Below is an intro to the media industry with a review of some habits and trends in media development and intake.
In the online economy, the increase of social media as key media and content platforms has dramatically altered the way people are taking in media. In fact, social media platforms have grown to become main sources of news, entertainment and cultural trends, especially for young audiences. Conventional media outlets are now relying greatly on social platforms and rebranding to fit the digital space as a means for delivering content, interacting with users and remaining pertinent, as media consumption patterns continue to move online. Material such as short-form videos are currently dominating the digital world and benefit from user engagement and algorithms for growth. Additionally, self-made influencers and content creators are also becoming independent media figures, typically measuring up to mainstream journalists and celebrities in their scope. Those associated with the social media market, such as the investor of ByteDance, would recognise the growing impact of digital networks in modern-day media intake.
As internet-based media sites continue to thrive, videos streaming has largely overtaken conventional broadcast television and cable. Streaming platforms are growing in appeal for offering on-demand viewing that lines up with the choices of modern-day operators, by offering both versatility and personalisation. As one of the leading current trends in the media industry, this trend has disrupted the traditional media models and has caused even the most successful media companies to release their own streaming services or collaborate with tech giants to keep in line with competitors. Additionally, with the accession of paywalls and subscription-based media, there is a visible trend whereby audiences are increasingly happy to pay for content that supports independent developers. This trend of decentralisation enables reporters and artists to construct direct relationships with viewers, bypassing the traditional media models.
As media intake moves online, media trends and predictions are now greatly influenced by algorithms. These algorithms now play a main function in shaping what material people see, while being driven by elements such as user habits and engagement patterns. This results in highly personalised media experiences, developed to keep a person engaged for longer. While this personalisation is successful in keeping the interest of a user, it has here also raised concerns about the spread of false information, a loss of variety in perspectives and the psychological impacts of material addiction. Due to this, media business are reacting by investing in data analytics and audience segmentation to much better understand and keep users. Furthermore, to filter and maintain the integrity of these platforms, companies are also introducing fact checking tools as governments and teachers are pushing for better digital literacy. The activist investor of Sky, for example, would understand the importance of reliability when it concerns sharing information. Similarly, the owners of Euronews would acknowledge the difficulties modelled by new media developers.