Post by account_disabled on Jan 8, 2024 22:58:18 GMT -8
HubSpot’s VP of Media Cyan Zhong Cyan Zhong Published: January 02, 2024 Just before the holidays I had a chat with HubSpot’s VP of Media, Jonathan Hunt. jonathan-hunt-vp-media Jonathan’s a badass innovator who's led marketing and audience growth for a long list of cool media organizations, from Complex Networks and National Geographic to Vox Media and VICE. So naturally I was curious where he sees the media business going in 2024. Here’s his take: Using AI in the media will go from gaffes and skepticism to necessity in 2024. This is the year media leaders, creators and operators start to make AI work. Source: Google Trends, six-month rolling average He’s onto something. The market size of AI use in media and entertainment reached $19.8B in 2023, a number that’s poised to 5x in 2030. Get more business ideas and trendy data in our weekly Trends Newsletter.
What’s Driving The Trend From newsrooms to film studios, the media industry is Telegram Number adopting AI en masse and feeling its impact on their work. Jonathan sees three forces driving AI to be even more embraced in media orgs this year: Efficiency Creating value for consumers is the unchanging rule in the media and entertainment world. If AI can continue to help creators and operators be more efficient, then it becomes a necessity and less of a threat. Personalization The world around us is already going in a highly personal and curatorial AI direction. It’s evident in: What we get served up in Google search results What we discover on Netflix and Spotify What newsletters we receive in our inbox The ingrained product experiences and editorial expectations of audiences determine how they engage. Media companies that get AI personalization right will win audience mindshare, and much more. Time AI may seem like a threat today, but so was data and video, once. Today they’re instilled in the DNA of modern media company cultures – you can’t think about creating and distributing content without the two.
But at one point, data and video were in the same bucket as AI. The companies that were early to experiment and make it work for them got out ahead and, in many cases, still are. How Media Leaders Will Make AI Work Despite many media orgs experimenting with AI, few have moved past experimentation and truly unlocked AI’s potential to help creators and operators on the ground. AI use in media is below the median maturity level. Source: Accenture Here are three ways media leaders can ensure AI have a real impact on their businesses in 2024: 1. They'll Stop Being Lazy Let’s get one thing straight: AI can’t be a shiny object to goose your share price, a top-down mandate, or the panacea for declining traffic and revenue. But in so many cases (like this, this and this), that’s how it’s seemingly been deployed in media teams. This is not only aggravating existing concerns around AI use and ethics – and rightfully so – it’s also just lazy. The leaders that succeed in 2024 will be the ones that do the work of making AI work, largely behind the scenes, for their media businesses. 2. They'll Build Proper Systems
What’s Driving The Trend From newsrooms to film studios, the media industry is Telegram Number adopting AI en masse and feeling its impact on their work. Jonathan sees three forces driving AI to be even more embraced in media orgs this year: Efficiency Creating value for consumers is the unchanging rule in the media and entertainment world. If AI can continue to help creators and operators be more efficient, then it becomes a necessity and less of a threat. Personalization The world around us is already going in a highly personal and curatorial AI direction. It’s evident in: What we get served up in Google search results What we discover on Netflix and Spotify What newsletters we receive in our inbox The ingrained product experiences and editorial expectations of audiences determine how they engage. Media companies that get AI personalization right will win audience mindshare, and much more. Time AI may seem like a threat today, but so was data and video, once. Today they’re instilled in the DNA of modern media company cultures – you can’t think about creating and distributing content without the two.
But at one point, data and video were in the same bucket as AI. The companies that were early to experiment and make it work for them got out ahead and, in many cases, still are. How Media Leaders Will Make AI Work Despite many media orgs experimenting with AI, few have moved past experimentation and truly unlocked AI’s potential to help creators and operators on the ground. AI use in media is below the median maturity level. Source: Accenture Here are three ways media leaders can ensure AI have a real impact on their businesses in 2024: 1. They'll Stop Being Lazy Let’s get one thing straight: AI can’t be a shiny object to goose your share price, a top-down mandate, or the panacea for declining traffic and revenue. But in so many cases (like this, this and this), that’s how it’s seemingly been deployed in media teams. This is not only aggravating existing concerns around AI use and ethics – and rightfully so – it’s also just lazy. The leaders that succeed in 2024 will be the ones that do the work of making AI work, largely behind the scenes, for their media businesses. 2. They'll Build Proper Systems