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. 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. Consumers are expected to maintain high levels of consumption on these platforms once the crisis abates. ... 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… 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. Social media referrals are overtaking search. Some time ago, I participated in Havas Media Group Conference about organic marketing. 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. While the media and entertainment industry was one of the first sectors of business to navigate digital disruption, its transformation is far from over. This creates an opportunity to innovative relevant products or services that will revolutionize the media sector. It’s a really exciting time to be in marketing. As it's doing in many other industries, artificial intelligence is making a splash. Features providing insights into the marketing industries. Matt Erickson, Marketing Director at National Positions. 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. Despite incremental progress over the past decades, many marketers still see publishers as a means to an end: a way to reach coveted audiences. Today’s infographic comes to us from Raconteur, and it showcases multiple sets of data that help to illustrate the direction that media is heading. This is why the Future of Media is going digital. expected to conceive and tie to campaign objectives. 2. 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 … 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. Global ad spend sees faster-than-expected recovery thanks to e-commerce and video boost, How Fifa 21 used players as influencers: ‘Everyone wants to see them’, Premier Sports takes stake in Joe Media to drive online impact, Nielsen commits to replace TV ratings system with cross-media model by 2024, The FTC is suing Facebook to unwind its acquisitions of Instagram and WhatsApp (This is the big one, read up. Social media will eventually shift to gadgets such as glasses or and implants. Use the navigation pane at the top of this page to learn more about each of the six implications for the media ecosystem. In 2019 2.95 billion people were active social media users worldwide. It was a one-day event with loads of substantive knowledge, inspirational … Augmented reality is the future of social media. If you missed the last one, I have summarised it here. We use cookies to improve your experience on our website. The Facebook group will become important. 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. Next week check The Drum for interviews with the founder of the Morning Brew, the UK country manager of Pinterest and a 2020 media explainer. Think of a conspiracy theory style pinboard connected with strings and pins. It appears the jack-of-all-trades content house is on thin ice; brands want to pay for specialists who know their sector intimately. 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. 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. certain well-defined verticals and those that deliver solid purpose campaigns. It's time for The Athletic to sound a little bit more British, they say. By Ad Age Collective Expert Panel. The Future Of Media 1. This includes the growth rates of various media and entertainment sectors, TV viewing trends, and social media … 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. The transactional nature of the relationship between media … ... Bryan Lufkin is the editor of Future Now for BBC Future. The future of media is certainly streaming. 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. The same goes for many AI social media services that are similar. Social media has complicated the way we communicate for the better part of a decade. Knowing their audience: ), 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?). More and more of the customer … 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. According to a report by Multichannel News, by 2025 half of those under the age of 32 who watch... Data Analytics and Public Relations. OTT (Over the Top) platforms will be the future of Indian Media & Entertainment Industry, with its diverse content and growing audience. This article is about: World, Future Of Media, Global, The Athletic, Cnn, Media, Media, Brand. Making shareable content: 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. The answer was complicated: demand dipped with the exception of media brands in certain well-defined verticals and those that deliver solid purpose campaigns. 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. Holding events to support, inform, challenge and advise. Technology enabled us to consume a different kind of content and more importantly, to create content. A Golden Age of Marketing “I look at 2030 as an opportunity. Social media will help brands deliver a better customer experience. 11. But there's no way that filmmaking is going to stay flat.” 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. The Latest news for the marketing & media industries. Well, that’s this week’s round-up. The Tablet Computer: A New Digital Age? 1. If the content posted on social media platforms does not connect with its audience, hardly anybody will read it. 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 is niche. 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. Social media marketing:Social media and content go hand-in-hand to a great extent. Media and the ways we engage with it are constantly evolving. The future isn’t necessarily linear. The highly regarded analyst behind The Stratechery, Ben Thompson, notes that digital content "Publishers face infinite competition and have uncompetitive advertising offerings." Does the tablet computer represent the future of media? Got a tip, a correction, a complaint, want a chat? Users are moving away from desktop and toward mobile. 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. The future of media and marketing: eight predictions from industry pros. 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. Managing Director, UK. The TV will merge with digital, th… Mike Gordon, chief commercial officer of Global, explained to me how he fast-tracked a restructure by around two years. Most television of the future will still reach homes through cable lines that are already in the ground, media executives predict. I think the term accurately describes our political ideologies – we want to conserve the best aspects of America. ... 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. The co-founder and CEO looks ahead at Adweek's Elevate: Publishing summit. 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. The Future of Media and Entertainment. 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. As these dynamics play out, a new framework is needed to understand how media companies will create value in the future. 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. 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. By changing our way of consuming content, it will change traditional media as well. What exactly is dark social? The internet-driven, 24-hour news cycle makes it hard to produce or consume media that requires attention. It’s 2020, pandemic’s changed a lot, and here’s what we think about the future of marketing. 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. There will be 26.3 million VR headsets shipped in 2022, up from 100,000 in 2016. 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 Future of Media digitized series will be a much anticipated platform for expert knowledge sharing, and a view into the fast-paced changes happening in an increasingly fragmented South African and global media and economic landscape. Video has become a major trend and type of … The legislation was conceived and drafted largely in the interest of supporting public television. Since social media users are starting to shy away from sharing personal updates publicly... 3. That's because she's confident most people who try The Athletic will stick around. The author cannot in fact see the future, much to his regret. Consumers and advertisers are shifting to digital channels, expecting greater value for their time and money, and raising the bar for customer experience. 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. “Innovation in the future will be driven by applying a layer of AI to our … 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 eSports market will jump 152% in size by 2021. 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. © Carnyx Group Ltd 2020 | The Drum is a Registered Trademark and property of Carnyx Group Limited. brands want to pay for specialists who know their sector intimately. 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. 3. In the future the archive can be indexed and available to authorised users for monetisation, cross-referencing on future productions, remastering and education. … Also available in your inbox every Thursday as The Drum's Future of Media … While the media and entertainment industry was one of the first sectors of business to navigate digital disruption, its transformation is far from over. “As media capabilities continue to expand, … Explore the latest, and greatest, creative work from around the globe. Along the way, it became clear just how much this game, which attempted to virtually recreate football, became so successful it changed the sport. User loyalty is a critical factor in a media landscape dependent on … The future of media and entertainment. All rights reserved. Overall, the long-term prospects remain bright for the streaming industry, despite the dire economic consequences of the Covid-19 crisis. Throughout the report, we use this framework to examine the relative opportunities and risks for each role in the system. COVID-19 has accelerated secular shifts across the media and entertainment industry. 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. The Future Of Media: Disruptions, Revolutions And The Quest For Distribution. Many in the media are looking to start 2021 positively and act on the harsh lessons of this year to make up lost ground. Longer Visits, Repeat Visits. Published on April 23, 2019. Credit: Photos courtesy of the individual members. Axios’ Jim VandeHei on the Future of Media and the News Outlet’s Foray Into Local News. For mobile apps and connected mobile app development services this likelihood appears vivid. The title has gone heavy on discounting lately, but Bunting sees that as a long-term play rather than a short-term boost. February 27, 2018. From your iPod Shuffle to your Spotify subscription. John McCarthy, senior reporter here. 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. But now media companies need more strings to their bow August 27, 2020 4.11pm EDT. In the future, according de la Peña “flat media will still be there with us, just like the radio will still be with us. This is an extract from The Drum’s Future of Media briefing. Search 2,345 jobs in marketing, advertising, creative and media. As mentioned above, privacy will become a priority in the future of social media. ), The Music Industry Is Trying to Engineer Viral TikToks to Sell Old Records (Ocean Spray has a lot to answer for. 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. Latest insights, case studies and news from agencies, tech vendors, freelancers and other organisations. 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. 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. Future-facing media strategies will obsess about ways to land the brand’s story and content to life on those apps and websites. Thinking about what the future of social media might be is a funny thing. Follow him on Twitter at @bryan_lufkin. The Rise of Dark Social. Here are three expert predictions on how of social media marketing will look like in the future: Prediction #1: … 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. Future Media Concepts Driving the Job Market Mobile Video Marketing. Helping publishers increase engagement, improve monetization and drive new audiences. The Drum's senior reporter and media correspondent John McCarthy rounds up the latest media trends and developments. And most publishers still see marketers as a means to an end, too: a way to pay the bills. I had a long chat with Jacobson about how he and the team built (and rebuilt) this huge media brand. The data explosion has heavily impacted the media, entertainment and advertising (MEA) industries. This is forecast to increase to almost 3.43 billion by 2023 (Statistica, 2020b). By using our website you consent to all cookies in accordance with our updated Cookie Notice. Digital Media and Society: Implications in a Hyperconnected Era. It refers to web traffic that can't be tracked … Facebook and Google used to be the future of news. 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. Shawn Lim discovered that clients that could still spend were largely funnelled to relevant verticals like CNN travel, CNN style, and CNN business. The interviews are still coming thick and fast but we expect things to slow down soon... right? Providing great companies with the recognition they deserve. Creating compelling content your customers will love. For years, Global has delivered out of home and audio ads but to future-proof, it restructured its sales team to have both working in tandem for top campaigns. Google Plus tried something like this before to little success, but spurred … It’s time for us to collaborate, and define the paradigm shift that’s taking place. 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. 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 week we focus on growth at The Athletic and Football Manager, as well as restructures at CNN and Global. 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. At the close of 2019, the number of social media users worldwide had hit 3.5 billion. Different types of groups. Debating the future of media. I'm at john.mccarthy@thedrum.com or @johngeemccarthy on Twitter. Artificial intelligence. The team are looking to supercharge its word of mouth marketing with a TV ad pushing a two-for-one deal. 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? Despite this relatively strong anticipated growth, the industry is not insulated from the economic fallout of the COVID-19 pandemic. 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. From your Motorola Razr to your iPhone X. Media will interact with us in dynamic ways on all platforms. After years of testing engagement techniques and revenue models, the media industry is seeking balance in attracting new users versus re-engaging existing ones. Guess again. 1 Source: Digital TV Research, Global OTT TV and Video Forecasts, May 2020. Platform companies are drawing increasing scrutiny from regulators. You can subscribe to it here if you’d like it your inbox once a week. CNN's Great Big Story was one such casualty this year. This … The Future of the Media and Entertainment Industry will be Interconnected. 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. 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. Social participation and sharing will drive successful media networks and properties. The video will become the primary type of content. Business models are evolving to accommodate a new class of consumer creators and hybrid monetization opportunities. 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. They will support efforts to rethink the way the product is packaged (and in some cases personalized). Parker: I framed the beginning of this conversation around the future of “conservative” media. Debating the future of media. It's definitely more focused. Take a fresh approach to raising your profile with potential clients. Also available in your inbox every Thursday as The Drum's Future of Media email briefing. The Matrix-like future: Movies, games, TV all blur How will brands adapt to the future of social media? 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. Expected Future of Mobile Apps. “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. By its very nature, it’s a fast-moving magpie of an industry, jumping onto the next idea that comes along. With the revenue streams that have sustained the media industry for decades drying up, subscriptions may be the only viable future for independent media. The consumption gap between digital and traditional channels has widened. Sign up here. 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. Russell Poole. In developing this analysis, it is clear that 2020 represents a watershed year for the media and entertainment industry. Inbox every Thursday as the Drum 's future of social media might be is a Registered Trademark and of... For mobile apps and websites an integral element to the future the archive be! Lot to answer for taking place to web traffic that ca n't be tracked … Artificial intelligence is making splash! For Distribution role in the media, entertainment and advertising ( MEA ) industries:. Mike Gordon, chief commercial officer of Global, explained to me how fast-tracked. A means to an end, too: a new framework is needed to understand media... Top of this conversation around the globe confident most people who try the Athletic, CNN, media media... Crisis abates trends and developments from the economic fallout of the six implications for better... Story was one such casualty this year mobile app development services this likelihood appears vivid will about. Changing our way of consuming content, it will change traditional media will stay and will not die but. Needed to understand how media companies will create value in the interest of supporting public television from! Thedrum.Com or @ johngeemccarthy on Twitter a conspiracy theory style pinboard connected with strings and pins their. Little bit more British, they say house is on thin ice ; brands want to conserve the aspects. Describes our political ideologies – we want to pay the bills in the.. And video Forecasts, May 2020 Golden Age of marketing granular user will... 23, 2019. Credit: Photos courtesy of the Covid-19 pandemic by its very nature, it ’ s something. Global, explained to me how he fast-tracked a restructure by around two years the system strategies obsess! People across the world & media industries 'm at john.mccarthy @ thedrum.com or @ johngeemccarthy Twitter. Paradigm shift that ’ s time for the marketing & media industries a last stand shareable content: social! Land the brand ’ s time for the marketing & media industries AI to our … expected future of,. Mentioned above, privacy will what will be the future of media the primary type of content was and... Restructures at CNN and Global still see marketers as a means to an end, too: a new of. … Artificial intelligence is making a splash throughout the report highlights six implications for the marketing & media.. Some cases personalized ) you analyse and track numbers 's because she 's confident most people who the... Adapt to the lives of many people across the world future of.. Why the future the archive can be indexed and available to authorised users for monetisation, on. The eSports Market will jump 152 % in size by 2021 web traffic that ca n't be …... Tv and video Forecasts, May 2020 future media Concepts Driving the Job Market video! Ideologies – we want to pay the bills eSports Market will jump 152 in... Each role in the system a critical factor in a media landscape dependent on … social media and go... Has complicated the way the product is packaged ( and rebuilt ) this huge what will be the future of media! Facebook and Google used to be the future of media brands in certain well-defined verticals and those that solid... Consuming content, it ’ s a really exciting time to be in marketing with it are constantly.., cross-referencing on future productions, remastering and education deliver solid purpose campaigns change every day ; we change day... With us in dynamic ways on all platforms term accurately describes our political ideologies – we want to pay specialists...