The Impact of Digitalization - a generation apart
KPMG has released a 36-page report on how digital media are affecting work, play and relationships across Europe, and in particular how Generation Y is interacting with that media.
The paper contains interviews with industry experts and a summary of consumer research, based on interviews with 3,000 people in Germany, Spain, United Kingdom, the Netherlands and the U.S.A in December 2006.
New technology can often be disruptive. But the pace of change in information technology over the past few years, and the speed with which technology has has been adopted by Generation Y, poses particular challenges for business in general, and for media companies in particular. What has become known as Web 2.0—a somewhat overused term that refers to a second generation of internet-based services (such as social networking sites, wikis, communication tools, and folksonomies) that emphasize online collaboration and sharing among users—has upset the hierarchy among media companies in a few short years.
Broadly, there have been four big developments in the online world in the past few years.
1. Decline in the cost of media distribution—thanks to digitisation and broadband—which has helped to make even relatively unloved content commercially viable.
2. The rise of user-generated content perhaps better described as “participatory media”.
3. The rise of sharing.
4. The way in which information is organised. Instead of a traditional hierarchy of information by experts, i.e., a taxonomy, web users are increasingly categorising online content—web pages, photographs and links—for themselves. given rise to new businesses.
Download report (pdf, 1 mb, 36 pages)
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