Every media business must now think technology first when creating a new product.
In our ever-evolving digital landscape, it’s become evident that for traditional media companies to thrive, they must redefine their core, not just as content producers but as technology-driven entities. I was recently reminded of the urgency of this transformation during a visit to a pioneering European publishing house, which has fully committed to its identity as a ‘tech media company’.
The world of media has always been about storytelling, but the means through which these stories are told and consumed is rapidly shifting. Think about it: our grandparents relied on the morning newspaper; our parents, on evening television broadcasts. Yet, the current generation gets their news from smartphones, podcasts, and various digital platforms, all of which are powered by technology.
At this European publishing house, it was evident from the outset that technology isn’t just an enabler; it’s at the forefront of their strategy. Their editorial teams sat side-by-side with data scientists, UX designers, and AI specialists. Their daily discussions were not just about ‘what’ stories to tell, but ‘how’ they should be delivered to ensure optimal engagement and reach.
Their mindset shift from being a mere content creator to a tech innovator has allowed them to harness the power of data analytics, ensuring that their stories are not only relevant but also delivered when and where their audience is most likely to consume them. They’ve developed proprietary algorithms to predict content trends, ensuring that they’re always ahead of the curve. By embracing technology, they’ve exponentially increased their global reach, outpacing many of their traditional media counterparts.
But why is this shift so crucial for all traditional media companies? The answer lies in the nature of today’s media consumption. In a world of algorithms and personalized feeds, technology determines visibility. To be seen and heard, media companies need to master the intricacies of this digital ecosystem, making technology an integral part of their DNA.
To the traditional media houses hesitant about this transition, take heart. This isn’t about abandoning your roots but rather strengthening them with the tools of today. The heart of media will always be about stories, emotions, and connecting with audiences. By becoming tech-first businesses, you’re ensuring that your stories don’t just survive but thrive in this digital age.
