Extra Credit Blog
By: Dennis Williams
Posted: February 29,2016
According to this article millennials dominate digital, so it’s important to identify the trends that interest this audience. Five trends to keep in mind in 2016 are:
The first can be stated as social media since Sixty-three percent of social media users rely on twitter and facebook for news. The article explain platforms like Facebook, Twitter, and Snapchat break news in real time and are beginning to shift how young consumers find trending stories. Social media allows readers to see a feed of trending news and live events as they happen. Major social platforms cover breaking news; media publishers can’t mimic the convenience.
Second according to the article virtual reality is no longer millennial fascinating future. In the past, stories about emerging virtual reality products were only illustrated by concept images and speculation. Today, there are both developer and consumer models that have introduced products and software.
Third new gaming consoles introduce more capabilities, video games have been quick to adapt. SuperData Research suggests consumers will spend $5.1 billion on virtual-reality gaming this year in both product and software. In an effort to maximize storage and create bigger games, many consoles are becoming cloud-based. Cloud-based games allow for boosted performance and new gaming effects.
Fourth battle has been joined between cord-cutting services and cable television. Sling TV and Sony Vue earned their fair share of the market among cable streaming services. In 2015, Sling TV was reportedly generating $5 million per month. Sling passed the 250,000-user milestone. Many online television providers are launching their own app to accommodate digital viewers who prefer watching TV online.
Fifth technology is making financial responsibility much easier and it’s giving banks a run for their money. According to Goldman Sachs, financial startups expect to siphon $4.7 trillion worth of annual revenue from traditional financial services. Investors have recognized this trend as well in 2014 they invested $12 billion in financial technology.