Impact of Metaverse on Media Industry

Shajan C Kumar

2 min read
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AP file photo for representation

Will Metaverse impact on the media industry in India was the question asked on a LinkedIn survey recently and 68 per cent of the participants said yes to it. The metaverse is a virtual-reality space in which users can interact with a computer-generated environment. All of us are now connected with our phones, laptops, and tablets. According to experts, the metaverse will evolve more interactivity with our actions. Human profiles will be represented by Avatars, which will be an extension of something like the real world.

The LinkedIn survey had journalists and journalism students as part of respondents. All were eager to commit to this statement that Metaverse is going to change their world of working. But at what level was the next question. And many of them got confused at that point.

“Metaverse will take media beyond its traditional businesses which are print, TV, mobile or web. It will open up a new platform and create opportunities for monetisation of digital assets - be it news, images etc and marketing campaigns”, said AC Ganesh. He has experience in working with print media, and digital media and now experimenting with Artificial Intelligence for Communications.

“When the platform becomes more user-friendly, it will be a challenge to the media industry to be in the middle. The old times of gatekeeping will give away for gate watching and open gates”, said Dr Nithin Kalorth, Associate Professor, Times School of Media, Bennett University in Greater Noida.

There is a clear divide in opinions of working journalists in India about the Metaverse impact on the media industry. They think it will take its own sweet time for India to adapt to this new technique. The old school people will not allow things to go fast and once again we will be left unattended!

It is the pandemic that made us understand the need for more immersive experiences — beyond traditional text-based communication platforms like the use of remote conferencing and telepresence tools, like Zoom and others, soared. The urge of people to interact with fellow beings increased during the frequent lockdowns.

One could change the way we tell stories using Metaverse. The AR/VR and other immersive tech, you can touch/feel and experience the news.
Our working journalists have started using Voice to Text technology which they found very useful. Technology is really helping them save time. Google Lens is a marvel to many of them. AI-based apps that help in video production are also in demand. Audio recording with multi-channels is being tried out.

The media industry in India is vibrant and will surely experiment with the new technologies as and when it is launched in the country. The development of an ideal multi-dimensional virtual world will come about gradually.

Infosys recently announced its metaverse foundry. The company aims to create platforms that will enable companies across various industries to create their own customised virtual environments. India's largest software services firm has begun work on metaverse development. TCS, too, has joined the bandwagon by creating metaverse experiences across verticals such as online shopping, and workplace experiences among others. Tech Mahindra has launched TechMVerse, to push for metaverse-based commerce solutions.

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