While we’re seeing a reduction in time consumers spend watching TV and consuming other so-called “old media,” that decline is being offset by increases in time spent with digital media. In 2019 the total time people spent consuming media in the U.S. was more than 12 hours per day, and more than half of that — six-and-a-half hours — was spent on mobile, tablet, and other digital apps and services.
At the same time, it has never been easier to create media, find an audience, and become a media company of one. The widespread availability and use of user-friendly creative tools means that people are no longer just consuming content but are becoming a more active part of the creative process.
And that’s just the beginning. The adoption of new technologies based around artificial intelligence (AI) and synthetic media will further democratize the ability for creators to make highly engaging and interactive content at a much lower cost, which will in turn enable new creative formats and business models to flourish.
Read more about the next wave of media formats, here.