What is ‘media technology’?
Media technology refers to the use of technological innovations in the circulation, storage, and production of media content. It covers everything from digital tools and platforms to systems that enable the creation, distribution, and consumption of media in today’s digital-first world. In this article, we explore the meaning of media technology and provide examples of digital media.
Given the broad nature of technology, it’s important to categorise this overarching term into different ‘sub-sectors’, taking into consideration the different market conditions of each and the relevant attributes.
We have defined six categorisations listed below – each of these will have different key performance indicators (KPIs) and factors that affect their success:
- Pure technology – Traditional hardware, mechanical and IT services technologies
- Clean/green technology – Technology with a focus on producing low carbon/renewable energy effect or assisting/increasing efficiency of current processes and methods
- Fintech – Technology for the financial services industry
- Bio technology – Technology which focuses on healthcare and diagnostics
- Gaming technology – Technology for the development of games
- Media technology – Technology which disseminates, stores or produces media content
There is a lot of debate about what a ‘media technology’ company is and how it should be defined. Some say that the definition is too vast or too complex to cover in one sentence, some call it ‘new media’ or ‘digital’, which again adds new complexities to the definition.
The significance of media technology
Media technology has revolutionised the way we access, consume and interact with media. It has transformed traditional media sectors such as TV, film, publishing and marketing services, bringing about new opportunities and challenges. With the constant acceleration of technology, media technology has become a crucial component of the media industry, offering advanced solutions to improve efficiency and enhance the user experience.
Understanding new media technology
New media technology refers to the latest and emerging digital tools and platforms used in the creation and distribution of media content. It encompasses a wide range of tech that enables the delivery of media through digital channels, mediums and platforms. These technologies include:
1. Streaming services
Streaming services such as Netflix, Amazon Prime Video, and Disney+ have completely revolutionised the way we consume media. These platforms use media technology to deliver streaming video content directly to users over the internet. Through media streaming, users can access a vast library of content anytime, anywhere, using their smartphones, tablets, and smart TVs.
2. Social media platforms
Social media platforms like Facebook, Instagram, TikTok and Twitter are integral parts of our daily lives now. These platforms utilise media technology to facilitate the sharing and distribution of user-generated content en masse. They provide a space for individuals, businesses, and organisations to engage and share content with a wide audience looking for conversation and connection.
3. Virtual reality and augmented reality
Virtual reality (VR) and augmented reality (AR) technologies have transformed the way we experience media, both in our personal and professional lives. VR immerses users in a computer-generated virtual environment, while AR overlays digital information onto the real world. They offer super immersive ways for users to engage with a business’s content, creating interactive experiences.
4. Content creation tools and platforms
Content creation is a major byproduct of the digital transformation the world is accelerating through, and media technology has given us unlimited ways to create and manage content. A few ‘low tech’ digital media examples are generative AI, digital music, data visualisation tools and cameras.
Conclusion
Media technology empowers content creators, media companies and consumers with innovative tools and platforms to create, distribute, and experience content in new ways. The examples of digital media discussed in this article demonstrate the transformative power of media technology in the 21st century.
By leveraging the capabilities of media tech, businesses can stay at the forefront of the evolving digital landscape, adapting to changing consumer behaviour to ensure they stay relevant and accessible to a wide audience.
Media accountants at Moore Kingston Smith
Moore Kingston Smith has a dedicated office of over 100 media specialists covering a range of independent media businesses, from marketing services, to film & TV and entertainment and theatre. Get in touch with us to understand more about our services and how we can facilitate strategic growth for your business.