The Content factor

 

Each industry faced its own challenges and digital disruption in 2020.

The content industry also had its good, bad and ugly curated contents.

The curated content industry and media industry have a long history of relying on mass channels and traditional thinking about value creation for consumers. 

Industry business models have focused on mass advertising and command- and control instead of fundamentally connecting to people.

When media business did focus on innovation, it was within the boundaries of past success.

New technology advances, however hard it tries to change the mindset, the adoption factor has not been very forthcoming by the industry players.

Even though the power has shifted towards the consumer while new entrants nudged their paths and built new parallel roads with traditional players.

Many companies still haven’t redefined the relationship with their customers by using new media and entertainment.

In emerging markets people are even more bombarded with ads and digital content they don’t care about.

According to a report from GlobalWebIndex on ad-blocking people search for a human connection and not ads, which intrude on their valuable time. 

Ad-blockers remain popular as people look for honest meaningful content.

 

With new technology for making curated content, the digital world merges with the physical world.

The challenge for media and entertainment industry would be to combine the best of both contents and merged to create a new reality called Immersive, Interactive, Blended World.

 

For example: Advertising could become increasingly customer centric when sensors provide the data needed to react to conscious and unconscious emotions about brands, products and services. 

But even as this leads to better usage of media and technology, it could also result in a world where free will is threatened.

Looking for interconnected world:

The new world will welcome stories beyond borders and seamlessly interact with our surroundings.

Example: In the new future, fans will not only watch games and entertainment; 

games and shows will watch them back. 

Athletes will wear sensor-embedded equipment’s and clothes that stream data to fans. 

As consumers react and respond to the world around them, it will provide the media and entertainment industry with valuable and actionable insights. 

Content providers will adapt their content to devices and smart objects surrounding the consumer.

The world around us will become a part of our media experiences and content channels.

Something like a combination of movies like Minority report and Tom Hank’s movie The Circle.

It will be an extension of the media and entertainment ecosystem, shifting from owned devices to sensors and external screens.

Bundled technologies will also create new platforms based on interfaces like gestures and voice. 

This will introduce opportunities for storytelling and marketing.

The digitization apocalypse has completely changed the way we consume , connect and communicate.

It has given the entertainment world unprecedented opportunities to enhance its goods and services. 

Media has changed from single-channel message to multi-channel experience, where content delivery is no longer linear but consists of simultaneously shared opinions and comments. Where companies once needed to advertise to the general public to get attention, the biggest and smart players today excel at curating content and facilitating dialog.

Anticipated data traffic assumption by PWC is that 

data traffic levels will reach 397.8 trillion mega-bytes in 2022.

Smart World will consist of smart devices and people using them wisely.

A challenge today is getting a better understanding of the audiences in a non-intrusive way with the goal of meeting the personal needs and wishes of consumers.

So in an ideal world, of relevant content- Content will reach individuals where and when they want it and adapt to their context.