Following the first week’s topics EMPOWERMENT, EXPERIENCE and ENTERPRISE, this reading dives deeper into the idea of strategy and business. It is all about the media industry multi-shifting, where powerful trends (technological and social) are changing the entertainment and media industries. The main shifts within the industry are demography, competition, consumption, geography and business models. These all influence and play off each other. The main ones that stood out the most was demography and consumption. Last semester I was involved in created an augmented reality app, investigating how information will be stored and used in the future for educational benefits. It was about giving people the opportunity to learn through modern technology. It is the younger consumers that are rapidly adapting their abilities to multitask different media’s. Do they multitask well? How are they multi-tasking? They will be the future of trends, and they will determine where the future will head in terms of media and entertainment. They are influencing how we create media, how we use media and where is media is heading. Does that mean we will all be walking around with augmented reality glasses, giving us information as we walk down the street? What if you were at school and learning about the solar system and could put on glasses and be right next to the moon or orbiting around earth? We are so digitally driven, suggesting behaviours for the consumption of media. Keeping up with these trends for creators, means that you have to have the “ability to design and curate your own media diet, which is the most powerful trend emerging out of the industry“. The content that that creators decide to use will determine how their idea differentiates to the rest, and how it could have the potential to expand globally. This reading tends to lean more towards the theme enterprise, as it thinks of the entertainment and media industry as an enterprise as a whole and where it will end up and how; what makes it change; how it will grow; and what will be the future of this industry.
This reading really taps into the idea of what my group wants to do for our final assessment, that is: Developing the future of augmented reality through education and social interactivity. We really need to find out the trends, the growth and the market within this section of the industry. This is what will drive our idea – the younger generation and the trends that are expected to thrive globally in the future. Pairing the trends with the different content that would be created this would help with the sections: demography, competition and consumption.