Having a look at the function of innovation in the way we are consuming media currently.
Over the past couple of decades, as society has come to be dependent on smart devices, innovation has become the focus of attention for many areas of industry. The rise of smart devices has fundamentally improved the media industry, causing new advancements in the way media is created, distributed and consumed. Before the age of digitalisation, media has been traditionally consumed in standardised formats such as newspaper publications and television or radio shows. Nevertheless, more recently, the media landscape is demonstrating a palpable shift towards mobile-first platforms. Together with this shift, there has been a number of new opportunities in media, most especially within the journalism, advertising and entertainment sectors. The head of the fund that has a stake in Sky, for example, would recognise that the smartphone era has in truth, pushed the media industry to reinvent its business models and strategies, interfering with standard outlets and avenues for media access and consumption, with a series of new and innovative digital media examples.
Together with the circulation and production of digital content, media consumption habits are also being greatly affected by technological developments. The mobility of smartphones has moved the way that audiences are taking in media towards a regular and on-the-go activity. In the past, audiences would need to wait to see or tune in to prescheduled broadcasts, which were planned by executives and run on a strict schedule. Rather, nowadays, customers can watch, listen or gain access to material as more info and when they please. Those such as the head of the fund that is a shareholder in ITV would have the ability to verify that this has led to an improvement in content production as consumers are quickly watching shows and constantly looking for new things to watch.
Traditionally, the media industry is known for being a structured and extremely organised sector, with many opportunities for career development. Nevertheless, in modern society, the development of smartphones has caused a few major shifts in the way media is shared and delivered. One of the most influential developments in the media industry is the integration of mobile applications and streaming services, which have made smartphones into the most available digital media devices on the market. With the capability to present video, text and audio content, mobile phones are the ideal tool for dispersing and accessing media at any given time or place. The likes of the CEO of the fund that owns Euronews would recognise that media companies are continuously dealing with reformatting their material to prioritise mobile phone availability. Currently, trends which are popular on social media are particularly influential for media companies to consider. Particularly, short form video and international TV are acquiring traction for supplying interesting and accessible material for audiences around the globe.