The media industry is going through one of the most problematic eras in its history. From online sources to written press, the avenues for sharing information have multiplied in recent years. However, instead of increasing transparency, professional media faces propaganda and fake news accusations.
Furthermore, most media consumers demand an accelerated modernization process that most media cannot support. The traditional news industry faces a complete overhaul, like the transition from cash to digital payment systems like Art Payments.
This article analyzes the historical challenges daunting the news and media industry. Also, it tries to forecast how these testing times will change our news-consuming habits.
What is the Media Industry?
Before we dive deeper into our analysis, let’s refresh our media and news industry notion. For instance, media is the content-sharing medium connecting creators or broadcasters with an audience.
Generally, media organizations consist of individuals that generate, process, and share information. Depending on the distribution channels they choose, they can represent TV, radio, written press, online websites, social media, etc.
However, the “media” is not foghorn blasting news into the ether to anyone who has ears to hear it. This is a two-way process that involves the mandatory existence of an audience. Without listeners, viewers, readers, and followers, spreading information is nothing more than making noise.
This relationship between broadcasters and their audiences influences how the former creates and spreads content. In other words, consumers have a say in which they wish to receive information. And the media has to adapt to these requests. That’s why, nowadays, it faces never-before-seen modernization demands and challenges like the ones below.
A Lack of Transparency
A century ago, people cared less or at all about the people running the newspapers or radio stations they preferred. Nowadays, content consumers are more careful about the sources providing daily information.
For instance, many media outlets are not fully independent nowadays. Some have connections with political parties, corporations, and other entities. Therefore, they are interested in tweaking news stories to fit a specific narrative.
As more media organizations enter the influence spheres of global corporations and political interests, they struggle to remain transparent. In the short term, they may stay afloat. However, they will lose most followers who see them as nothing more than biased bullhorns in the long run.
Cyber Attacks on Media Channels
Another challenge to the news and media industry is cybercriminals and hackers. In this digital era, hacking media accounts and websites has become easier than ever. As a result, many media organizations have to spend heavily to beef up their security protocols.
Hackers can take hold of a prominent media outlet and use it to spread fake news or malicious information. This could compromise the organization’s image and the relationship with its audience.
Nowadays, the news and media industry is under heavy pressure to securely deliver truthful, transparent information. Unfortunately, this feat gets trickier every year with the advance of the corporation and political control and the threat of cybercrimes.