When people try to look at the media industry, they see that both disruption and innovation have changed the business landscape. From the digitization of freelance resources to the incorporation of technology for other related benefits, the media industry is hugely affected by the advent of technology. The direction in which the media industry is moving is influenced by incorporating recent technological trends into this industry. According to Hani Zeini, you have to evaluate the current technological trends that have the potential of impacting the media industry to understand the progress of a particular enterprise.
Hani Zeini asks entrepreneurs to take a look at the significant media trends
You must understand technological trends to comprehend the changes in media.
The digital is slowly taking the place of print. With the reduction of technology, the devices for digesting media are becoming more convenient and advanced. The transition which has taken place in various aspects in compassing preference, ease of use, and convenience is slowly breaking down. The recent technological trends will eventually clear the direction for the new ventures. For this, every entrepreneur has to ensure that they make digital delivery the primary focus and print operation sellable.
These days, companies are outsourcing their works and thereby providing an avenue for freelance writers, editors, designers, and photographers. Those companies that manage a bunch of talented people face increasing competition from those who are using freelance talent. Even in the media industry, freelance mania has become a recent trend that is both cost-effective and ensures a higher profit margin for the venture.
The advent of technology has enabled the production of online content enormously. The new wave of videos, articles, publications, shows, networks, etc., is becoming popular. Nowadays, fresh content gets uploaded daily, thereby increasing competition and forcing entrepreneurs to stay vigilant.
Customers are interested easily and quickly in digesting information. It has led to a surge in demand for video-based delivery. When amalgamating this service with the firm’s rapid progress by incorporating HD, 8K, and VR, you can get enormous content opportunities. The incorporation of technology has enabled entertainment companies to get hold of path-breaking success.
Some changes encompass the sector of an economic powerhouse previously owned by the boomer generation. For the media industry, it is a recent and evident switch. Millennials thread content and information in a different way than the generation before them. The availability of enormous data has made them extra cautious regarding media. It is imperative to make a note that millennials value authenticity and thereby subscribe to newer content, says Hani Zeini.
There are several impacts on the media industry in recent times, and technology is the primary one. In case you belong to the media industry, you have to take serious note of the modern trends and their effects on your business. It will help you determine an appropriate strategy based on technical competencies and the outer environment’s needs and demands.