In a recent release, Tracey Follows, founder of Futuremade, has identified 5 key categories in which new media tech and innovation will have the most profound impact over the next 5-20 years.
The full 43 page report is a compelling read (Which you can find here), as its key points suggest:-
The report was commissioned by Sky to mark three decades of innovation by the broadcaster; its firm prod for TV in the opening bullet point is surely no accident?
While the focus of the report is unashamedly based on user experience, it shies away from platform owner specifics and anticipated shifts in scales of consumption. However, who for instance would be brave (or foolish?) enough to say when newsprint media will become obsolete, or where this extinction will first occur?
Talk of news media is highly resonant with today’s media dynamics. ‘Trusted Sources’ is one of the key categories identified. Will reputable journalism as we think we know it ever recover ground against fake news? How will newsmedia companies increase trust? This is a massive challenge now: but going forward, the more users who seek alternative sources, the less demand there’ll be from advertisers for traditional newsmedia.
The report also lacks timelines, but since its focus is usage dynamics this is excusable. In absence of a clear road map for the NPD / investment / implementation cycle (and given the imperative for commercial confidentiality at every level) a futurologist’s road is anything but predictable!
Having said that, there are some bold comments about the growing importance of AR (augmented reality) and VR (virtual reality) in advertising:-
“…..even the lowest predictions for revenue for AR /VR are about $34bn by 2025. That forecast comes from Hackernoon but others such as Goldman Sachs Research suggest the industry will be worth closer to $80bn.”
So for a glimpse into what may lie ahead for you, your children and your children’s children, I recommend downloading the report for some bedtime reading that might bring a new kind of fuel to your dreams.
– Richard Huglin