On December 30 Gulf News published a compilation of local and worldwide media personalities’ forecasts for the media industry in 2011. Contributors including Bertrand Pecquerie, Director of the World Editors Forum, Kris Viesselman, President and Creative Director of San Diego Union Tribune, and Gilles Demptos, Director of Publications at WAN-IFRA.
This was my contribution:
Future Exploration Network, Chairman
I firmly believe that the future of the media industry as a whole is extraordinarily bright. We are discovering quite how media-hungry humans are, and we can now see that business will revolve around the flow of information and ideas. Yet a segment of the media industry — notably some of the newspapers and broadcast TV companies in developed countries — are experiencing severe challenges, not least because they have failed so far to dramatically change themselves to adapt to a new world. My fervent hope is that these organisations take the often radical steps required to transform themselves and grasp the massive opportunities available today to dynamic media participants. Some of these troubled organizations will successfully make the transition. The reality is that more will not. Those media companies that are already thriving, together with a flurry of new start-ups, will participate in creating an entirely new media space, and taking their share of the value from that. Social news curation, crowd sourced journalism, multi-platform distribution, personalized advertising and tablet media will be just some of the key trends shaping the year ahead.