Current Trends Creative Industries
We are living in the experience economy!
So, wouldn’t it be helpful to know what the hell we should be experiencing?
YouTube is the third most visited website in the world (after #1 Google, & #2 Facebook). Every minute over 100 hours of video content is uploaded to the video-sharing site
The internet is Information Overload incarnate. YouTube has more content than a person could watch in a hundred life times (99 of those lifetimes would probably be filled with cat videos). Yet, few YouTube users spend their time navigating through unchartered content. Instead, a few videos become mega-hits. One of the greatest strengths of YouTube is that —despite its near-limitless back catalogue— it fosters a certain kind of shared experience that consumers seem to crave
This is representative of the internet at large. There has never been more content, but people sheepishly flock towards whatever is popular. For the creative industries, this content explosion is at once both a blessing and a curse. It’s never been easier to get work into the public, but there has never been so much competition. Still, the benefit of the internet is that the entire world (except North Korea, I guess) can find access to your video, blog, or eBook. I believe that good content will get noticed
Oh, North Korea!
North Korea propaganda magazine depicting Kimjongilia
Serious question: are there any non-propaganda magazines in N. Korea
Podcasting Oblivion and the Video Revolution
I believe the future of the web is video. The true digital revolution will arrive when surfing the web (do people still use that phrase?) is as easy as watching television. With the proliferation of smartphones, this revolution seems a lot closer today than it did a decade ago
If video is the future, why does it seem that everyone and his brother has started a podcast? And … if I believe that video is the future, why did I start podcast?
For many podcasts, a majority of listeners download episodes on mobile devices. The rise of podcasts has accompanied the exponential growth in smart phones. For battery-challenges smartphone podcasts are a near perfect marriage of medium and machine
But I think there is an underlying psychological reason for podcast proliferation. There is sadly, a vast majority of internet users who lack a balance of meaningful relationships in their non-digital lives. By design, podcasts represent an intimate relationship. The same theory also applies to the resurgent popularity of audiobooks. In fact, Amazon now owns audiobook giant Audible
At present, there seems to be a splurge of (not all that interesting) podcasts on every subject. But we are reaching a point where the market will be over-saturated by similar podcasts. Many podcasts (even good ones) quickly fade into oblivion. There will always be a stream of original podcasts, but we are near the high water mark for new launches. This is a boom and bust cycle familiar in the creative industries
There already is pushback to podcast overload. But the podcast start-up era will not conclude with any real soul searching. Instead of real analysis of why some podcasts worked and others did not, content creators will simply jump on the next wagon: video blogging
The video push is coming. This is evident from recent software updates from big (and widely) used players in the social media field. Consider that Snapchat just recently made a quiet acquisition of the streaming company AddLive. Shortly after the acquisition, Snapchat revamped their app to include their own version of Facetime
As goes Snapchat … so goes the world (or at least the market)
I recently sent (and saved) this very important Snapchat