Rise of new media: New forces of power dominate the media landscape

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Rise of new media: New forces of power dominate the media landscape

Rise of new media: New forces of power dominate the media landscape

Subheading text
From algorithms to influencers, the quality, veracity, and distribution of news media have changed forever.
    • Author:
    • Author name
      Quantumrun Foresight
    • February 25, 2022

    Insight summary

    The media industry has undergone a significant transformation, with public trust dwindling and new forms of communication taking center stage. Factors such as the polarization of news, the impact of the COVID-19 pandemic, and the rise of online platforms have reshaped the landscape, leading to a shift from traditional media outlets to digital platforms. This change has democratized the media, but it has also raised concerns about the spread of misinformation, the sustainability of quality journalism, and the need for regulatory oversight.

    The rise of new media context

    The media industry, once a beacon of transparency and factuality, has seen a significant shift in public trust over the years. In the early 1970s, around 70 percent of the public placed their trust in the media, a figure that has since dwindled to just 40 percent by 2021. A study conducted in the same year found that the US had the lowest levels of trust in the media, with only 29 percent of the population expressing confidence. This decline in trust can be attributed to various factors, including the increasing polarization and politicization of news, which has made it challenging for many to distinguish between factual reporting and misinformation.

    The 21st-century media landscape has become a breeding ground for divergent views, often influenced by political leanings. This transformation has made it increasingly difficult for audiences to separate genuine news from fabricated stories. The situation was further complicated by the pandemic, which not only disrupted the flow of advertising revenue but also accelerated the decline of print newspapers globally. This development led to significant job losses in the industry, further destabilizing an already precarious situation.

    In the midst of these challenges, traditional forms of media, such as newspapers and cable news networks, have been largely supplanted by new forms of communication. These forms include websites, online video streaming, social media platforms, online communities, and blogs. These platforms, with their vast reach and accessibility, have given the public and aspiring journalists the ability to share their views and stories with a global audience. This shift has democratized the media landscape, but it has also raised new questions about the role and responsibilities of media in the digital age.

    Disruptive impact

    The rise of online media platforms and social networks has significantly altered the way information is disseminated in our society. Celebrities and influencers, armed with their smartphones, can now share their views with a global audience, shaping public opinion in ways that were previously the domain of professional journalists. This shift has forced traditional media outlets to adapt, establishing a strong online presence and growing their digital following to remain relevant. 

    In response to these changes, the business models of many media organizations have evolved. Long-form journalism, once the standard for in-depth reporting, has been largely replaced by subscription and membership models. These new models allow media outlets to reach their audience directly, bypassing traditional distribution channels. However, they also raise questions about the sustainability of quality journalism in an era where clickbait headlines and sensationalism often garner more attention.

    The use of algorithms to direct content to specific audiences has further transformed the media landscape. This technology allows independent journalists and broadcasters to reach their target audience more effectively. However, it also enables the spread of biased or misleading content, as these algorithms often prioritize engagement over accuracy. This trend underscores the need for media literacy and critical thinking skills among the public, as well as the need for regulatory oversight to ensure the responsible use of these powerful tools.

    Implications of the rise of new media

    Wider implications of the rise of new media may include:

    • The ability to broadcast biased messaging at scale, leading to increased conflict and the promotion and entrenchment of polarization and intolerance.
    • The diminishing credibility of general news reporting due to the multitude of media options available for public consumption.
    • Increased sensationalism by media outlets as a means to drive increased views among its audience and compete against new media.
    • New opportunities in digital content creation and social media management.
    • More polarized political landscapes as people are exposed to more extreme viewpoints.
    • The use of algorithms to target content leading to the creation of "echo chambers," where people are only exposed to viewpoints that align with their own, limiting their understanding of diverse perspectives.
    • Increased energy consumption and electronic waste as more devices are needed to access digital content.
    • Greater scrutiny of tech companies as governments seek to regulate their influence and protect user data.
    • A rise in citizen journalism enhancing community engagement and local reporting.

    Questions to consider

    • In the face of increasing numbers of new media platforms, what is the best way to counter the spread of misinformation?
    • Do you think the evolved media landscape will reach the levels of public trust once enjoyed by the media profession decades ago?

    Insight references

    The following popular and institutional links were referenced for this insight: