future of media and entertainment - an emerging view - 07 07 2015
TRANSCRIPT
The Future of Media and Entertainment | Mumbai | 27 July 2015
Context As digital increases in impact and new business models emerge, the world of media and entertainment is undergoing significant change. Globally and locally how this is manifested is of interest to many.
Future Agenda The Future Agenda is the world’s largest open foresight program
that accesses mulGple views of the next decade so all can be beJer informed and sGmulate innovaGon.
Looking Forwards OrganisaGons increasingly want to idenGfy and understand
both the anGcipated and unexpected changes so that they can be beJer prepared for the future.
Future Agenda 1.0 Top Insights for 2020 From the 2010 program, 52 key insights on the next decade
were shared widely via books, cards and online and have been extensively used by organisaGons around the world.
Future Agenda in Numbers The first Future Agenda programme engaged a wide range of views in 25 countries. Future Agenda 2.0 is doubling the face-‐to-‐face interacGon
and significantly raising online sharing, debate and discussion.
Future Agenda 1.0 1 HOST 16 TOPICS 25 COUNTRIES 50 WORKSHOPS 1500 ORGANISATIONS
Future Agenda 2.0 50 HOSTS 20+ TOPICS 40 COUNTRIES 100 WORKSHOPS 2500 ORGANISATIONS
Future Agenda 2.0 Topics The second version of the Future Agenda program is taking place
during 2015 and is addressing 20 topics via 100 events in 50 ciGes in 40 countries with around 50 core hosts.
Ageing
CiNes
Company
ConnecNvity
Data
EducaNon
Energy
Food
Government
Health
Learning
Loyalty
Payments
Privacy
Resources
Transport
Travel
Water
Wealth
Work
The Process 20 iniGal perspecGves on the future kicked off the Future Agenda discussions taking place across 5 conGnents from Feb to July 2015. These are iniGal views to be shared, challenged and enhanced.
IniGal PerspecGves Q4 2014
Global Discussions Q1/2 2015
Insight Synthesis Q3 2015
Sharing Output Q4 2015
The Future of Media and Entertainment From the discussions so far, there are many issues that relate to the changing nature of media and entertainment both from within and outside the sector. These will be built upon in Mumbai on 27th July.
Key ShiTs From Within The Media Industry
Instantaneous Bite-‐sized DistribuNon MulGple media sources are instantly integrated at the point of consumpGon to provide users with immersive
access to tailored, bite-‐sized content.
Video The Norm High speed broadband connecGvity, massive, cheap storage
and pervasive mobile access accelerate the shi` from text to video as the dominant means of communicaGon.
AmplificaNon Overrides EdiNng As creaGve talent seeks to beJer engage with
audiences directly via new plaaorms, the role of those who amplify opinion rises above original content editors.
The AZenNon Economy Audiences are increasingly predisposed to short, sharp,
in-‐moment insights rather than immersive experiences – hence content sharing is faster and louder to aJract and retain them.
Lean Back 2.0 The rise of tablets brings new life to the solitary, relaxed, in-‐depth and immersive and pleasurable lean-‐back experience.
Curated Content Bespoke content is collated for users by media networks and
crowd-‐elected taste-‐makers -‐ both from within their own / other organizaGons’ archives, and from related public / individual sources.
DifferenNated Knowledge As insight is globally commodiGzed, the best returns go to
those who can produce non-‐standard, differenGated knowledge that has relevance for the few and many
LiZle Printer Customized and connected mini-‐prinGng expands and
instantly gathers everything it needs to prepare a neat liJle personalized package for you at the touch of a buJon.
Mass Intelligence Led by Pay TV, mass audiences are increasingly aJracted
to challenging narraGves that show that value can be created and extracted through investment in high quality content.
Future of Free The near-‐zero ‘marginal costs’ of digital distribuGon
creates yet more new marketplaces, where free pricing is pracGcally a given – and a force of economic gravity
Adjacent Sector Changes That Could Impact Media and Entertainment
Everything Niche Niche becomes mainstream as the cost to connect people with common interests drops to zero, and more of us can
pay aJenGon to specialist, tailored long-‐tail issues.
Embedded GamificaNon People interact with informaGon and each other via blended
digital / physical environments that feature mulGple game-‐like elements embedded within them.
Live Experiences (Re)connecGng individuals with shared interests rises in significance
and value as we prize pivotal live events that create moments for deeper, richer connecGons well above distributed interacGons.
Performance-‐Based AdverNsing With Google as the dominant catalyst for change, all mainstream media adverGsing moves to reward measurable ‘effecGveness per view’ rather than just number and segmentaGon of views.
InformaNon is SNll Power Knowledge and informaGon remain a source of compeGGve advantage but retaining control becomes more complex as the influence of two factors increases -‐ mobility and the democraGzaGon of everything.
Perfectly Informed Consumers Increasing transparency of cost, quality, benefit and availability
enables consumers to set the right price for products and services and buyers pay sellers what they want to.
All DigiNzed By 2020 all the world’s informaGon is digiGzed, storage is almost
free and the volume of data in the world is doubling every month – we can all access the 21st century archive.
Shared InformaNon There isn’t much informaGon that we can easily say belongs to just one person. If two people have a chat in a café the content belongs to both of them and the fact of their meeGng belongs to all who observe it.
Owning Your Digital Shadow Consumers are increasingly aware of the value of their
digital footprints. This drives the desire for greater control of personal data, balancing convenience and benefit.
Mass CustomizaNon Consumers’ expectaGons of both unique and tailor-‐made are met
through the apparent delivery of individual combinaGons that are drawn from carefully designed choice architectures.
Device is King, Consumer is Queen Whether on devices or in the cloud, our digital archives will know
who we are, where we are and what we are redeeming. Businesses need to understand these how they define our relaGonships with their brands.
A Data Marketplace Data is a currency -‐ it has a value and a price, and therefore requires a market place. An ecosystem for trading data is emerging and anything
that is informaGon will be represented in this data marketplace.
Up Close and Personal Consumers are increasingly aware of the use of their data. We may see a loyalty U-‐turn -‐ with greater transparency in place, brands will have
work ensure consumer loyalty -‐ not the other way around.
OpNmal Experience Growth is driven by hundreds of thousands of data apps sharing the same networks. Every user, human as well as machine, expects the
opGmal experience for its personalized set of applicaGons.
Pervasive Mobile Pla`orms The anyGme, anywhere experience is delivered via increasingly
wearable devices that connect to the cloud via wireless networks whether in moGon or staGonary.
The Human Touch In a world of global and digital markeGng and consumpGon,
consumers will increasingly favour those brands that can offer more emoGonal engagements, and specifically human-‐to-‐human contact.
The Composite Consumer Flexible digital idenGGes allow consumers to connect with each other, even as they connect with brands. Loyal relaGonships will not just be made with individual customers but also with families, couples, and groups of friends.
Open Business Models Value is created, shared and distributed via a mix of
use-‐driven metrics and underlying informaGon exchange and reuse mechanisms and rewards
Dynamic Pricing Real-‐Gme consumpGon paJerns and data seamlessly drive
the marginal value of content, the cost of access for adverGsing and the underlying cost to produce.
Global Talent Networks The best talent operates as free agents across mulGple networks aJracted not to employers but to the commissioners that can
provide projects worth working on with peers of note
Internet of Things Every device and consumable product has an integrated unique IP address that enables everything to become an
acGve node in the shared network.
Micro Leisure Moments In the always-‐on world where we sleep with our devices,
short-‐burst Gmes to disconnect become increasingly integrated into a turbulent mix of mulG-‐layered experiences.
Privacy Backlash Breaches in personal and societal data use result in less -‐ not more -‐
sharing of data, as many turn off locaGon tracking while some choose to opt-‐in to a privacy marketplace.
Life-‐ling Engagement Life-‐long learning and engagement becomes the norm
as we all work to 70 and have mulGple careers. Keeping our skills up to date and staying engaged becomes a prerequisite for many.
Redefining Value Consumers want to parGcipate in value creaGon, shi`ing the mindset to “made with me” -‐ Value is about “shared with me”
as the ownerless economy expands.
Openly Shared Insight Value creaGon shi`s from insight ownership to insight use and
applicaGon. Knowledge is increasingly freely shared and mulGple content sources compete to share with the most influenGal audiences.
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