Digital media has witnessed enormous consumption over the past fifteen months. The use of digital medium has doubled during the COVID-19 pandemic period and is expected to grow exponentially in times to come post-pandemic. With people cooped up within the confines of their homes, the form of media that everyone seems to turn to for news bulletins is social media. Communicating his views on the future trends of digital media, Mr. Kailashnath Adhikari, Managing Director of Governance Now, A Sri Adhikari Brothers Enterprise, opens up on how digital media is bound to supersede the traditional patterns of news and information consumption.
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He addresses the significant changes ushered in by technological advances made within the sphere of digital media. For one, the COVID-19 pandemic has created a niche spot for digital media in our lives by bringing all news updates at our disposition with a click of the mouse. With the rapidly evolving habits around the use of digital media, there is a string of possibilities that one couldn’t have imagined perhaps ten years ago. The online way of life, essentially centered around the purchasing of products and services, sharing information, and communicating virtually across geographies, has emerged as the ‘normal way of life for people across the globe. Now, a larger number of people are spending a significant amount of their time on social media, playing online video games, conducting businesses across e-platforms, watching content over OTT platforms. These multitudinous activities have now made digital media all the rage in the 21st century. Our country is observing a new ground of content capacity that the industry holds. Digital business models are now marching towards unique ways of capitalizing on and exploiting the recent technologies for professional benefits.
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Speaking about the digital domains that are believed to thrive post-pandemic, Kailash proceeds to elucidate how it becomes important not to lose sight of the promising digital business opportunities. It is quite evident from the remarkable changes in the digital media that the opportunities hold all the potential to emerge as long-standing shifts in the digital space after the world comes out of the pandemic. Data-enabled healthcare initiatives will expand, and with the right privacy limits in place, an opportunity for various data and AI specialists to come up with a satisfying solution will automatically lessen the risks of contagion. Besides this, E-commerce will undergo a deeper transformation as it promises a permanent solution if folks remain wary of mingling in everyday life.
Making headway, Kailash throws light on what the future holds for digital media when it comes to video streaming, gaming, social media, and digital collaboration tools. As companies are rapidly and constantly moving towards remote working, the market for digital collaboration tools is bound to gain momentum. Furthermore, people will prefer AR and VR experiences to move out for movies, concerts, and events.
Moving on further to talk about the future of digital media, Mr. Kailash cites a few recent studies to highlight how India is expected to have a billion digital users by the year 2030. It may be safe to say that the digital mechanical phenomenon will boost the addition of the new users by catering to them with the comfort and confidence of the present digital group. The OTT platforms will attract more users and subscribers. So, monetization will no longer be considered a milestone. Instead, it will become a new normal for most of the digitally available content firms. The digital media is all set to bounce back and make a tremendously convincing move post-pandemic that will not only bring back employment opportunities but will sway a huge number of people towards digitally available content, products, and services.
