Reading Week 2: Opportunities and Trends in The Global Entertainment Industries

Chris Lederer & Megan Brownlow’s study on the changing statistics of the Entertainment and Media companies and how they’re profiting from different forms and types of media just goes to show the ever changing trends and how in order to survive in this industry, we’re required to adapt according to the technology we’re faced with – which in turn changes the values, wants and needs of society.

We begin to see many changes to the E&M Industry, with the introduction and advancement of the internet, more and more individuals are profiting from online businesses, however older companies tend to use it as a means of expanding their advertising border, hoping to target a much larger demographic.

All of these studies shown in Lederer and Brownlow’s research has eluded to the fact that with these changes in technology and social values, more and more companies are in higher demand of those individuals who are in touch and familiar with the workings of these technologies, who are capable of utilizing their familiarity to help keep the business afloat.

However this also means that more younger people are starting their own business due to the ease of access they have to the vast technology and the fact that the internet has now become a means of connecting to those who prefer to have an easy to access means of shopping/consuming.

Reading Week 1: Megatrends

In Klaus Schwab’s on the changing nature of the world, he explains the possibility of a fourth industrial revolution for the planet that’s happening right under our noses; basically categorizing them into four ‘main physical manifestations of the technological megatrends’:

  • Autonomous vehicles
  • 3D Printing
  • Advanced robotics
  • New Materials

Although that’s only scratching the surface of world technological advancements, with the rise and expansion of networking and connecting with each other as a species through highly advancing technological aspects such as the internet – it’s evident that new media and new technology go hand in hand as it has bolstered our advancement rate substantially.

With this however, Schwab points out that ‘The fourth industrial revolution is not only changing what we do but also who we are’. This highlights the risks as well as gains in exploring this uncharted territory known as new media. Schwab mentions our notions of ownership, consumption and privacy are subject to drastic change as technology continues to further advance.

By the time the fourth industrial revolution is over we as a society and a species may hold different values and ethics depending on the technology that we now use. This raises questions as to whether or not we can control the shaping of society or whether we can only sit back and observe the changes according to constant changing public interests.

Hence why there’s a demand for workers, willing to grasp and embrace new media and willing to face change, after all, it’s in our nature to adapt when the situation requires us to.