Last Updated on February 22, 2024 by Hamza Khan
From early electronic TV to the metaverse’s rise, news production has waltzed with innovation. Today, as our thirst for interactive narratives grows, the metavers eoffers fresh promise with augmented reality (AR), virtual reality (VR), and mixed reality (MR). These aren’t just buzzwords; they’re avenues to reshape news into immersive experiences.
The metaverse technologies offer a canvas where reality merges seamlessly with digital dimensions, opening doors to narratives that are not just read but lived. Amidst this digital tide, the MENA region stands poised. Deloitte’s report envisions the metaverse contributing up to $83 billion to the GDP by 2035. It’s more than an idea; it’s a prospect, a chance for news to evolve.
Metaverse’s Mighty Potential in the Middle East Media Industry
The metaverse’s transformative potential in the Middle East is vast, already driving strategic initiatives in Saudi Arabia and the UAE. Dubai’s Metaverse Strategy aims to position the city as a global metaverse hub by prioritizing innovation in tourism, real estate, education, retail, and government services. As the MENA news and media industry embraces interactive experiences, virtual newsrooms empower viewers to actively engage, explore diverse story facets, and even contribute to news creation. This fosters personalized news interactions and a stronger audience-information connection. Statista’s research highlights soaring digital news consumption in EMEA, with social media leading as the primary news source for over 50% of surveyed consumers, complemented by online newspapers, websites, and apps.
Metaverse in News Production: A Dual Path of Innovation and Protection
The convergence of the metaverse with news broadcasting introduces a spectrum of prospects and hurdles to the media landscape. It introduces a realm of untapped potential for reshaping audience interaction and engagement in the realm of a new generation. Nevertheless, it gives rise to valid reservations concerning the safeguarding of data privacy, security, and protection. As the trajectory toward digital metamorphosis advances, the onus of ensuring security assumes a communal mantle. A recent assessment, the PwC Global Digital Trust Insights Survey, reveals that 4% of senior executives have witnessed an upswing in cyber breaches post-2020. Encouragingly, approximately 40% of forward-looking enterprises assert that their cybersecurity and privacy frameworks have adeptly mitigated the risks associated with data breaches.
MENA’s Digital Surge
Newly released insights from McKinsey Digital underscore a swift surge in digital integration across the MENA sphere, where notable internet penetration stands out. Within this landscape, digital assimilation spans a wide spectrum, encapsulating fully digital as well as remotely guided processes, tallying between 75-80%. This dynamic paints a receptive backdrop for the embrace of pioneering technologies, including the metaverse. Progressions within the metaverse arena unfurl a tapestry of captivating prospects, ushering in cutting-edge interactive tools for heightened engagement with media and news enthusiasts. For a multitude of enterprises, the pivotal question isn’t whether to participate in interactive endeavors, but rather whether they can afford to forego this transformative occasion.