Technological developments have changed the old-fashioned way of publishing news and stories. This advancement came after COVID-19 hit the world. Considering the prevalence of modern technologies, how the media sector collects and publishes content is also changing. This article will discuss the ten examples of emerging technologies that are changing the media industry.
1. Non-Fungible Tokens (NFTs)
Non-fungible tokens used for ownership of digital assets revolutionize the media industry by giving creators a new way to monetize digital content. These digital assets are stored on a blockchain. Through NFTs, you can create digital items such as art, music, and videos that can be sold and traded. For example, an artist can create an NFT and set a price for people who want to buy it. This controversial yet revolutionary technology has impacted the media industry as well. Dan Harmon's new show, Krapopolis, entirely functions on blockchain technology.
2. Cloud Computing
By definition, Cloud computing delivers computing services such as servers, storage, and databases. You must be wondering what cloud computing has to do with the media industry. Let me tell you how this is useful for the media industry. Cloud computing has enabled the media industry to store and access content anytime remotely, also cutting down the production cost. With the help of Cloud Computing, the content can be shared securely with multiple users.
3. ChatBots
Facebook created an opportunity for outside companies and introduced a Messenger bot platform. Companies like TechCrunch and Fusion grabbed this opportunity to innovate in the news bot space. Companies like TechCrush designed the bots to display the latest headlines based on your search intent and browsing history. This technology dramatically facilitates the media and news industry.
4. Artificial Intelligence
AI is used to create a more tailored experience for users using advanced algorithms and continues to have a revolutionary impact on the media industry. In the media industry, AI can play an essential role; it can be used to recommend users more personalized content that the user finds valuable. It can also be used to produce cost-effective content. Streaming giants like Netflix said 80% of its content delivery is facilitated through recommendations.
5. Virtual Reality (VR)
Virtual reality is the ultimate level of media interaction, changing how most people consume content. The media industry opting for this technology due to various reasons. VR promises a seamless interactive experience for viewers to feel a better connection with the story. Filmmakers can use this technology to make their films more interactive and add more visual effects that make movies unforgettable.
6. Automated Journalism
Robot journalism has been a controversial topic in the media industry. As an emerging technology, automated journalism is used as a helping hand to journalists for analyzing, interpreting, and producing content. It is also used to find trending stories and source information. This way, it is changing the conventional method of journalism.
7. Social Apps
Social apps are one of the factors that journalists or media persons can think beyond to better understand the user perspective and their needs. The technology used in these apps helps journalists share the stories that resonate with users' interests. Social outreach apps like Facebook and Twitter can bring fresh perspectives on how the media industry interacts with its users.
8. Anti-Ad blocking
Ads are irritating and interrupt viewers' streaming experience. Yet, according to a survey, 69% percent of the users do not use an ad-blocker. Ad-blocking software could cost a loss of $8 billion in revenue. Some in the media industry are talking about “Ad Reinsertion,” a technology to alternate the ad space with something else. This technology could significantly enhance users' experience in the media industry.
9. Text-To-Video Creation
Streaming apps are famous nowadays among all ages. This is how video content leads the content industry and maintains an audience. Publishing high-quality videos to satisfy the viewer's intent is a challenging task. Thanks to text-to-video creation technology, this helped most publishers who need more resources to fulfill video consumption demand. Different software uses this technology to convert written articles into high-quality, short, informative videos.
10. Live Streaming Platforms
Many streaming apps have dominated the media and entertainment industry for quite some time. Facebook Live and Periscope are the platforms that are now famous among journalists. This emerging technology has helped media persons eliminate heavy camera setups; now, they can open these streaming apps and capture news as it happens. Journalists can cover any story as it breaks by opening such streaming apps on their phones.
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