Digital media consumption happens everywhere (at work, in schools, on the street, etc.) and as the world is online, people (potential consumers) spend more time online.
Marketers are spending more of their time and money focusing on digital media too, of course.
What will happen in the nearest future? Over the past ten years, digital media has been changing the face of all media consumption.
With Digital Media beating down traditional media, here are 5 interesting stats and reasons why the next ten years of digital media consumption will smash the last ten!
Digital media is the next big thing
Digital media consumption is growing and everything else is shrinking. In the last 5 years alone, comparing TV, Radio, Print, Digital and other media of the US, Digital media is on the rise.
Digital Ads is growing
According to eMarketers, UK’s Print Media Advertising will suffer the most in 2017 and other traditional media will see gains as digital investment grows.
Its Google, Facebook and “Others”
In the first half of 2016, Google and Facebook grew while everyone else shrank.
For the past 20 years, digital media has disrupted Print. For the next 20, it will disrupt TV
Traditional TV has passed its peak and viewership is falling.
Though, modern TV networks like Netflix, Amazon Prime, Apple TV and Hulu are exploding, and Netflix saw more hours per month than any other TV network, It means we can now watch anything when we want, on any screen, anywhere.
So what will happen in the next 10 years?
First, TV won’t die; it will suffer in style… Old media don’t die, they get niche-ified.
There are 3 Parts of TV and two are thriving
- Modern digital TV networks will continue to thrive
- Access Providers will continue to thrive.
- Traditional TV networks will go through decades of consolidation.
QUICK VIDEO: Here’s how a TV show gets made
In the US alone, there are too many legacy networks and here’s what’s happening:
Comparing Revenue and TV advertising, TV is awash in money.
SO, WHAT IS THE NEXT BIG THING IN DIGITAL MEDIA?
It’s not smart watches or glasses – they are not media consumption devices. Here’s why:
It’s not VR/AR. They have potential, but still too early..
THE NEXT BIG THING? – SOCIAL VIDEO
As one of the largest social network on the Internet, bringing together friends, family, and colleagues to discuss in text, images, and video form whatever they feel like every day, Facebook is apparently changing, and within 5 years the entire social network will consist of video content.
That’s not the prediction of some social network researcher; it’s the view of Nicola Mendelsohn, Facebook’s vice president for Europe, the Middle East, and Africa.
She also believes that Facebook “will be definitely mobile,” which we can only assume means accessed almost exclusively on mobile devices.
Another example is Youtube. Some time around May 2016, Bloomberg reported that Youtube is planning online TV service.
Our smartphones are now our new TV, and this is one indicator that social video is the next big thing which will change the face of digital media consumption over the next few years.
WHAT MAKES SOCIAL VIDEO THE NEXT BIG THING!
With social video, there’s always a new kind of story. Social video has the following powerful features:
- Interactive and conversational
- Sound optional
- Thumb stopper
- Shareable,
- Travels across all platforms (Facebook, Twitter, Instagram, Snapchat, etc)
- The opportunity is massive.
Social video can be evocative, entertaining, and effective; they change behavior and compel actions. With millions of views, sales are skyrocketed by 500% on amazon alone.
Digital media consumption is taking a new trend and its next ten years will be wonderful and full of more possibilities.
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