The Metaverse and the Future of Entertainment

What is a Metaverse?

Simply put, “Metaverse” describes a convergence of technologies that, when merged, provide a virtual world where people can work, play, or entertain themselves. It combines elements of online games, social media, and video communication tools to create an entirely novel experience, one that blends disparate digital media experiences into a single universe with persistent spaces, objects, events, and economies, all in real time.

Why does it matter?
TDG believes that metaverses have the potential to change our lifestyles in ways far beyond the impacts of
social media. Yes, the delivery technologies are very nascent, and the actual impact, scale, timeline, and adoption case remain uncertain. And yes, it carries the same risk of not living up to the hype as other related media categories – think virtual reality (VR) and esports. And yet, riskier still is ignoring the possibilities.

Why now?
It is imperative that media companies plan ahead and invest now to create a presence, an audience, and well-informed monetization strategies. Failure to act soon could result in further loss of viewership as a global audience devotes more screen time to experiences within the metaverse ecosystem.

Why This Report?
The Metaverse and the Future of Entertainment utilizes a blend of market insights, primary consumer research, and third-party sources to create an in-depth exploration of the emerging space including:

  • What a metaverse is and is not;
  • Its potential impacts on the media ecosystem;
  • The major players in the space; and
  • How media companies can best take advantage of this new wave of innovation.

The Metaverse has the potential to change fundamentally the nature of social interactions and media consumption for anyone with an internet connection. It will provide new competition for screen time, as well as new openings for both new and legacy content.

Put another way, the Metaverse is both an opportunity and a threat to those in the business of media creation, distribution, and consumption. It is not something you can afford to ignore.

Meet the Author

 
 

Mike Fischer is a veteran of the video and gaming industries, having held executive positions at Microsoft, Amazon, Epic Games, and Square Enix. He is also a member of the faculty at the University of Southern California.

The Report is available to all current TDG Members, please contact Member Services for a copy.

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