Global Scans · Media & Entertainment · Weekly Summary

• [New] Research conducted by Omdia, Informa Tech shows that the media and entertainment industry will generate 1 trillion dollars (about $3,100 per person in the US) in revenue in 2024, with 70% coming from video. MainStreaming
• [New] The major fields predicted to increasingly use big data by 2025 include astronomy, social media (Twitter, YouTube, etc.) and medicine-Genomics, which will be measured in zetta-bytes / year (zetta = 10^21). PubMed Central (PMC)
• [New] The increased trade in primates has been fuelled by the growth of social media alongside global access to the internet, which provides sellers and potential buyers with greater opportunities than ever before. Open Access Government
• [New] If China refuses to allow a forced divestiture of TikTok, as Chinese officials claim, the United States will face the loss of one of its most popular social media platforms. The Diplomat
• [New] As part of a new round of funding, homelessness charities, Centrepoint and Thames Reach will receive more than 500 tablets and smartphones, which will be powered by free O2 mobile data from the National Databank - which was set up by Virgin Media O2 and Good Things Foundation. Fundraising UK Ltd
• [New] So far, there is no authority anywhere in the world to license or regulate health information, meaning there will be more social media health content by all manner of persons and entities even as new social media platforms emerge. Eventbrite
• In terms of the entertainment industry, XR devices like the Apple Vision Pro have the potential to revolutionize the way we consume media. Smartphone Magazine
• Retail media is expected to make up one-fifth of worldwide digital ad spend in 2024, reaching $140 billion. Digiday
• Instagram is the best source of ROI among social media platforms and has the biggest potential for brands to grow their audience. Hubspot
• Health information could be easily obtained from social media platforms such as Facebook and Twitter. PubMed Central (PMC)
• The ongoing COVID-19 pandemic is likely to enhance the risk of addictive social media use (SMU) as people spend more time online maintaining connectivity when face-to-face communication is limited. PubMed Central (PMC)
• The deluge of conflicting information, misinformation and manipulated information on social media should be recognized as a global public-health threat. PubMed Central (PMC)
• Fear of Donald Trump increased the revenues of big media companies in 2016, and fear of Christian nationalism in 2024 is helping the sale of books screaming about it. Religion Unplugged
• By the end of 2024, retail media ad spend is expected to make up one-fifth of worldwide digital ad spend, scooping up $140 billion, which is up from the forecasted $115 billion in 2023. Digiday
• One standout in Forrester's report is the realization that, in its estimates, social media has now overtaken linear TV in total ad spend, expected to hit just under $80 billion in 2024. Digiday
• Retail Media is one of the fastest-growing sectors in advertising and is expected to represent $150 billion in global ad spend by 2026. Criteo
• The University of Michigan intended to use the federal funding to develop its tool 'WiseDex,' which could use AI technology to assess the veracity of content on social media and assist large social media platforms with what content should be removed or otherwise censored, it states. The One Hundredth Monkey
• Bloomberg analyst Poonam Goyal validated the importance of media as a value chain component presenting data that showed social commerce can account for 10% of total US E-commerce sales by 2027. ClickZ
• While programmatic retail media is on the rise, programmatic ad spending on mobile and desktop is forecast to be flat in 2024, or could reach single-digit growth. VideoWeek
• Retail media is expected to jump 30% to $64.7 billion in 2024 and rise to $81.6 billion in 2025, representing 23.5% of all digital advertising in the U.S. Broadcasting+Cable
• Advertiser spending on retail media networks in the U.S. is forecast to jump 30% in 2024, with growth largely coming from offsite programmatic media. Marketing Dive
• Smart city infrastructure, including electric vehicle (EV) chargers, can be built into the poles providing new opportunities for Virgin Media O2 to further monetise its network in future. Virgin Media O2

Last updated: 15 April 2024