We live in a digital ecosystem where bigger chunk of humans’ life revolves around internet, OTT, now the newly driven technologies including metaverse, blockchain, web 3.0 & many more. Coming from the stone age to this wide arena of technologies available these days clearly is the commendable progression for humans. Life is more accessible & convenient now from consuming media & entertainment to communication to door to door service to connecting from one corner to the other world to shopping, healthcare & many more.
MD & CTO
New Media Holdings and One Digital Entertainment
The rise of digitalization in media
The umpteen platforms available today is synonymous of the fact that digital media & video platforms are the first prerogative to the consumers. The first-hand information available on such platforms are highly being consumed & gets on the trending mode. For them these platforms are not just the mere source of information but it is so highly engaging to showcase their art, skills, branding & get good amount of traction among the patrons. Brands collaborating with content creators for their campaigns is another effective marketing strategy.
Technology enablers for digital media in Singapore
In the world where we have forayed into metaverse & web 3.0, we need quiet efficient bandwidth like 5G to support the technologies in order to cater the needs in the more simplistic way. It’s a boon for digital media to excel in more aggressive & productive way. Immersive technologies including AR/VR, AI have already enabled interactive experiences for consumers. A lot of brands have forayed into this segment to cater the best of their abilities for their respective consumers. AR/VR organisation is focused on changing the way people learn and interact in the real and virtual world.
The role of AI has been majorly contributing to real life situations including defence, neuro-rehab, sports, healthcare, education, gaming, entertainment, skill development, automobile, factory training, disaster response, robot training, industrial operation etc. ML, AI driven businesses have explored a lot of potential in gap management, process optimisation and many other such things which will push the world to a new generation of tech base.
Data: The next big driving force for digital media
Data also plays a huge role in aligning digital content to consumer preferences. Strategizing the approach towards the preferences of the consumers always yields productive results for the brands. It helps to segregate the particular audience & their choices that way brands are only displaying what the consumers’ requirement are at the end of the day.
Data mining may be a process employed by companies to show data into useful information. By using software to seem for patterns in large batches of knowledge, brands can learn more about their customers to develop simpler marketing strategies, increase sales and reduce costs. Data mining depends on effective data collection, warehousing, and computer processing. What is important is to do it in a name less way, where the personal information is not at risk, but the platforms get Information enough to group them to give the best experience.
Digital Media: Way forward for businesses in Singapore
Singapore is known for embracing immersive & cutting-edge technologies since internet plays a huge part in their lives. Majority of the population has been actively using social media, it goes without saying that Singaporeans are fond of media & technology. Digital marketing industry has a huge potential to grow the businesses etc. It’s been observed that social media, podcasts, gaming apps, music streaming platforms are the main trends among the consumers in Singapore.
Consumers research about the brands, information on the social media platforms which clearly is the potential platforms for the brands to tap using data mining, AI etc. Popularity of Ecommerce platforms have also taken the upward trajectory, there has been tremendous growth in this sector in Singapore especially after pandemic. Gaming industry, Video marketing, Podcast industry play a crucial part in the digital marketing strategies.
Brands should explore these verticals to expand & tap the right marketplace. What’s also important is it’s a great place to launch global businesses from Singapore. With technology becoming a key enabler for Singapore as a nation, its rampant adoption and deployment in the media space will create new opportunities for growth, as evident with increasing customer demands and supportive ecosystem.
About the author
Shabir Momin, MD & CTO, New Media Holdings and One Digital Entertainment
Shabir Momin started working at a very early age and became the youngest CTO at the age of 21, he has been awarded “Life Time Achievement Award” by Asia’s Best Employer Brand Awards in Singapore. He has also been awarded Business Leader of the year, 20th Global Edition. Indian Achievers’ forum, India’s Most Coveted forum, awarded him Indian Achievers award for “Business Leadership” in recognition of his outstanding professional achievement & contribution in nation building. He has also been awarded Inspirational leaders of Asia 2022 for his exemplary achievements & immense contribution to the growth of his respective organisation & industry. World Leadership Congress awarded him Digital Person of the year at Odisha leadership awards (digital). He has been awarded Trendsetter CIO award 2022 at 3rd Elets National conclave, for his exemplary contribution & innovative strategies that helped organisations in maintaining continuity amid uncertain times. He was awarded an NRI Achievers award & got featured in the HighFlyers 50book. He was also awarded Fame Times International Excellence awards-International Global Leadership awards 2021 for his contribution in tech, digital, innovation & entrepreneurship.
European International University felicitated him with a Professional Doctoral certificate award in the field of technology, digital, innovation and entrepreneurship. He was awarded Rex Karmaveer Global Fellow & Karmaveer Chakra Award (Gold) Recipient 2019. He won Business world Young Entrepreneur Award in the past along with Entrepreneur of the year 2013 by TiE. He was honoured with the “100 Smartest Digital Marketing Leaders Citation” by World Digital Marketing Congress. Brahma Kumaris & their media wing Godlywood studio awarded him for his achievement & excellence in media at the International Conference-cum-Cultural Festival. He has a successful track record in various technology and business positions at a CXO level for a few years before he became an entrepreneur. He has sold few ventures in the past and his current ventures that he has founded and co-founded are ZengaTV, one of the leading OTT services, OneDigital Entertainment, a Digital content company, OneAxcess.com, a unique self-serve, multiplatform distribution and monetization video ecosystem with over few thousands of content owners, creators and brand advertisers on board, InnovCrowd Pte Ltd which owns two Crowdfunding platforms – DesiredWings and Catapooolt focusing on reward based and equity crowd funding respectively, Rastey, a Cab Service, WoVoyage, a women only travel company, PSiamgone.com, an after death service, Holosuit, an AR/VR, tech start-up, Clinical Nutrition, Food & supplement brand etc.
He has further investments in renewable power and few other industries. He is a successful entrepreneur and a professional with an excellent track record in technology innovation especially in the digital media.