The Virtual Media Match is an online event format invented by the next media accelerator (NMA). The event is designed to bring together startups, investors and media executives from all across Europe. It has been proven successful before in both on- and offline editions from Hamburg, to New York to Virtual.
The Media experts Turi Munthe (Demotrix, Parlay), Sofie Hvitved (Copenhagen Institute for Future Studies) discussed vividly what the future holds for the European Media Industry. Nico Lumma (NMA Managing Partner) moderated the panel.
When discussing various aspects of the current media trends, Sofie argued that the “Media is lacking the Vision at the moment” and she would love to change that in deepening cross-border cooperations. Another problem she identified is that people are scared: “People don’t like algorithms!”, she wants to show that AI and algorithms can be used in a responsible, sustainable human-centered way. “It is up for the media to show how they work with data, and how they can support you as a human in a good way”.
Turi also sees the Backlash against the big tech and algorithms. He also noticed another seismic shift arising in 12 to 24 months “There will be regulation which we haven’t seen in the tech industry for 20 years” this will be especially challenging for the advertising industry.
As an investor, Turi believes the media (startups) develop(s) at a different pace than tech. He knows media companies have hard times scaling quickly, so he asks himself: “Is it gonna make a real dent (…) into that small ecosystem (…)? Yes!” and invests. He provides an example of a local newsletter in Manchester that got from 0 to 10,000 subscribers in a heartbeat.
Sofie argues to have had that question discussed 10 years ago already and print is still around. So, even though declining, it’ll be around in the future too. “The market share of digital will keep on rising, but we will still have printed media.”
All in all the trends pointed towards more regulation, sustainability and trust building within the media industry as well as invests into products for a loyal niche community such as newsletters.
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Mostly because there were two specialties to the event format that has been proven successful in the previous years both on- and offline already: An expert panel as well as participants from EU Projects. Innovation power was added by teams of the EU Projecty MediaFutures and STADIEM.
After the panel, the participants were able to meet up in individual video sessions that lasted 20 minutes. Like that many meetings could be fitted into a busy schedule. 18 investors from Seed+Speed Ventures, Aschendorff NEXT to Wille Finance AG – just to name a few – could be met. Overall the event counted almost 80 successful meetings.
Elisabeth Grashoff of Ourdio and NMA Managing Partner Christoph Hüning.
It became a little bit of a tradition already: If you are lucky, you can score a meeting with none other than Kai Diekmann at the Virtual Media Match.
In short, it was a productive event for all parties involved and we are already looking forward to the next edition be it on- or offline.
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