Global Media Issue: Most Important Issues Facing Global Media Today

Most Important Issues Facing Global Media Today
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Introduction
The media industry comprises broadcasting, video games, advertising, publishing, movies, and entertainment channels. It is one of the largest industries worldwide in terms of market size and revenue because it caters to more than one billion audiences. The United States media industry is the largest globally, generating 735 billion dollars every year, representing a third of the global media industry revenue. The industry is under transformation, with both digital and traditional models continue to co-exist due to digitization, globalization of services, and availability of multiple devices and platforms(Croteau and Hoynes, 2007, pg. 35). The industry is witnessing rapid growth due to an increase in the personalization of media interactions because of demand from customers who are choosy, demanding, and enthusiastic about what to consume.
 Although the industry is growing, it is faced with various issues and challenges. The challenges include recruitment and retention, business costs, keeping up to date, audience measurement, tracking return on investments, and technological problems (Slovic, 2013). The current global pandemic, COVID-19, has also affected the industry resulting in decreases in revenue and job losses. The technological challenge is the main issue affecting the industry.
Technological Issue
According to Slovic (2013), the internet is key to the evolution and growth of the media industry, influencing how we consume content, thereby spearheading a shift in content production and consumption. Digital services account for a large percentage of the industry revenue hence threatening the traditional setup. For example, due to the popularity of video gaming and video streaming, publishers and advertisers are moving faster to embrace technology. 
Technology is always changing, and so are its challenges in the media industry. I will examine significant technological challenges and how it has negatively impacted the sector and how media organizations can steer through these issues to stay afloat. The following are technical issues:
1 Content piracy
Live streaming is becoming the best and popular technique through which entertainment and media houses transmit both old and new high-quality information and content to their audience. It is cost-effective and can be accessed conveniently through mobile phones, traditional TV, and laptops (Marx, 2013). That ensures that viewers have full access to their favorite movies, shows, films, and music at their comfort and on the go.
Streaming services are at risk of piracy because content uploaded online or streamed live may be recorded and illegally distributed, resulting in revenue loss and investment return. Digital systems technology makes it easy for fraudsters and pirates to steal and re-stream content worldwide while using similar infrastructure as service providers and content owners(Marx, 2013). Pirates can screenshot and take screen recordings using personal computers and smartphones to capture and exploit content before distributing or re-streaming.
Piracy research released in June 2019 conducted by NERA Economic Consulti...