Media & Broadcasting Futures

A Foresight Report for Sony

Case Studies

After two years of Covid-19 sending disruptive waves around the worlds of politics, Sony commissioned The Future Laboratory to produce a new foresight report exploring how this is a fitting time to take stock of the future of the virtual and other digital technologies that have been our life rafts throughout the pandemic.

These technologies have enabled and enhanced every aspect of our lives, from how we work from home, how we keep connected with our families and friends and how we shop and consume, to how we keep ourselves informed, educated and entertained.

The media and entertainment industries are at the heart of the pioneering technologies that continue to push the frontiers of what is possible, and as tech forges ahead, industry business models must evolve and adapt to keep pace.

To give our partners and communities insight into what is next for these industries, Sony has commissioned The Future Laboratory to produce this Media & Broadcasting Futures report. Integration, collaboration and consolidation are key words that define how the industry is responding across its operations – from content creation, production, distribution and consumer engagement to the sustainability of its ways of working.

Combining expert interviews with consumer insight, The Future Laboratory identified the emerging trends and attitudes that will transform media and broadcasting market. This report, made in collaboration with Sony, provides an in-depth assessment of the development of different business models and new revenue streams for industry players.

Click below to discover the resulting Media & Broadcasting Futures report, with key take-outs and statistics for this new era.

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Commissioned by:

2 February 2022

Author: The Future Laboratory

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: Overview

Connected Agility: Frame.10 Cloud-based Video Review and Collaboration Platform, US.

The media and broadcasting industry has experienced unprecedented turbulence over the past 18 months. The unique challenges posed by a global pandemic have transformed consumer behaviour, accelerated technological developments and impacted how everyone, from large broadcasters to amateur auteurs, creates, produces and distributes content.

In this report, we explore the social, cultural and technological forces that are shaping the future of the media and broadcasting across Europe. We examine:

: The emergence of hybrid media and broadcasting, where IRL and URL blur to enable truly global, communal and immersive experiences
: An accelerated decentralised future for media fuelled by smaller content creators, with access to content creation tools democratised
: The streamlining impact of digital transformation on the industry, enabling people to do more with less
: The adoption of new, holistic and collaborative approaches to sustainability

Through this examination, we have identified the emerging trends that are shaping media and broadcasting and inspiring all-new capabilities for the industry, enabling the creation of a new extra-ordinary, rather than a new normal.

‘While a degree of turbulence is likely to continue in the
years to come, the innovation spurred by the pandemic is now enabling media and broadcasting to thrive once again.’

Martin Raymond, co-founder, The Future Laboratory

: A New Landscape

Lost Horizon, UK.

A series of shifts unfolding today is set to determine what the media and broadcasting industry will look like tomorrow. Importantly, opportunities abound, as brands look to harness a new landscape to meet and exceed consumers’ evolving needs.

Here, we explore how the pandemic didn't just temporarily alter our way of working but has accelerated a range of developments that have transformed the industry for good:

: Digital Acceleration
According to research from McKinsey, society experienced five years of digital transformation in the first eight months of the pandemic alone. In Spain, digital adoption jumped from 84% to 96%, according to McKinsey, while Equinix research reveals that 41% of digital leaders in Germany say they have accelerated digital transformation plans because of the pandemic.

: Virtual Safety
Research from trade publication Pollstar shows that the global live events industry lost over €26.5bn worldwide in 2020 due to restrictions and lockdowns. The global film and television industry is projected to lose a staggering €141bn of growth over the next five years. Transformed consumer mindsets sit at the heart of this economic reckoning, with research from YouGov revealing that globally almost half (43%) of consumers remain uncomfortable about visiting live events such as sports, music concerts, or festivals.

: Creativity Rising
Amid the doom and gloom of the global pandemic, the constraints placed on people have served to spark a creativity revolution among consumers, giving them an outlet and pushing us from an information-based society towards a future where value is driven by imagination.

Discover our Sideline Studios microtrend – a look at how with the Creator Economy booming, broadcast studios are becoming an essential element in future residential, hospitality and leisure developments.

DISCOVER SIDELINE STUDIOS

‘Improving sustainability through increased efficiencies representsa huge part of the future of media and broadcasting.’

Sébastien Audoux, Head of sports digital content at Canal+

: Media & Broadcasting Futures

Virtual Production: XON Studios Virtual Production and XR Stage Specialists, South Korea.

As the rapidly shifting landscape demonstrates, the pace of transformation within the media and broadcasting industry has never been higher. ‘A series of huge shifts is happening all at once, causing the industry to consider things today it didn’t have to a few years ago,’ says Giacomo Margutti, an Italy-based senior content producer.

Through our research, we have identified four themes that represent the future of media and broadcasting. Here, we explore the themes set to define how the industry evolves over the next five years and beyond, and the microtrends they will inspire:

: Hybrid & Immersive
As the world begins to adapt to the inter-Covid climate, the virtual spaces which have provided a temporary lifeline for brands are going nowhere. Instead, get ready for a future of hybrid media and broadcasting, where IRL and URL will blur to enable truly global, communal and immersive experiences.

: Democratised & Decentralised
A creativity revolution is emboldening a new wave of creatives to explore fresh routes to production – making way for a media horizon where the future, and the tools needed to get there, is accessible for all.

: Streamlined & Consolidated
As Covid-19 laid bare the fragile nature of supply chains, media production was forced to embrace digital techniques in order to survive. These tools are now emerging as streamlined solutions rather than lesser alternatives to standard production processes.

: Sustainable & Collaborative
With 2021’s global sustainability summits forcing every industry to rethink its place and its purpose amidst the global crisis, the next decade will see the media and broadcasting industry place sustainable action front and centre.

This is just a snippet of the Media & Broadcasting Futures Report. Click below to download the full report PDF.
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‘If we can’t assure our customers that we are being considerate with the environment, that we are taking into account our impact, then we are not going to sell.’

Teresa Azcona, vice president of Spain Film Commission

Are you ready for what’s new and next?

To learn more from about the trends in our Conscious Commerce report, download it here.

If you are interested in finding out more about our foresight reports that combine quantitative and qualitative research with original case studies and innovations to achieve your business objectives, click here.

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