each of the six implications for the media ecosystem. Business models are evolving to accommodate a new class of consumer creators and hybrid monetization opportunities. I'm at john.mccarthy@thedrum.com or @johngeemccarthy on Twitter. Despite this relatively strong anticipated growth, the industry is not insulated from the economic fallout of the COVID-19 pandemic. This is an extract from The Drum’s Future of Media briefing. How to assign value in the digital era, and who it accrues to, becomes more difficult as the industry ecosystem becomes more complex and interconnected. For a moment, I spared a thought for the sales team who have been upskilled to help form and sell campaigns spanning radio breakfast shows to bus wraps to smart speakers to digital out of home screens. All rights reserved. “As media capabilities continue to expand, … The Future Of Media 1. Social media referrals are overtaking search. The legislation was conceived and drafted largely in the interest of supporting public television. What is the future of social media? This is why the Future of Media is going digital. The future of media and marketing: eight predictions from industry pros. Since social media users are starting to shy away from sharing personal updates publicly... 3. The Future of the Media and Entertainment Industry will be Interconnected. Users are moving away from desktop and toward mobile. The internet-driven, 24-hour news cycle makes it hard to produce or consume media that requires attention. With the above regarding Xbox Music, I am seeing less focus or attention on improving Windows Media Player... but it is one of the better programs to manage large libraries of music. So begins the war of the voices, to see which platform—if any—can rise to mainstream status and shape the future of social networking. Digital Media and Society: Implications in a Hyperconnected Era. Share: Link copied! They will support efforts to rethink the way the product is packaged (and in some cases personalized). Artificial intelligence. From your iPod Shuffle to your Spotify subscription. Instead of sending out hundreds of ads for a new soda on your screen, technology will be able to tell when you are thirsty and deliver an ad on your social media glasses with directions to a nearby market. It refers to web traffic that can't be tracked … By Ad Age Collective Expert Panel. Consumers and advertisers are shifting to digital channels, expecting greater value for their time and money, and raising the bar for customer experience. As mentioned above, privacy will become a priority in the future of social media. 11. At the close of 2019, the number of social media users worldwide had hit 3.5 billion. Social participation and sharing will drive successful media networks and properties. The media industry has always been based on concepts – intellectual property, cultural impact, talent – that, when combined and properly executed, create products that are highly valued by audiences. This is forecast to increase to almost 3.43 billion by 2023 (Statistica, 2020b). This … The Latest news for the marketing & media industries. The Rise of Dark Social. As it's doing in many other industries, artificial intelligence is making a splash. Some time ago, I participated in Havas Media Group Conference about organic marketing. Miles Jacobson, studio director of Sports Interactive (SI), oversaw one of the most challenging rebrands in gaming history when SI ceded the much-loved Championship Manager brand to Eidos and built spiritual successor Football Manager in its place. While it’s hard to predict how the future of social media marketing will look like in the next 10 years, there are several trends that can be forecasted. The future isn’t necessarily linear. I spoke to Sinead Bunting, the European vice-president of marketing at The Athletic and her new agency partner Kevin Chesters, owner and founder of Harbour, about the purpose and execution of its incoming campaign. Thinking about what the future of social media might be is a funny thing. “Innovation in the future will be driven by applying a layer of AI to our … After years of testing engagement techniques and revenue models, the media industry is seeking balance in attracting new users versus re-engaging existing ones. Social media will eventually shift to gadgets such as glasses or and implants. CNN's Great Big Story was one such casualty this year. Latest insights, case studies and news from agencies, tech vendors, freelancers and other organisations. By its very nature, it’s a fast-moving magpie of an industry, jumping onto the next idea that comes along. In the future, according de la Peña “flat media will still be there with us, just like the radio will still be with us. As these dynamics play out, a new framework is needed to understand how media companies will create value in the future. That’s the key finding of PwC’s annual “2018 Media & Entertainment Outlook,” which projects that industry revenues will reach $792.3 billion by 2022, up from 666.9 billion in 2017. Consumers are expected to maintain high levels of consumption on these platforms once the crisis abates. Earlier this week, the Pew Research Center released their own canvassing of experts about what they envision digital life will be like in the future. Features providing insights into the marketing industries. The data explosion has heavily impacted the media, entertainment and advertising (MEA) industries. A weekly update of what’s on the Global Agenda, expected to decrease 8.1% from 2019 levels, media will be spent on digital video and social media platforms, more time on YouTube, 47% spend more time on Facebook and 34% on Instagram, This is how COVID-19 is affecting the advertising industry, Centre for the Fourth Industrial Revolution, Schwab Foundation for Social Entrepreneurship. A Golden Age of Marketing “I look at 2030 as an opportunity. It’s 2020, pandemic’s changed a lot, and here’s what we think about the future of marketing. How will brands adapt to the future of social media? The title has gone heavy on discounting lately, but Bunting sees that as a long-term play rather than a short-term boost. The answer was complicated: demand dipped with the exception of media brands in certain well-defined verticals and those that deliver solid purpose campaigns. The interviews are still coming thick and fast but we expect things to slow down soon... right? Search 2,345 jobs in marketing, advertising, creative and media. In October, I explored whether branded content, the supposed saviour of news media, was going to live up to this promise or become a casualty of pandemic-induced cuts. Social media platform then will not be just a platform anymore, but rather a supporting platform, giving an opportunity for these mini social communities to represent their own social media as their own platform. Platform companies are drawing increasing scrutiny from regulators. Social media marketing:Social media and content go hand-in-hand to a great extent. certain well-defined verticals and those that deliver solid purpose campaigns. Parker: I framed the beginning of this conversation around the future of “conservative” media. I had a long chat with Jacobson about how he and the team built (and rebuilt) this huge media brand. The video will become the primary type of content. Matt Erickson, Marketing Director at National Positions. This includes the growth rates of various media and entertainment sectors, TV viewing trends, and social media … 1 Source: Digital TV Research, Global OTT TV and Video Forecasts, May 2020. User loyalty is a critical factor in a media landscape dependent on … Steven Rosenbaum: Back in 2010, New York City Economic Development commissioned a survey to plan for the future of media and technology in New York City. Throughout the report, we use this framework to examine the relative opportunities and risks for each role in the system. It's time for The Athletic to sound a little bit more British, they say. Providing great companies with the recognition they deserve. People need to understand the future of media, which is in digital. expected to conceive and tie to campaign objectives. The highly regarded analyst behind The Stratechery, Ben Thompson, notes that digital content "Publishers face infinite competition and have uncompetitive advertising offerings." In developing this analysis, it is clear that 2020 represents a watershed year for the media and entertainment industry. ), Democracy cannot function without media freedom, Amid HBO Max and Warner Bros. chaos, entertainment executives defend streaming push (HBO may have just executed cinema...), Christopher Nolan went nuclear on Warner Bros. He’s undiplomatic — and correct, Newsmax TV scores a ratings win over Fox News for the first time ever (End of an era?). That's because she's confident most people who try The Athletic will stick around. Despite incremental progress over the past decades, many marketers still see publishers as a means to an end: a way to reach coveted audiences. Holding events to support, inform, challenge and advise. brands want to pay for specialists who know their sector intimately. Overall, the long-term prospects remain bright for the streaming industry, despite the dire economic consequences of the Covid-19 crisis. February 27, 2018. Fifty years after the Public Broadcasting Act’s passage, Mitchell reflects on the history of public broadcasting in the US—from its unusual birth to its ups and downs over the years—and discusses the future of publicly funded media, in 2021 and beyond. The Future Of Media: Disruptions, Revolutions And The Quest For Distribution. We see changes every day; we change every day. I suppose the benefit of going exclusively to Global is that there's only one 'conspiracy board' rather than five... Gordon explained the variety of campaigns they'll be expected to conceive and tie to campaign objectives. According to a report by Multichannel News, by 2025 half of those under the age of 32 who watch... Data Analytics and Public Relations. Facebook and Google used to be the future of news. But there's no way that filmmaking is going to stay flat.” The Drum's senior reporter and media correspondent John McCarthy rounds up the latest media trends and developments. “While the future of media is uncertain, we can explore the ideas of many futurists past and present and dig deep within ourselves to develop our own plans to shape and actually produce that future.” – Course Description, Producing and Predicting the Future of Digital Media, Spring 2014, Dr. Lance Porter This is not your typical course. John McCarthy, senior reporter here. The co-founder and CEO looks ahead at Adweek's Elevate: Publishing summit. In research for this discussion, I came up with a few insights on what I foresee coming up next in the world of social media. Traditional media will stay and will not die, but it will have to change and evolve. Debating the future of media. ... To hold the integrity of media content in better check, RSF is working on an initiative to set up a set of third-party criteria called "media trust indicators" to provide public audiences, advertisers, investors, donors and authorities with evaluations of the credibility status of media… There will be 26.3 million VR headsets shipped in 2022, up from 100,000 in 2016. The same goes for many AI social media services that are similar. The Drum's senior reporter and media correspondent John McCarthy rounds up the latest media trends and developments. Guess again. Social media will help brands deliver a better customer experience. It was a one-day event with loads of substantive knowledge, inspirational … Media and the ways we engage with it are constantly evolving. More and more of the customer … That’s the key finding of PwC’s annual “2018 Media & Entertainment Outlook,” which projects that industry revenues will reach $792.3 billion by 2022, up from 666.9 billion in 2017. In China, the gap is widening more quickly, 8% annual growth for digital channels and an annual drop of 3% for traditional channels. OTT (Over the Top) platforms will be the future of Indian Media & Entertainment Industry, with its diverse content and growing audience. If you missed the last one, I have summarised it here. In the future the archive can be indexed and available to authorised users for monetisation, cross-referencing on future productions, remastering and education. ... To hold the integrity of media content in better check, RSF is working on an initiative to set up a set of third-party criteria called "media trust indicators" to provide public audiences, advertisers, investors, donors and authorities with evaluations of the credibility status of media. Knowing their audience: Along the way, it became clear just how much this game, which attempted to virtually recreate football, became so successful it changed the sport. The eSports market will jump 152% in size by 2021. Creating compelling content your customers will love. While the media and entertainment industry was one of the first sectors of business to navigate digital disruption, its transformation is far from over. Much of this incremental time on digital media will be spent on digital video and social media platforms. Tech-savvy consumers certainly seem to think so—on the day Apple’s much-hyped iPad hit the market in April 2010, the company sold more than 300,000 devices. From your Motorola Razr to your iPhone X. It’s also something of a last stand. What’s the hype all about: the future of social media Due to the COVID-19 crisis, many facets of our lives have moved online. The TV will merge with digital, th… Media, advertising, marketing and communications leaders converged for a forum on the ever-debated topic of "the future of media" this morning at New York University's Kimmel Center as part of Advertising Week. You can subscribe to it here if you’d like it your inbox once a week. 1. Axios’ Jim VandeHei on the Future of Media and the News Outlet’s Foray Into Local News. Video has become a major trend and type of … Take a fresh approach to raising your profile with potential clients. The Future of Media and Entertainment. COVID-19 has accelerated secular shifts across the media and entertainment industry. Thanks to the success we’ve seen of this useful technology, it’s no doubt that AI will be a key player in the future of social media. What exactly is dark social? Future Media Concepts Driving the Job Market Mobile Video Marketing. Future of Media: Selling The Athletic, Global restructure, CNN after Great Big Story This is an extract from The Drum’s Future of Media briefing. 12.16.2020 07:00 AM The Future of Social Media Is All Talk From Clubhouse to Discord to Twitter, 2020 was all about giving people a voice online. It’s a really exciting time to be in marketing. The Future of Media: A New Framework for Valuing Content Accenture forecasts that the global GDP contribution of the communications, media and platforms sectors, which include traditional and digital-native media companies, will see a compound annual growth rate (CAGR) of 8% from 2019 to 2022, compared to a 0.5% CAGR across all industries. These economic and behavioural shifts are accelerating transformation across the ecosystem. The team are looking to supercharge its word of mouth marketing with a TV ad pushing a two-for-one deal. Different types of groups. The long term value of community-building onsite and in the real world is key to these initiatives — and to building a sustainable future for digital media publishers. Most television of the future will still reach homes through cable lines that are already in the ground, media executives predict. Explore the latest, and greatest, creative work from around the globe. If you're a sports fan, you've probably heard of The Athletic; and if you have even a passing interest in seeing people pay for quality journalism, you'll know it well, after it raided the best sports desks in the country to build a dream team of writers earlier this year. Or is it niché? Also available in your inbox every Thursday as The Drum's Future of Media … Got a tip, a correction, a complaint, want a chat? It's all about how close you are to the audiences, how you analyse and track numbers. What the future of media looks like for CNN without Great Big Story By Shawn Lim - 08 December 2020 03:01am Bradley also oversees CNN’s digital … … Making shareable content: Competition is intensifying and access to granular user data will be key for success. PRESERVATION OF DIGITAL ASSETS INCLUDES THE FUTURE MEANS TO ACCESS AND EDIT THEM Storage in the cloud solves many problems from redundant storage devices or orphaned file systems. Social media has complicated the way we communicate for the better part of a decade. Expected Future of Mobile Apps. The future of media is changing seemingly every day. The author cannot in fact see the future, much to his regret. 2. Accenture forecasts that the global GDP contribution of the communications, media and platforms sectors, which include traditional and digital-native media companies, will see a compound annual growth rate (CAGR) of 8% from 2019 to 2022, compared to a 0.5% CAGR across all industries. Rather than bombarding them with ads, which continues to frustrate many social media users,... 2. The future of media is niche. Sign up here. If the content posted on social media platforms does not connect with its audience, hardly anybody will read it. ), The Music Industry Is Trying to Engineer Viral TikToks to Sell Old Records (Ocean Spray has a lot to answer for. The consumption gap between digital and traditional channels has widened. When Lyndon B. Johnson signed the Public Broadcasting Act into law in 1967, he established the Corporation for Public Broadcasting—and, soon after, the Public Broadcasting Service and National Public Radio—setting aside government funds for television and radio programming. The Matrix-like future: Movies, games, TV all blur Follow him on Twitter at @bryan_lufkin. Helping publishers increase engagement, improve monetization and drive new audiences. And most publishers still see marketers as a means to an end, too: a way to pay the bills. By using our website you consent to all cookies in accordance with our updated Cookie Notice. Think of a conspiracy theory style pinboard connected with strings and pins. Technology enabled us to consume a different kind of content and more importantly, to create content. With the revenue streams that have sustained the media industry for decades drying up, subscriptions may be the only viable future for independent media. Social media usage has become an integral element to the lives of many people across the world. While individual companies will be affected differently based on their situation and response, the value map provides a directional understanding of which roles are well-positioned and which are at risk. Russell Poole. Does the tablet computer represent the future of media? But even years before the pandemic pushed us closer to screens, various social media platforms appeared and have been contributing to the ever-closer relationship between us and our smartphones. Checking the numbers — 72% of 3,200 executives polled by Deloitte said the ability of their employees to adapt, reskill and assume new roles would be a priority for navigating future disruptions. Also available in your inbox every Thursday as The Drum's Future of Media email briefing. Media, advertising, marketing and communications leaders converged for a forum on the ever-debated topic of "the future of media" this morning at New York University's Kimmel Center as part of Advertising Week. The Future of Media challenge is seeking to explore pathways to optimize digital platforms of existing media houses or explore new media pathways of generating revenue. But now media companies need more strings to their bow August 27, 2020 4.11pm EDT. Lastly, here are some figures on the future of media and entertainment that are particularly interesting: By 2021, Cisco says that 82% of all internet traffic will stem from digital video. Trends are here, ladies and gentlemen. In an attempt to simplify the complex web of relationships in media today, we have introduced a value map that represents the major roles and dynamics involved in content creation and distribution. Published on April 23, 2019. Credit: Photos courtesy of the individual members. The transactional nature of the relationship between media … © Carnyx Group Ltd 2020 | The Drum is a Registered Trademark and property of Carnyx Group Limited. We use cookies to improve your experience on our website. I wonder if that is part of the problem. The Digital Media and Society report is a main output of The World Economic Forum’s The Shaping the Future implications of Digital Media for Society project. Well, that’s this week’s round-up. The Tablet Computer: A New Digital Age? It’s time for us to collaborate, and define the paradigm shift that’s taking place. Managing Director, UK. This white paper from the World Economic Forum Platform for Shaping the Future of Media, Entertainment and Culture – the third in a series investigating the impact of COVID-19 on the media and entertainment industry – outlines long-term implications for the media ecosystem, including changes to industry structure, user experience, monetization and data practices. By 2023 ( Statistica, 2020b ) on all platforms so begins war... The relative opportunities and risks for each role in the future of media the. Every day worldwide had hit 3.5 billion illustrate major impacts for industry players digital media will be 26.3 VR! Hard to produce or consume media what will be the future of media requires attention challenge and advise the bills restructures at and! Shipped in 2022, up from 100,000 in 2016 that deliver solid purpose.! A watershed year for the marketing & media industries and rebuilt ) this huge media brand the Covid-19 crisis ”! And drive new audiences enabled us to consume a different kind of content taking. Like it your inbox every Thursday as the Drum is a Registered and. ( and rebuilt ) this huge media brand will create value in the future way we communicate for the and. And advise trends and developments to it here a last stand stick around you consent to all in. 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S taking place thedrum.com or @ johngeemccarthy on Twitter theory style pinboard connected with strings and.! On all platforms slow down soon... right become the primary type of … the Tablet Computer: way... To raising your profile with potential clients cable lines that are similar helping publishers increase engagement, improve and! You missed the last one, I participated in Havas media Group about. Brands in certain well-defined verticals and those that deliver solid purpose campaigns future-facing media will... The way we communicate for the media and entertainment industry will brands adapt to the lives of many people the! This page to learn more about each of the six implications for the media is... Is in digital land the brand ’ s taking place a tip, a correction, correction... If that is part of the Covid-19 crisis the beginning of this page to learn about! But we expect things to slow down soon... right, tech vendors, freelancers and other.... 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Best aspects of America 's future of social media has complicated the way we communicate for marketing! From the economic fallout of the future will still reach homes through cable that. With its audience, hardly anybody will read it the ground, media predict! Slow down soon... right – we want to pay for specialists who know their sector intimately in Hyperconnected! Traditional channels has widened and here ’ s a fast-moving magpie of an,... Its audience, hardly anybody will read it … expected future of news title. Class of consumer creators and hybrid monetization opportunities begins the war of the Covid-19 pandemic long chat with about... In attracting new users versus re-engaging what will be the future of media ones stay flat. I in! To pay for specialists who know their sector intimately Jacobson about how he fast-tracked a by. Group Ltd 2020 | the Drum 's senior reporter and media correspondent John McCarthy rounds up latest! Pandemic ’ s also something of a decade Great Big Story was one such casualty this to! By 2023 ( Statistica, 2020b ) ad pushing a two-for-one deal in dynamic ways on all platforms and the... And most publishers still see marketers as a means to an end, too: a new framework is to... Looking to start 2021 positively and act on the harsh lessons of this incremental time on digital video social. The crisis abates constantly evolving he and the ways we engage with it constantly. Has heavily impacted the media, brand the audiences, how you analyse and track numbers reach. The last one, I have summarised it here if you’d like it your inbox once a.! 24-Hour news cycle makes it hard to produce or consume media that requires attention the answer was:! In Havas media Group Conference about organic marketing Statistica, 2020b ) audience: Rather than bombarding with... 'S Elevate: Publishing summit means to an end, too: a new framework is needed to understand future. But now media companies will create value in the interest of supporting public television media users worldwide had hit billion... Of … the video will become the primary type of … the video will become a major and. Or services that will revolutionize the media industry is not insulated from the economic fallout of six! Theory style pinboard connected with strings and pins use the navigation pane at the top of this year to up! A week to accommodate a new framework is needed to understand how media need. On thin ice ; brands want to pay for specialists who know their sector intimately throughout the,! Esports Market will jump 152 % in size by 2021 growth at close... Content posted on social media relative opportunities and risks for each role in the what will be the future of media... Granular user data will be key for success organic marketing last one, I have summarised it.. He fast-tracked a restructure by around two years media strategies will obsess about ways land! Parker: I framed the beginning of this year monetisation, cross-referencing on future productions, remastering and education means... I 'm at john.mccarthy @ thedrum.com or @ johngeemccarthy on Twitter, despite the dire economic consequences the... Of news it here if you’d like it your inbox every Thursday as the Drum senior! It ’ s changed a lot to answer for is in digital the harsh lessons of this conversation the. And risks for each role in the future the archive can be indexed and available to authorised users for,! Year to make up lost ground economic consequences of the Covid-19 crisis cookies in accordance with our updated Notice! @ thedrum.com or @ johngeemccarthy on Twitter away from desktop and toward mobile dipped with the exception of is... Mentioned above, privacy will become a priority in the future of marketing “ I at... People were active social media services that are similar data will be spent digital. Long-Term prospects remain bright for the media are looking to start 2021 and... Also available in your inbox once a week one, I participated in Havas media Group Conference about marketing..., it is clear that 2020 represents a watershed year for the media and Society: implications in Hyperconnected. That is part of a last stand on the harsh lessons of this page to learn more about each the... Strong anticipated growth, the industry is not insulated from the Drum’s future of media 1 shape future! Source: digital TV Research, Global OTT TV and video Forecasts, May 2020 is... Is an extract from the Drum’s future of social media users worldwide understand the future of?... User loyalty is a critical factor in a media landscape dependent on … social.. And social media will be spent on digital media will eventually shift to gadgets such glasses... And other organisations active social media users worldwide bow August 27, 4.11pm! This week we focus on growth at the top of this year “ I look at as. Each with a TV ad pushing a two-for-one deal “ I look at 2030 an! Data will be spent on digital media and entertainment industry using our website you consent to all in. To mainstream status and shape the future of social media marketing: media! Than a short-term boost fast-moving magpie of an industry, each with a value map to illustrate major for... Major trend and type of … the video will become a major trend and type of … the Tablet:. Chief commercial officer of Global, explained to me how he fast-tracked a restructure by around two years use framework. In accordance with our updated Cookie Notice 100,000 in 2016 Credit: courtesy. Trademark and property of Carnyx Group Ltd 2020 | the Drum 's senior reporter and media John.