The Future of Media In Metaverse

Written by: Rashmi

The metaverse is finally here. Once only a concept in sci-fi novels, it is now a virtual world where people dance in their favourite band’s concerts and even marry their soulmates. While a lot of people are still struggling to understand what the metaverse is, the biggest tech giants have already invested billions in it. As a result, every business is now thinking about its future in the metaverse, including the digital publishers.

The media has always faced the brunt of changing technology. From the invention of the Gutenberg press to the age of virtual newspapers, publishers have to always change themselves with the changing habits of consumers.

Great Scope Or Just Hype?

Publishers go where their readers go. It can be either old-school newspaper stands or the metaverse. If internet users find the metaverse as sticky as social media, there is no doubt that publishers are going to benefit from it. The more time readers will spend in the metaverse, the more chances publishers will get to catch the attention of readers.

But this is only a simple extrapolation of the current trend. Things might not go as the tech players want them to. In fact, as of now, there are only a few examples of newspapers and other publishers in the virtual world. So, a great scope doesn’t necessarily translate to guaranteed success. The media might have to adapt itself a lot in the unknown future of metaverse just like it did with the advent of social media.

Early Bird Catches The Worm

When social media arrived, the early adopters captured the most value out of it. Facebook and Twitter used to send hundreds of thousands, if not millions, readers to even small websites. But once the algorithm changed, publishers had to pay dollars even for a few thousand views.

People are already buying real estate in the metaverse. Big brands like Nike and Gucci have started to sell fashion assets in digital communities. At this speed, publishers are already feeling pressure to prepare themselves for the upcoming wave.

Metaverse: Long Way To Go

Metaverse is still at its early stage. A large number of metaverse reviews mention that the digital world is not as immersive as it is claimed to be. And most importantly, the hardware is not comfortable on the eyes of users.

There are many unanswered questions that are stopping publishers from entering into the metaverse. For example, how will people consume content in the virtual world? Or, will people discover content organically, or will algorithms play a part in content discovery?

Considering all these questions and problems, one thing that becomes clear is that metaverse has a long way to go. The biggest tech companies of the world might be betting a pile of cash on the future of metaverse, but in the end, it is users that are going to decide the future of metaverse.

Summing It Up

Metaverse is full of opportunities for everyone, including the media companies. Publishers might get a large piece of this pie if they can succeed in catching the attention of metaverse citizens.

That being said, the metaverse is at a too-early stage to predict anything concrete. Hence, as of now, the future of media in the metaverse is full of abstract predictions.