A few decades ago, it would be outlets like radio, TV, and newspapers dominating the media. However, now in 2022, we are able to consume content from a whole range of next-generation media companies.
In the past few years, modern news outlets and lifestyle content platforms – which can be comparable to traditional media companies – have become a prime example of how digital content-driven, boutique in size, and start-ups by nature have cemented their place in the lives of many.
The pandemic can be seen as a key driver of these new companies, fueled by people’s demand for updated and relevant news – and of course the increase in people looking for at-home entertainment during lockdowns.
But, with the rise of these companies, how can they take advantage of modern solutions such as flexible workspaces to take their operations further?
What's next for next-generation media companies?
The world of business is changing at an extremely fast rate and it’s something that all businesses will either have to do their best to keep up with or risk falling behind and losing out to their competitors.
Here are some of the key trends and opportunities that new media companies should be aware of in the next few years.
In the past, people used to consume content by reading the newspaper or tuning into the evening news. Now, digital media has become a lot more interactive and engaging.
We can now consume media at any time that suits us, from the middle of the night to the first thing in the morning. This has been heightened by the pandemic when the audience’s interest to engage online has soared.
This growing demand from people to consume relevant content 24/7 has led to a large change in the media industry. Online media outlets are seeing more visitors than ever before and the news cycle has become a lot quicker and more reactive.
To cope with the changing attitudes of audiences toward online content, it’s important that new media companies invest their time, resources, and money into a strong IT infrastructure that can support a range of virtual engagement functions.
Media companies now need to ensure that the IT infrastructure is fit to cope with large volumes of online users and be reliable enough that it can support the needs of readers even outside of normal office working hours.
Digital and hybrid events
Events have long been a successful marketing strategy that media companies use to engage with readers, attract new customers, and solidify their brand image.
Although traditional companies have become experts at running in-person events, the pandemic meant that most of these events had to completely stop. The move to digital events may not have been the smoothest, but it’s something that many media companies have now adapted to.
Now that the world is starting to return to normal, it’s important for media companies to perfect both types of events – both in-person and digital. This new hybrid event focus can maximise a company’s reach – especially with readers who may be outside of the company’s target countries – while boosting revenue and engagement.
For next-generation media companies, finding flexible workspaces that will facilitate both in-person events and provide the IT infrastructure for digital events, should be one of their highest priorities.
With the right space, companies should be able to easily execute their events and have access to all the resources they need to impress customers and boost engagement.
Live broadcasting content
Video-led platforms like Instagram, TikTok, and YouTube have been vying with traditional content outlets like newspapers and magazines, in terms of readership numbers.
Not only are videos becoming the main way that many internet users are consuming content online, but they are a highly engaging and interactive format. In extension to this, live-streaming content has been gaining popularity.
Live broadcasting is anticipated to be a flourishing trend, providing up-to-date, real-time content that allows people from all over the world to tune in at any one time.
This provides a valuable opportunity for next-generation media companies who want to stay two steps ahead of their competition. Live streaming is still very much on the rise and, the sooner companies adapt to this type of content, the better.
This is another area where flexible workspaces can play an important role. Finding the right space should provide next-generation media companies with the IT infrastructure they need to operate live broadcasts.
They will have access to professional helpdesk support and be provided with bespoke solutions that allow for increased security, redundancy, and bandwidth to prevent any issues with their live broadcast.
Diversifying offering as a next-generation media company
Media companies operating in 2022 have the opportunity to go against the ‘norm’ and reimagine how traditional media companies have been viewed.
For example, traditional media giants like Disney have greatly expanded from just a producer of movies. Now, the company has many kinds of business under its portfolio, ranging from movie studios to merchandise.
Next-generation media companies can learn from this business model of offering alternative products and services – these may be different from the core operation, but still related in some way.
Having an office as a base for your company’s offerings is crucial, which can be seen in the success of MediaCityUK, a mixed-use property development in Salford, United Kingdom. In just 10 years, the company has become one of the world’s leading media and tech hubs – and flexible workspace has been a key factor in this growth.
With increased connectivity, improved tech infrastructure, and more public spaces to nurture talent, it is an ideal case study to demonstrate the importance of efficient and flexible workspaces for next-generation media companies.
Additional benefits that flexible office space gives to new media companies
Time is always an indispensable factor for a corporate's success. The same applies to media companies. Developing and managing content requires effective use of time. Understandably media outlets have to maximise their use of time to produce quality content. In this connection, flexible office space comes in handy to operators of new media companies, because serviced offices can offer business-ready private offices for lease, and provide a wide selection of business amenities, such as printers and scanners, as well as daily cleaning service and use of pantries.
Much importance has also been attached to data privacy nowadays as content development or production requires processing a large amount of information which may involve sensitive data from time to time. At Compass Offices, we provide enterprise grade infrastructure and resilient network connectivity to our clients to make sure their business operates smoothly. Private vLAN and dedicated bandwidth would be arranged per clients' request for advanced network requirement. As such, a private and secure workspace can furnish new media companies with a safe environment that assists the media outlets in processing confidential information before publishing their content.
The media industry is an extremely exciting place to be right now, with the growth of next-generation companies that are revitalising traditional media.
As the industry continues to change, and the world of business adapts to post-pandemic changes, flexible workspaces are going to play an increasingly important supportive role to nurturing talent, improving profits, and providing a creative boost to the industry.