Updated: May 3
By Zixin Zhong, Social Media Coordinator Research Assistant
This January's Digital Media at the Crossroads conference brought together
industry leaders and innovators to discuss the future of digital media. The event began with an update of the numbers from the report —Canada's Digital Media World: Measuring Revenue, Audience and Future Prospects—outlining the expected future of Canadian production in film/TV, music and digital media. AM&E alumni and professors played an essential role in this year's DM&X. AM&E alumni, Zoe Chronic Brown (MBA/MA 2021) and Hong Yoong (MBA 2020), and Peter Lyman (Adjunct Professor, Schulich School of Business, Co-CEO, Senior Partner of Nordicity Group Ltd) were among the speakers who participated in the discussion. The conference also focused on legal issues in the Canadian media industry, such as discussion about Bill C-11, the Bill C-18 and their possible impacts on Canadian production and journalism if enacted. About this topic, Doug Barrett (Adjunct Professor, Schulich School of Business) shared insights on What Should Qualify as Canadian Content with the enactment of Bill C-11. While Lisa de Wilde (Bell Media Professor, Schulich School of Business) mainly talked about the Traditional Media at the Crossroads.
A report by Nordicity was commissioned for the conference to provide a comprehensive analysis of the digital media landscape. It highlights that the digital media industry is rapidly evolving, with new technologies and platforms constantly emerging. This has resulted in a highly competitive market, where companies constantly try to adapt and innovate to stay ahead. The report notes that traditional media companies are facing significant challenges from digital platforms, such as Facebook and Google, which have disrupted traditional revenue models.
The report also highlights the importance of regulation and policy in shaping the digital media industry. It notes that regulatory frameworks are struggling to keep up with technological change, which can lead to a lack of clarity and consistency in how the industry is regulated. The report suggests that policymakers need to take a more proactive approach to regulating the digital media industry, to ensure that it operates in a fair and transparent manner.
Another key theme of the conference was the importance of data in the digital media industry. The report notes that data has become a critical asset for companies operating in this space, enabling them to better understand their audiences and deliver targeted content and advertising. However, the report also highlights concerns about data privacy and the need for greater transparency and accountability around how data is collected, stored, and used.