FUTURE OF MEDIA COMPANIES, week 47

Hello all readers.

From the last time, we have focused more on taking our concept into an actual product. The product that we have in mind is a service platform that works in a similar way to the Spotify concept but for television content. We want to clarify how our topic and conclusions are connected to the topic of digital commons and the sharing economy. Filesharing is literally how a sharing economy looks like when it comes to digital content.This phenomenon has crashed several old business models including television and it proves that the sharing economy is something that industries might see as a threat. The key driving force for this phenomenon is how the users see upon what content is. Digital content will always be available for a connected user, either through filesharing, streaming or broadcasting. Either way the user will see the content if he/she prefers to. In 2025 this driving force will be an accepted fact and businesses have to work side-by-side with this force and try to monetize their business.

This means several things for the industry. Technology in 2025 will be very sophisticated, we think that big data have reached a level where people will be connected to the internet by some kind of microchip that measures everything about you, your feelings, your health maybe even your thoughts. Together with internet of things technology this information that will be shared will generate enormous amounts of good data that can be used to build a platform from which users can go to, to find the best content available for their needs. We think that people will share their data willingly to connect with this platform and by doing so they will get the best experience possible, co-creation interaction are taking to much time for this kind of interaction so the sharing is displayed in sharing information. This platform will pair content and commercial content together with the right user depending on the users preferences, mood, locations etc, in a seamless way. Technology itself will play a part in how the content will be consumed such as virtual reality, 4D technology etc but we believe that we have to delimit our topic to how media companies and users will interact.

We think that a media company on a international level will be a very tech intensive company where big data and machine learning are outperforming the traditional roles in a media company. Big players such as netflix have the financial power to buy exclusive rights for productions and high tech companies such as google will outperform as a platform which means that local media companies such as TV4 have to do business on what they can control and know - they will produce content that are targeting local users and local culture. This makes their market cap much more narrow and more nich. Machine learning will take marketshares against tv-journalists as technology and social media will evolve and their will be a lot of disruption within the industry.

The media industry was fundamentally built and limited to how technology worked and this means that technology must shape the future industry. The way that distribution rights are formed are to fit the format of linear television and is based on a model of release windows. The production companies have made these rights to be as profitable as possible for their company with pre internet release models. We want to build a license system within our platform where the licensing are updated towards future technology and how users interact with production companies.

To summarize how our product will work like:

• A seamless platform where users share all of their information to find great content.
• A platform that is integrated with all types of devices
• A up to date license model which are beneficial to all users.
• Social media and prosumer content will be put together to be easy to consume by the user.
• A platform that know you and therefore provides you with what you want to watch.
• Every user get’s commercials that fits and interests them.
• The right commercial will reach the right individuals.
• More crowdfunded content.

So this week we have kept on working on our future product and defining the different industries that can have an impact on how the future platform will work like and what industries that can be affected by this platform. We have started to work on our report by dividing up different areas inside of the topic that needs to be more fully understandable for us to know how they will look like in the future. For example crowd funded content,Internet of things,License and one private company having control over a whole industry etc.

If  we are going to be a consulting company is very determined on where we end up and we will decide that later