The media industry grows more complex every day as technology fuels changes in how audiences consume entertainment. World Screen magazine is an essential resource, consistently providing keen insight into the players and latest developments in both established and emerging media markets around the globe.
Generally, the technology that enables disruption is developed in the companies that are the practitioners of the original technology. That's where the understanding of the technology first comes together. They usually can't commercialize the technology because they have to couple it with the business model innovation, and because they tend to try to take all of their technologies to market through their original business model, somebody else just picks up the technology and changes the world through the business model innovation.
Rural technology is moving from kind of the back office to where everything, every company - sales, marketing, customer acquisition, new product development, media - all industries are becoming technology industries. And it's not information technology: it's business technology.
You know, I do music. If you look under the hood of the industry I'm in, it's all based on technology. From radio to phonographs to CDs, it's all technology. Microphones, reel-to-reels, cameras, editing, chips, it's all technology.
Societies or companies that expect a glorious past to shield them from the forces of change driven by advancing technology will fail and fall. That applies as much to my own, the media industry, as to every other business on the planet.
You realize that if you're in the media business, technology is fundamentally what's driving the change in that business.
The media has enormous power. The media is undergoing huge changes now. It seemed like it's time to step back and look at how the media shapes our lives and our perceptions of reality.
Everyone in the semiconductor industry, everyone in the technology industry, would benefit from more diversity in the business.
The other kind of market like technology is healthcare. Nobody likes the healthcare industry, but on the other hand, everyone wants to live longer. The way I look at it, there's going to be tremendous pressure with healthcare as a percentage of GDP rising with new technology, an aging population, and a business model that basically keeps people alive longer to consume more healthcare products.
The business changes. The technology changes. The team changes. The team members change. The problem isn't change, per se, because change is going to happen; the problem, rather, is the inability to cope with change when it comes.
I am in a traditional financial services business - but we at Fidelity can see that the evolution of technology is setting our industry up for disruption. What if this technology could do for the transfer of value what the Internet did for the transfer of information?
Why is it that big companies fail when the technology changes? It happens in every industry, so what's the pattern? What are they all doing wrong?
Innovation requires us to systematically identify changes that have already occurred in a business - in demographics, in values, in technology or science - and then to look at them as opportunities. It also requires something that is most difficult for existing companies to do: to abandon rather than defend yesterday.
My social media world is detached from my friendship world. I'll have friends in real life that I don't follow on social media, because I don't really look at social media as the way of connecting to friends. For me, social media is like a business tool.
Every single industry is going through a major business model and technology oriented disruption.
Sometimes we overemphasize the political system. There are other ways to make a difference. There's technology, there's media, there's business.