AI Business Consultant

3 Key Digital Media Trends shaping the Modern Landscape

26 April, 2024

The digital and media landscape is rapidly evolving, and it's crucial for businesses and individuals to stay ahead of the curve. As an avid observer and analyst of these trends, I've identified three key shifts that are transforming the way consumers engage with content and brands. Let's dive in.

1. Social Media Shopping

Social commerce is taking the world by storm. A staggering 58% of TikTokers have used TikTok Shop, with 26% making a purchase.1 This trend is driven by the powerful collaboration between creators, brands, and social media platforms, along with their advanced algorithms.

3 Key Digital Media Trends shaping the Modern Landscape

Social shopping offers a fantastic opportunity, particularly for smaller businesses. In fact, workers at small and medium-sized businesses are more likely to say their company has a TikTok account they use to sell to customers. By leveraging the influence of content creators, brands can tap into engaged communities and drive strong ROI.

The key to success in social commerce? Understanding the importance of creator collaborations. While social media can connect consumers with brands, many social shoppers turn to their most trusted sources for product recommendations and reviews: the creators they follow. By tapping into these communities, brands can unlock a goldmine of opportunities.

3 Key Digital Media Trends shaping the Modern Landscape

2. Fandom Cross-Platform Growth

Fans are a force to be reckoned with. Whether they're music enthusiasts, movie buffs, video game addicts, or sports fanatics, these passionate cohorts are willing to follow their fandoms across platforms and ventures, driving outsized engagement.

As an industry expert, I've observed that more people are watching sports on social platforms, especially combat sports, which have seen big jumps in engagement among unexpected demographics like mascara wearers and Forever 21 shoppers. This trend highlights the power of fandom and the importance of catering to these engaged audiences.

To capitalize on this trend, M&E companies should consider:

  • Strategically pursuing these fervent fan communities
  • Leveraging their own fan bases and leaning into their enthusiasm
  • Diversifying their fan base by exploring new platforms, like TV streaming services

By understanding the power of fandom and catering to these engaged audiences, brands can unlock a wealth of opportunities.

3 Key Digital Media Trends shaping the Modern Landscape

3. Traditional TV and Streaming Coexistence

While the rise of streaming has undoubtedly disrupted the traditional TV landscape, it's important to recognize that broadcast TV still commands the largest share of total TV time.

In fact:

  • 31% of consumers say they usually find new brands through TV ads, compared to 17% who find them via pre-roll ads.
  • Broadcast TV's reach has only recently dwindled, with 1 in 10 internet users saying they don't watch any broadcast TV on a typical day.

The path forward lies in leveraging the strengths of both traditional TV and streaming platforms. Broadcast TV can be a powerful tool for reaching specific target audiences, while streaming providers can learn from the success of social media and content creators to create more personalized, shoppable, and social experiences.

By embracing this hybrid approach, the media and entertainment industry can reinvent the medium and deliver truly contemporary content and experiences to modern audiences.

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