The digitization of the Media, Entertainment & Information (MEI) industry has established new opportunities for consuming, sharing and creating media content through a growing number of devices and platforms – at any time and from any place. Today’s media content and advertising are distributed online and disseminated through social networks and digital platforms. As engaging with digital media grows easier, so does the time dedicated to content, platforms and services. New platforms and changing consumption patterns affect an individual’s everyday life and social interactions, alter how work is done, and impact learning and civic action.
Changing digital media consumption patterns and their impact on society are direct consequences of the fourth industrial revolution.5 The World Economic Forum is committed to helping organizations in both the private and public sectors to navigate through this transformational change. The Shaping the Future Implications of Digital Media for Society project is one of many initiatives from the Forum to stimulate multistakeholder collaboration in addressing some of the implications on society of this fourth industrial revolution. More specifically, the project looks at one of the MEI industry’s roles in this revolution.
The objective of Digital Media and Society, a report that is part of the Forum’s project, is to provide insights on today’s emerging MEI consumer, focusing on the factors that shape an individual’s behaviour and preferences for digital media usage. Additionally, the report links those developments to broader impacts on the individual, organizations and society, highlighting the opportunities and benefits, as well as the risks and potential downside.
After a “wild childhood”, it is now time for digital media’s “coming of age”. Industry, the public sector, and the individual must assume responsibility for fostering the opportunities offered by digital media, while helping to mitigate the negative effects on individuals, organizations and society.