These new power dynamics rise out of simultaneity of audiences' desire for control over data, increased consciousness of the value of their data and the tools to trade it for the rewards they desire. Decentralised tech and platforms will create new opportunities for experience rich, dynamic relationships between brands and audiences.
DAOs will enable participants to contribute to the direction of brands and NFTs will be a key component in brand strategies, shaping the future of loyalty programs in the Web3 era.
AI and data algorithms transform consumers from a passive receiver into co-creators or content and product. Right now, technology serves as a tool and not a participant but in the next decade, AI will become a collaborative partner — leveraging on it to express a clear vision of consumers' desires and expectations.
In the golden era of linear content, traditional media giants were the architects of entertainment. The power dynamics were crystal clear; producers created; consumers consumed. Web2 then signalled a significant rise with on-demand content. With the rise of Web3, DAOs and tokenised incentive programs are poised to challenge old norms, giving consumers even more control over their experience.
How will legacy entertainment brands take part in the new terms of the audience relationship?
In the next decade, traditional entertainment and consumer services will use gaming to expand their horizons with cross-category collaborations. From music, movies and TV to hospitality, wellness and more, these intersections will create a vibrant ecosystem of consumer experiences to cater to changing expectations from new audiences.
In the new data kingdom, hyper-personalisation will be baseline. AI smart devices will offer hyper-personalised leisure recommendations based on preferences, past purchases, location data and even biometrics, disrupting conventional content and entertainment discovery and enabling platforms to choose activities on behalf of customers.
By 2033, AI will evolve to potentially be a co-writer, co-director, or even the lead actor of stories. It will challenge our notion of creativity and originality. The decade ahead won't be about humans being dominated by AI, but about the collaboration of human and artificial forces to curate the best possible experience for audiences.
When AI suggest a storyline, will you listen? And when consumers leverage AI to show a clear vision of their desires and expectations, how will you respond?
Content will be built for, by and with each individual, and most importantly, content will be experienced. Stories will have endless entry points and formats, with minds of their own. Innovation now to next will be inspired by story and not technology.
We will enter this new world thinking of the content possibilities as limitless.
Extended Reality (XR) is a technological spectrum defined by how digital and physical realities and experiences interact. It encompasses the group of technologies that superimpose digital information onto the physical world and alter our perceptions.
The Metaverse is a collective virtual shared space, created by the convergence of virtually enhanced physical reality and physically persistent virtual space, including the sum of all virtual worlds, augmented reality, and the internet.
Many experts believe it has the potential to be much bigger than the web is today.
Imagine having a digital persona involved in each of the areas you're interested in engaging with. This new space we are occupying will give consumers a thrilling sense of freedom from the restrictions of the physical world. With the personal avatar as an extension of the self, consumers will have dynamic and autonomous features that can make the expression of identity online a more immersive and vivid experience than ever before.
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