2021, and the metaverse anon

As we move into the holiday season, we look back on a year of change. The Economist launched its first NFT, Amazon bought MGM, and in Afghanistan the media landscape shifted seismically as a female anchor was broadcast interviewing a Taliban spokesperson. Meanwhile, as the rest of us endeavoured to return to real-world events, Facebook went Meta, and there were BIG deals too throughout the traditional magazine universe. The Media Weekly morphs into the Media Year this week, as we take a whistlestop tour of 2021…

Regulation, Regulation, Regulation

The media year began on a sinister note, as supporters of the outgoing US President stormed the Capitol building. Of course, the real-world assault on democracy had originated in the digital realm, and the events of January 6th served as a wakeup call to lawmakers around the world. FIPP President & CEO, James Hewes, summarised the key issues – and offered a potential solution – in his first open letter of the year:

“Prior to the current crisis, Facebook was already facing a host of legal and regulatory challenges in markets across the world. These were mostly focused on a combination of their monopoly positions in the advertising market and their disregard for copyright. 2021 might well be the year when they face the further challenge of being regulated in the same way as broadcasters or newspapers, forcing them to assume responsibility for the content that appears on their platform.”

Sometimes we must come full circle to find the truth

An obscure quote from season 3 of the X-Files circa 1995 for you there, so if you got that one give yourself a point in the Christmas quiz and please help yourself to a mince pie…

The relevance here is that in a year that began big on revenue diversification, we ended up with some strong evidence that the global advertising market is seeing a return to prosperity. For publishers of course, this is good news, as they enter 2022 not only with a broader range of monetisation options available, but also the ability to deliver premium environment, contextually targeted ads in the post-cookie era.

The art of the deal

Of course, another key way to maximise your earnings potential is by making industry moves. In many ways, 2021 was the year of the deal. After a 2020 spent bunkered down helping audiences through the bleakness of lockdown, content creators could once again be seen strutting their stuff on the business catwalk…

JG’s selection box 🍫

It’s an indulgent sub-head and in an already elongated column this week, I’ll allow myself the indulgence of just three top highlights IMHAO…

Afghanistan’s shifting media landscape (?)

While the events that dominated the global news cycle from Afghanistan in August presented sobering pictures, they did also bring us a ray of hope. TOLOnews’ female Presenter, Beheshta Arghand, interviewed Taliban Spokesperson, Mawlawi Abdulhaq Hemad, live on air, in a move believed to be the first time a female journalist has interviewed a senior Taliban official inside of the country’s borders.

Of course, there is still much work to be done, and I’m not suggesting that this single act of tprogress has in some way waved a magic wand in the broader fight for equality around the world. But it was for me an important moment and just another little example of how the media, arts, and entertainment industries are more often than not leading the charge when it comes to advancing social narratives.

Blast off: Shatner into space

Another thing that I liked seeing was William Shatner being blasted into space, and for me this carries with it all kinds of media connotations. Not least because you’ve got an actor, from a show, about space travel, actually going into space, while his journey is beamed all over the world, simultaneously by both traditional broadcast media, and online streaming platforms. Art imitating life imitating media imitating tech… or something.

Indeed, the line between space travel and the media tech sector has appeared increasingly blurred this year, just as we’ve seen a blurring of the lines between media and tech themselves historically. In addition to Jeff Bezos’ Blue Origin rocket carrying James Tiberius Kirk up to his command position, we’ve seen big in-roads made into the commercial spaceflight industry by other media favourites Elon Musk and Richard Branson this year as well.

Especially when we consider the wider impact that a science-fiction show like Star Trek has had on the ICT industries over the years, it again acts as a gentle reminder that what we can dream of in media, and transfer to the page, can become a reality – however fanciful it may seem at first.

From the universe to the metaverse

And that tees us up nicely my final highlight of the media year: Meta. As somebody who covers the media tech sector a lot, I think we do undoubtedly need to treat Mark Zuckerberg’s sudden pivot from Facebook to Meta with an air of scientific empiricism. The announcement came in October, after Apple’s decision to increase its privacy measures and just as former Facebook employee, Frances Haugen, was doing the legislative rounds.

Nonetheless, like NFTs, the impending impact of the metaverse cannot be ignored. As the industry’s relentless dedication to both AR and VR technology in recent years – despite their initial limitations – has shown, there is clearly an appetite for this sort of mixed reality environment. And as Nick Clegg, VP for Global Affairs and Communications for Meta himself wrote around the time of the announcement, “No one company will own and operate the metaverse.”

So the metaverse is coming… the only real question at this stage of the game is: is Meta coming with it?

As for FIPP… 

And just before I disappear into the transcendental realm of festive frivolity, I’d like to point out that we had our own pivotal moment last week. National Geographic’s Yulia Petrossian Boyle was appointed to the position of FIPP Chair, which is the first time in the organisation’s near 100 year history that a female Chair has been named in the role.

You can read the full article on FIPP.com.