FormatBiz | Axel Fiacco (Espresso) Shares Insights on the Future of the TV Industry

2024 will be remembered as a year of transition. It was the moment when everyone (or almost everyone) realised that the media system is changing in a profound and irreversible way, and that in the next future nothing (or almost nothing) will be the same as before. But the question is: where is the audiovisual world really going? How will the media system actually change? In short, what exactly is going to happen? Over the past few months, like everyone else, I have read all sorts of analyses and all sorts of predictions from all sorts of experts.

To be honest none of them convinced me completely because, in my humble opinion, they did not capture the whole of the changes and gave only a partial picture of what is going to happen, usually conditioned by their role: if they belong to the 'traditional' media, they underestimate the impact of the changes; if they belong to the online/digital or new technology world, they overestimate them.
The truth is more complex and nuanced, and must take into account many factors, not only of a technical and economic nature, but also the deep needs that audiovisual entertainment content satisfies.

To begin with, there are four main, intertwined drivers of change, which are as follows:
• The DIGITAL SHIFT - i.e. the gradual shift of the entire television system into the online dimension;
• The impact of ARTIFICIAL INTELLIGENCE on the media industry;
• The growth of the CREATOR ECONOMY, i.e. independent creators who have a direct relationship with consumers;
• The increasing role of BIG TECH in our industry, both through the streaming platforms they own, and through the AI tools that are increasingly being used in the media industry at all levels.

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