… Plus, enjoy a FREE 1-year. One of the first examples of AI influence in the media and entertainment industry is TiVo, a cable service that made personalized recommendations based on the user’s watching habits. Just as e-books and webinars are becoming an oversaturated lead magnets because of the opt-in behavior required by the user, I project that the future of digital media will focus on counter-curation… much as in the “old days” of the Internet 1.0, people would collect their own gatherings of media outlets to be put into their personal dashboard as an online magazine of sorts. As companies attempt to secure dominance, technology will prove to be the best weapon in the streaming arsenal, thereby separating the leaders from the pack in the coming year. By changing our way of consuming content, it will change traditional media as well. The future of sports for live fans is contactless. UK-born company Ditto Music recently opened 12 new offices worldwide to serve its flourishing roster, while digital distribution and services company FUGA has signed a deal with London-based Ignition Records, following its expanding partnerships with a multitude of labels, including Epitaph Records and Ultra Records. What is media technology as an academic discipline? to boost advertising revenue in the near future. He also wants to provide new distribution models to remove the middleman by going directly to consumers. Digital Media (MDM): Forge your future in this cutting-edge program based in the DMZ, Canada’s top university business incubator.Project-based experiences and entrepreneurial simulations foster 21st-century leadership through a comprehensive study of business, art, design and technology. Russell Poole. Hero Images | Getty Images. Yet while we can't predict how the industry will evolve, we can make certain predictions based on what has occurred. The media and information are a mutable entity. While total digital revenue accounted for $3.2 billion, or 84% of the total industry value, an impressive 62% came from streaming, equaling $2.5 billion. It is usually folly to indulge in any form of crystal-ball-gazing when it comes to the future of mass media and their relationships with the advertising world, but I have, for the past few months, been trying to arrive at what I think are some fairly logical conclusions. In fact, it is a unique synthesis of six business, technology and consumer trends that, put together, are transforming an evolution into a revolution. For just $5 per month, get access to premium content, webinars, an ad-free experience, and more! Users are moving away from desktop and toward mobile. Posted By: Chris Moerdyk on: August 30, 2012 In: Opinion. Many emerging technologies are … The Future is Synthetic. 4. At the heart of FoST is the two-day, invitation-only Summit. While looking back at the past year, one thing becomes crystal clear: streaming has grown massively in 2017 and will continue to expand rapidly in 2018 and beyond. Video streaming revenue is also growing at a staggering rate with no signs of slowing down. Imagine, for instance, a commercial using your name, or referencing a specific behavior that you took -- sound crazy? The eSports market will jump 152% in size by 2021. According to Ms. Leizel Avila, here are the current and future trends: Mobile. 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. Once users register with the app, they can acquire “Captive coins.” Those coins can then be used to buy real goods in the Captive marketplace. The future for technology in a world of social media. In the magical world of boy wizard Harry Potter, all manner of things are possible—for example, in the Daily Prophet, the newspaper for witches and wizards, the … The Media Technology Center at ETH Zurich supports media companies on their path to the future. Media and the ways we engage with it are constantly evolving. In fact, streaming has become the primary revenue driver for both music and video, thereby radically changing the way people consume content and profoundly altering the manner in which the industry and artists deliver media to fans. As citizens of the media and information age, one must be able to adapt to the changes in media and information. We've all heard about AR, VR and blockchain, but what exactly are entertainment and media businesses doing with these technologies? 30-Day Free Trial. CEO Rom Kshuk is an Israeli innovator and entrepreneur with over 10 years of experience in food and agriculture technology, business development as well as R&D management. We see changes every day; we change every day. Just as technology and consumer behavior will evolve in 2018 in unpredictable ways, we should be prepared for these new developments as these will change the way you connect with your audience. Each year at the event, C Space at the Aria gathers the world’s innovators, marketers and creatives in one venue to discuss the future of media and advertising. Print Email. Using Bluetooth beacons, Disney tracks where players are located in real time and then asks players to search for markers near their locations. From enhancing discovery abilities to providing increasingly personalized and curated content delivery, the digital world holds the potential to entertain people in incredible ways that were once relegated to dreams. We describe technological advances which will enable seismic changes in media workflows, and we propose ten foundational principles as keys to that future. It’s expected that voice-controlled technology will take on a much larger role in the near future, following the success of Amazon’s Echo smart home device and the company’s Alexa personal assistant. Oct 23, 2015 By Bradley Kreit. Disney has a similar vision with its Play Disney Parks app. Just as e-books and webinars are becoming an oversaturated lead magnets because of the opt-in behavior required by the user, I project that the future of digital media will focus on counter-curation… much as in the “old days” of the Internet 1.0, people would collect their own gatherings of media outlets to be put into their personal dashboard as an online magazine of sorts. ... Could it help secure the future of journalism? Now, the education field looms on the horizon of positive disruption. Data’s importance in the evolving world of television cannot be overstated, as consumers are presented with an increasing number of content and delivery choices driven by data-based decisions. Thus we can think of the Internet as merely a technological system, or as a medium that contains unique formats and symbol systems that help convey meaning and knowledge. Like so many industries, technology is changing the way that media and publishing companies operate. Media Release: 29 September 2020 Australia’s agricultural future: growing with technology. The Future of Social Media empathy, Facebook, friends, Future, future of technology, humanize, Oculus, real life, social media, virtual reality, VR headset. Artificial intelligence. An extensive report from communications technology and services company Ericsson clearly reveals the massive changes occurring in TV. His platform offers access to streaming services and live events for music, movies and TV. Amplify your business knowledge and reach your full entrepreneurial potential with Entrepreneur Insider’s exclusive benefits. Services. Media can no longer simply accept technology; it must truly embrace technology. Players can also use the app to trigger real-world events. The TV will merge with digital, the … The developments that have emerged in this field are empowering educators to create remarkable learning experiences for today’s young minds. Online distribution is a … A look at how digital and social media technology is fast-forwarding a revolution in the media industry. And it is this fundamental shift in consumer behavior and technological advancement that’s driving the rapid growth of music and video streaming, along with the rising importance of data and its ability to alter the creation and delivery of all media types. The Media Technology Center at ETH Zurich supports media companies on their path to the future. While the use of VR and AR in media and entertainment is relatively new, those alternative realities are already captivating consumers and making businesses money. The future of social media is mobile. The Future of Media Technology Introduction Technological development is the process of research and development of technology. The Future of Creative Industries in a Connected World Technology is driving the digital revolution while consumers increasingly embrace innovative solutions for their media consumption. They also may be hidden from public view in the form of something like a patch or strap. Forecasting the future of technology is for dreamers who hope to innovate better tools -- and for the mainstream people who hope to benefit from the new and improved. How consumers utilize the various forms of technology available is what ultimately will affect the future of media. Related: 3 Startups That Are Using Technology to Reinvent Entertainment. Best-in-class social media management and engagement software. Media Technology is an engineering science. Reflecting back on this piece a year later it feels more clear than ever that we’re moving towards synthetic media future. Even Forbes is using a bot named Bertie, which “recommends article topics for contributors based on their previous output, headlines based on the sentiment of their pieces, and images too,” Digiday reported. Get heaping discounts to books you love delivered straight to your inbox. This is a great day for Twitter shareholders and the commonwealth. Technology is one of the fastest growing industries around today, and A.R. The future of media is changing seemingly every day. Current and Future Trends Nowadays, people create new things out of their ideas and creative mind knowing that it will be popular and it will make a trend. Longer Visits, Repeat Visits. EPA-EFE/Lauren Hurley May 21, 2019 Grenfell Tower: warnings might have been heard if not for the collapse of local journalism. Copyright © 2020 Entrepreneur Media, Inc. All rights reserved. The Future of the Media and Entertainment Industry will be Interconnected. are no exception. And a growing number of music fans are making this switch, with over 100 million people now subscribed to such services around the world. Cable TV, for example, lost an unprecedented number of customers in Q3 of 2018, according to The Wall Street Journal, as people opted for subscription-based TV services. It was a very special time in my career. The intricate melding of first, second and third-party data allows industry players to get the best results out of an algorithm, thereby positioning data to lead the way to making more effective decisions. Google Plus tried something like this before to little success, but spurred … These formats, symbol systems and unique characteristics (e.g. What bets are investing moguls now making on the future of media? ENX coin specifically uses blockchain to create a forgery-resistant currency that provides transparency for all involved. From your Motorola Razr to your iPhone X. As citizens of the media and information age, one must be able to adapt to the changes in media and information. Captive, for instance, has paired blockchain tech with AR to create new user experiences in which consumers interact with brands in new and entertaining ways. It is ever changing in nature. Different types of groups. Moving forward, it’s expected that OTT will experience the most substantial market growth rate based on the increasing use of digital platforms for the branding and marketing of products. Social Construction of Reality. Technology has transformed almost every aspect of our lives, and now it seems that education systems around the world are due for an update. Youngblood's music career reads like a Who’s Who Hollywood List -- he's produced hits for Chris Brown, Fergie, Jlo, Usher, Prince Royce and others -- and he aims to bring decentralization and efficiency to a space that has been notoriously resistant. New technological advancements are influencing our world in increasingly apparent ways, from how we pass the time at home, how we connect and communicate via social media and how we approach our work lives. Digital technology has changed what people term as “media.” The influence of new technology on media is apparent since a media company isn’t necessarily a news platform anymore. For one, the firm’s study found that approximately 70% of consumers now watch television and videos on a smartphone, which is double the percentage from just five years ago. How will brands adapt to the future of social media? Among other things, streaming powers the growth of digital distribution, creating more opportunities for independent artists. Ericsson predicts that by 2020, just 10% of people will watch TV only on a traditional screen, which would mark a 50% decrease in comparison to 2010. Discussing The Future Of Education And Technology. “The role of technology has evolved from automating the business to actually being the business.”2 Business innovation and disruption are rapidly changing the scope, pace, and scale of techn… Even Google is getting into the music industry with a big investment in the new US-based digital music distribution startup UnitedMasters, which was founded by the one-time President of Urban Music at Interscope Records, Steve Stoute. There are also some safety wearables that look like a norma… Our world is now connected through the internet and social media in ways that exceed even the wildest imaginations of technology innovators from the past. As digital and streaming solutions increasingly dominate the media industry, the role of data is rapidly evolving from being important to becoming absolutely vital. Tag Archives: future of technology Oculus wants you to feel the future, Facebook wants you to feel familiar. What does the future look like for digital media? Blockchain is another element that has the potential to radically change the entertainment industry. Forthcoming innovations in voice tech hold the potential to radically alter the manner in which consumers search for and listen to music, resulting in an even bigger impact on revenue moving forward. The media and information are a mutable entity. The future of mass media. According to the RIAA’s 2017 mid-year report, the U.S. recorded music industry experienced a 17% revenue increase in the first half of this year in comparison to 2016, and the primary driver of that growth is streaming. MovieLabs and its member studios have published a white paper that lays out a bold vision for the future of media creation technology some 10 years into the future. Update: 4th September 2020. How many would you call with news about an illness or invite to your wedding? 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