As we move toward a shared virtual 3D world that is interactive, immersive, and collaborative, consumers demand secure, personalized experiences across all media. What does this mean for subscription models and advertising in media and technology companies? And how can content be safe and trusted?
"This is the golden age for creative, thanks to the digital revolution." – Brajesh Jha, Global Head of Media, Publishing, and Entertainment, Genpact
The coronavirus crisis has accelerated converging media and technology trends. Pandemic-induced lockdowns increased screen time and forced all industries, including media, to speed up digital transformation as a matter of urgency. This rapid evolution presents exciting opportunities but also challenges. What, then, is the state of content today?
Three trends are defining media and technology's convergence. First, the lines between media and technology companies that have been blurring for years are now gone. Second, expectations for how and where social media companies take responsibility for the content published and/or distributed on their platforms continue to rise. Lastly, there is a tectonic shift in favor of on-demand, personalized digital experiences.
This combination requires business models to adapt quickly for every kind of media business – from search engines and social platforms to news and entertainment companies. And as market forces drive down what platforms can charge for their services and consumers demand better content, monetizing that content is difficult.