New Media Devices
Research: Erin Mccann
Digital disruption and technological advancements like blockchain, 5G, and IoT, are creating a proliferation of new media devices. With new levels of interconnectedness, all digital devices are potential media devices, creating new media moments and environments in connected homes, smart cars, and public spaces. Media companies that create new devices are in a position to not only furnish content, but control distribution and data collection.
Integrated devices created for consumer environments will create controlled opportunities for companies to leverage consumer interactions and create vertical business models. The fitness industry is a good example of this trend. Peleton sells users not only an exercise bike but a subscription to access content. Peleton also amasses customer data.
Outside the home, where smart devices from thermostats to appliances to home assistants already thrive, personal commuter environments are a largely untapped space. While commuters use personal devices such as tablets or headphones, the public spaces themselves — waiting rooms, buses, trains — have yet to be integrated with media devices. Of course, such new devices (especially in public spaces) raise old ethical concerns about data collection and privacy.
Entertainment
New media devices can alter live experiences for audiences through personalization, interaction, and connectivity. Sports venues can offer new spaces for fans to interact with teams and on-field action. Theme parks could issue wearables that collect real-time consumer data to minimize wait time and maximize efficiency. Music festivals could implement LED-powered wristbands to enhance the live experience through personalized audience interactions.
News and Information
Traditional media companies can reach new audiences and markets by creating vertical business partnerships with hardware and device makers. Collaboration and partnerships will allow media companies to expand their capabilities and tap into new markets, creating new spaces for consumption and consumer-data collection. As media devices seamlessly integrate into in-home/ personal environments, this creates new distribution channels and increased accessibility to breaking news and information.
Positioning
Data from in-home media devices can be utilized to find new market leads or actionable consumer insights for brands. The transformation of basic commuter environments — cars, buses, trains — into interactive media hubs will provide new areas of entry for marketing and advertising efforts.
Compelling startups
MakeyMakey, Santa Cruz, California
Turn objects into a keyboard or touchscreen.
Wearable X, New York
Haptic clothing that uses vibration and other sensations to give wearers feedback.
UPshow, Chicago
Turn screens into opportunities for consumer engagement.
Additional Resources:
• The Internet of Things will power the Fourth Industrial Revolution. Here’s how / World Economic Forum
• Will smart home tech make us care more about privacy? / TechCrunch
- The future of the Home of the Future / The Verge
