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New Media Models by Diana El-Azar, ICCO Summit 2013

The 2013 ICCO Summit presentation on the results of the World Economic Forum's Global Agenda Council research on the Future of the Media by WEF Senior Director, Media, Entertainment and Information, Diana El-Azar. Presentation delivered on 11th October 2013.

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New Media Models by Diana El-Azar, ICCO Summit 2013

  1. 1. New Media Models ICCO Summit October 10-11, 2013 Diana El-Azar Senior Director, Media, Entertainment and Information
  2. 2. The Question(s) What are the trends affecting media and what will the future of media look like?
  3. 3. Global Trends Affecting the Media Industry Based on a Forum survey conducted in summer 2012 of over 1200 executives Geo-political and demographic Role of Business • Lack of public trust in business Technology • Demographic changes and the rise of the middle class Emerging markets challenge • Pressure to achieve sustainable consumption • Talent/Skills mismatch • Innovation in Education Empowerment of Individual • Hyperconnectivity • • • Freedom of expression/intellectual property/privacy nexus
  4. 4. Our Hyperconnected World What does leadership in a hyperconnected world look like? Transparency & Accountability Velocity and Volatility Complexity and Interdependence Empowered Individual
  5. 5. Our Hyperconnected World What does leadership in a hyperconnected world look like? Transparency & Accountability Complexity and Interdepence ‘Everyone is naked, so you better have a toned body’* Velocity and Volatility Empowered Individual * Quote inspired by Dan Tapscott’s The Naked Corporation: How the Age of Transparency Will Revolutionize Business, Free Press, 2003
  6. 6. Our Hyperconnected World What does leadership in a hyperconnected world look like? Transparency & Accountability Complexity and Interdependence Large number of interactions, net work effect and unintended consequences Everyone is naked, so you better have a toned body’ Velocity and Volatility Empowered Individual
  7. 7. Our Hyperconnected World What does leadership in a hyperconnected world look like? Transparency & Accountability Complexity and Interdependence Large number of interactions, net work effect and unintended consequences Everyone is naked, so you better have a toned body’ Citizen journalism, crow dfunding, sharin g economy Velocity and Volatility Empowered Individual
  8. 8. Our Hyperconnected World What does leadership in a hyperconnected world look like? Transparency & Accountability Complexity and Interdependence Large number of interactions, net work effect and unintended consequences Everyone is naked, so you better have a toned body’ Citizen journalism, crow dfunding, sharin g economy ‘Fundamentally nothing has changed’: only everything is much faster and effects are amplified Velocity and Volatility Empowered Individual
  9. 9. Our Hyperconnected World What does does it mean for brands? Transparency & Accountability We know more We have less control Velocity and Volatility Complexity and Interdependence We’re in this together We can do more Empowered Individual
  10. 10. The Future of Media Survey • Conducted by the World Economic Forum Global Agenda Council on the Future of Media in spring 2013 • Sent to 88 chairs of the Global Agenda Council network, who then sent it to their 14 members (senior leaders from business, public sector, academia, think tanks) • 4 weeks to respond, responses administered by the European Union DG Connect • Potential out reach is to 1320 participants but we cannot be sure that all chairs actually sent it to their whole network • 108 respondents • This is NOT a scientific survey, not a general public opinion survey. • All data is public. If interested, please visit the survey and the results at: http://gac.futurium-lab.eu/
  11. 11. Highlight of Results What will media look like? Media is about ways in which news, information and entertainment content is or will be produced, distributed, superdistributed, consumed, linked, socially mediated, debated and fed back? • Key conditions for media to thrive in society: ‘access and digital literacy’, ‘open digital society’ and ‘inter-cultural awareness’ • Key future characteristics of media: ‘hyperconnected’, ‘borderless’, and ‘participatory’ • Elements still lacking: ‘accountability’ and ‘responsibility’ • Biggest obstacles: ‘accuracy of information’ and ‘trust’
  12. 12. What does this mean to the PR industry • Trust in the brand vs the people using the brand • Too much focus on the individual vs the network? (smartest person in the room is the room) • Do you treat consumers more than walking wallets? • How implicit are brands in re-inforcing a «closed perspective» loop? • Impact beyond customer brands: your own talent
  13. 13. Reactions and Comments?

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