Recap on Innovation in Media and Communications
Missed Def Method’s last event, Innovation in Media and Communications? Here’s the rundown on what happened.
Are media companies turning into tech companies? Are tech companies turning into media companies?
“Media companies have to become tech companies to survive,” said a media turned media-tech professional attending the event. Joe Leo, the president of Def Method, moderated the panel of tech professionals at media and communications companies. We had a very insightful panel of four speakers who covered the gamut of media topics, from bubbles in the news, to the future of VR/AR, democratization of filmmaking, and trends in advertising.
Andrew Fader, VP of Engineering at Publicis Media @andrewfader
Taher Baderkhan, CTO and Co-Founder at YouVisit @TaherBaderkhan
Marco Carag, Director of Software Engineering at XO Group Inc @marcocarag
Liz Berg, Senior Product Manager, Data and Revenue
Here are some notable quotes from the evening:
On bubbles in media:
"One of the biggest failures of media is to create a space where people can speak their minds civilly and without causing controversy."
"Regardless of whether you're a radio station, you have to acknowledge that the bubble is there. Even if your message is extreme and targeted, you might not be able to penetrate the bubble. With reinforcement, especially with things people emotionally connect with, there's a transformation that can happen."
"How do you connect with people who put up the wall in media spaces? There was a study that came out about people who don't believe in facts anymore. If you bring stories out of the political world and back into the human world, that's a good place to start."
“More and more media organizations are being turned in to membership models. They need to think about how they'll be perceived by their donors and users.”
“I see some parallels in Patreon, where they'll sign on and take fees from their users and people are okay with this because they want to support their favorite artists."
On digital advertising:
"Video production is democratized these days. If you have any opinion at all, you can put it out there on video and start to cultivate an audience. Affiliate based Youtube channels are selling makeup and tech products. Viewers doing giveaways. It's personal towards community and the producer of the content and having brands align with that is more compelling than traditional advertising models."
"These days, it's all about monetizing the eyeballs. It's really the data. Whatever the company you're viewing content or buying something from, the assumption is that the data is the product. You are the product. What you do online is the product. They make an advertising profile on you."
"We have to incredibly respectful as our mandate as a public service. Any data we collect has to be anonymized. We have a mission to continue doing what we do and we raise money from our donors and listeners. Having a light touch and being in touch with what would be useful to our listeners first is to keep that in mind.
"Increasingly we live in a world where we have intelligent speakers that are listening to us all the time. If you say something in the room, Alexa will hear you and you'll be sold something on Amazon next time you log on. Sometimes it's helpful and sometimes it's an invasion of privacy. If it's invasive, people have the option to opt out."
On virtual reality and augmented reality:
"I think with Augmented Reality and Virtual Reality, there are a lot of opportunities. Especially with A/R. V/R requires a headset which asks a lot from a consumer. With A/R you can use your existing device and use it to augment your reality. One of the biggest implications in A/R is the ability to do indoor navigation. It will increase the adoption of A/R. If you're going to Whole Foods and you have your shopping list, a lot of people hate shopping because they spend so much time finding items. With A/R, you put the list in the app and it will show you which aisle to go to and which shelf to go to."
"One of the scariest things for A/R is facial recognition, which is the ability to know who someone is by looking at their profiles. I'm pretty sure there's going to be an app somewhere that can do that. The last thing you want is for the app to tell you who your friends should be."