November is certainly one of my favorite instances of yr, as an analyst anyhow. Why? Because it’s when the MIDiA group pool their collective brainpower to formulate our end-of-year predictions. What offers our predictions their distinctive angle is that they’re constructed inside an inter-connected framework, factoring within the cross-industry traits that can form the approaching years. A music {industry} development doesn’t occur in isolation of social media traits, nor vice versa, and so forth. We boast a strong observe report, with an 88% success charge in each our 2023 and 2022 predictions, following 84% and 79% within the earlier two years. The report is out there to purchasers right here. Meanwhile, here’s a fast take a look at a number of the meta (not the corporate) themes:
· The algorithm isn’t listening anymore: This is our headline prediction and one which we expect may have far reaching influence throughout all types of leisure. Algorithms on massive scale platforms as soon as super-served customers, encouraging them ever nearer to their respective niches. Now algorithms are more and more pushing customers to the content material that helps platform monetisation priorities over consumer priorities. Users find yourself feeling that the algorithm isn’t listening to them anymore. This development will intensify in 2024 among the many world’s greatest shopper platforms, leading to consumer dissatisfaction and making a window of alternative for brand new, user-need-focused platforms, beginning the cycle over again.
· Creation as consumption: If the late 2010s and early 2020s had been the period of the creator, the rest of the approaching decade will change into the period of the buyer creator. The proliferation of consumer-focused creator instruments on main social platforms and past, will herald the following section of the consumerization of creation. Not solely will this see extra content material be consumer created (thus competing for consumption time), creation itself will change into leisure, thus including to the competitors for time.
· Rise of the threataverse: The metaverse might really feel like a bus that by no means fairly arrives, however one thing far more tangible is already gaining scale – the threataverse. This is the rising development of social platforms turning into poisonous environments by which variety of opinion is reworking into intolerance, divisiveness and hate speech. Accentuated by bot farms and clandestine actors, enabled by failing platform moderation insurance policies, social platforms are shifting from locations to share opinions, to platforms the place extra reasonable voices now not really feel protected to talk up. Threats, bullying, pretend ‘facts’ and aggressive counter-commentary have created the brand new defining framework of the web social world – the threataverse.
· The future might be gated communities: Change is wrought as a lot by response as it’s by motion. The rise of the threataverse creates the foundations for what’s going to come subsequent: the shift from open-social worlds into gated communities, the place teams of like-minded people can converse protected within the information that they won’t be topic to abuse and assault. The early promise of ‘everywhere, everyone social’ has confirmed poisonous and unworkable. Expect extra social platforms, to ramp up gated neighborhood options. These may even show to be a boon for fandom. Artists and different creators will be capable to converse with followers with out having to fret about torrents of adverse discourse from customers who can presently occupy and even co-opt, their open fan areas.
· AI will proceed to reshape leisure: While the rights framework will proceed to be disputed and outlined in 2024, AI know-how will proceed to speed up, each in sophistication and adoption. It will discover its loudest voice within the consumerization of creation however its subtler and extra pervasive influence might be a gradual assimilation into artistic workflows, turning into an ever extra utilised set of instruments for creation throughout all types of leisure, from Chat GPT creating traces of code for video games, by Eleven Labs producing podcast narration, to Beatoven creating soundtracks for influencer movies.
Like what you’ve seen up to now? Then come and have interaction with MIDiA’s stellar analysts as they stroll by their industry-specific predictions in our free-to-attend webinar, the algorithm isn’t listening, on the 11th of January, 2024.You can discover the complete report right here with 32 predictions throughout music, video games, video, social, audio, and media and advertising and marketing.