The media sector is undergoing a transformation driven by new technology.
Piero Scaruffi, known for co-authoring A History of Silicon Valley: The Largest Creation of Wealth in the History of the Planet, shared his view of future media trends at a recent forum hosted by Sina News in Beijing.
These are ten trends Scaruffi highlights in his 2017 The Future of Media Report.
Trend 1: User experience technology
In the future, news won't be just “read”, but “experienced”.
A woman reads on her mobile phone at a library in Xiangyang, Hubei province, Nov 1, 2016. [Photo/VCG]
Trend 2: Big data
The news media accumulates data about everything that is happening in the world.
Tom Furlong, vice president of Facebook Site Operations (right), and Joel Kjellgren, Data Center manager, stand inside the server hall of Facebook in the city of Lulea, some 900km north of Stockholm, Sweden, June 12, 2013. [Photo/IC]
Trend 3: A new kind of content
Content will be brief, viral, amateur, and multi-sourced.
Different magazines and newspapers portray US Presidential candidate Donald Trump. [Photo/IC]
Trend 4: Streaming
Buzzfeed, Facebook and Google have all started to compete in online videos.
A winner poses with a mobile phone on a selfie stick after a ceremony unveiling 10 best online streaming anchors in Jinan, Shandong province, Aug 7, 2016. [Photo/VCG]
Trend 5: The app
Now, 60 percent of app users become inactive within 30 days of downloading an app.
An employee holds an Apple Inc iPhone while reading a news article on the Blendle app inside the headquarters of startup company Blendle BV in Utrecht, Netherlands, March 30, 2016. [Photo/VCG]
Trend 6: VR/AR
Virtual reality (VR) and augmented reality (AR) allows makers to create immersive and fun content.
A female journalist uses a VR camera at a press conference at the 12th National People's Congress in Beijing, March 3, 2016. [Photo/VCG]
Trend 7: Makers culture
It is important to rethink media production as a makers culture.
A stall at the Maker Faire Rome 2016, held on Oct 14, 2016 in Italy. [Photo/VCG]
Trend 8: Monetization
Advertising will be different as technologies such as AR are incorporated.
Internet star Papi Jiang secured 22 million yuan ($3.2 million) for the first advertisement posted on her online show on April 21, 2016. Papi, a female student pursuing a master's degree in directing at the Central Academy of Drama, shot to fame after she started uploading original and funny short videos on websites last October. [Photo/VCG]
Trend 9: New platforms
The platforms of the media have evolved from just newspaper, radio and television, to omni-platforms as a result of the internet, presenting challenges for the industry.
A tablet displaying the Independent website that has replaced the print edition of the London newspaper on March 26, 2016. [Photo/VCG]
Trend 10: AI and robotics
Robots scour data. They know what is trending, what makes money and can package the data for maximum profit.
A robot performs writing at an exhibition in Shanghai, Nov 1, 2016. [Photo/IC]
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