Media took many stages of growth according to the stages of scientific and technological development in each age, beginning with primitive printing of newspapers for the first time in Germany in 1600. A few decades later, with the first industrial revolution and the speed of transport and communication based on steam and coal, national governments in Paris and London began to print official newspapers.
Then media began its development, the number of newspapers increased and news agencies appeared, and the emergence of “Reuters News Agency” in 1851 and its depending on the homing pigeon initially as a faster way to get the news, made a significant change on the news industry in that period.
With the beginning of the second industrial revolution, the mechanisation of newspapers and printing began, the number of daily publications and newspapers increased in European capitals, and after that the American researcher Thomas Edison discovered the electricity and the light bulb.
Then the rotary printing appeared by Richard March Hoe, which contributed in increasing the number of printed copies of newspapers in a record time.
Then the emergence of global radio networks, and then the invention of television and the emergence of the power of the media with its channels.
The third industrial revolution came to make a revolution in communications, computers, robots, micro-electronics, the manufacture of new materials and information technology to make major changes to the media, to hasten the speed of covering audio and video news to be covered at the time of its happening, and to transform the world into a small village. And what came after that, of the strength of Internet networks, social media and mobile apps.
The 4IR will provide the E&M sector with new tools, such as Internet of Things, Augmented reality, Virtual reality, Blockchain, Artificial intelligence, 3D printing, Drones and Robots, which will have a significant impact on the sector.
All of this is happening against a backdrop of continued global growth in industry revenue. The total global spending on entertainment and media will rise at a compound annual growth rate (CAGR) of 4.4% over the next five years. This boost will see the industry’s global revenue reach US$2.4 trillion in 2022, up from US$1.9 trillion in 2017, according to PWC Report.
Podcasts & Streaming Music – According to the report: “Total global music, radio and podcasts revenue will increase at a 3.6% CAGR from US$94.9bn in 2017 to US$113.4bn in 2022, with growth largely generated by the recorded music segment.
According to PWC Report, “Perspectives from the Global Entertainment & Media Outlook 2018–2022” across all segments of E&M, technology is enabling cheaper and more personalised content delivery. That is having the effect of squeezing out less efficient players, intensifying pressure on all links in the value chain and opening the way to the creation of new formats, such as e-sports. For all participants in E&M, cost efficiency is an important element of future viability. And the more traditional conglomerates, many of which have legacy cost structures in place, find themselves competing against challengers with different cost structures. This only heightens the sense of urgency with respect to investing in new technologies that can help companies compete more effectively.
As business models and capabilities change, it’s clear that data and analytics will play a pivotal role in E&M. Today, many companies still lack the data and analytics capabilities they need to deliver content, advertising and other experiences to the right users at the right time and in the right context – although this is clearly a high-priority investment area for many. As companies in E&M pursue new revenue streams, first-party data has emerged as perhaps the most valuable asset, according to PWC Report.
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