There is a special intergenerational term “millennials” in the world, which generally refers to those born in 1980-2000, also known as Generation Y. Millennials have grown up in the era of the Internet and mobile technology. The growth period of this generation almost coincides with the formation and rapid development of the Internet and computer science. Sometimes people mistakenly think that they are people born after the new millennium (i.e., 2000), but this is actually wrong.
The overall education quality of the millennial population has improved. The education level of millennials has further improved, and the entry rate of junior high school, senior high school, and university education has increased significantly.
With the improvement of consumption levels in culture, education, entertainment, digital science, transportation, and communication, millennials have early access to computers and mobile phones to access a large number of information resources, so they are very proficient in digital technology. They value seek self-expression, and social media is their favorite way to express themselves.
Millennials have stronger social needs. This generation of groups has a stronger desire for interactive expression, and they love fun and authentic content and discussions. Millennials have grown up in a social environment that tolerates self-expression. Modern education concepts are more tolerant and open to self-expression and self-awareness. The social environment is more willing to listen to millennials. At the same time, the rapid development of instant messaging and social networks provides a platform for millennials to express themselves, so the Generation Y group has a strong need for social expression.
According to Sullivan’s white paper, the global social network market continues to grow, and it is estimated that by 2024, the global social network market will reach $264.4 billion. At the same time, it is pointed out in the white paper that millennials are the generation that grew up in the era of computers and the Internet, and they are the largest group of Internet users. Moreover, this group is mainly concentrated in emerging social markets.
Among them, the emerging social market has a very large room for growth and will usher in leapfrog development.Brands such as Tik Tok, Kwai, and WIMI, which are working in these emerging social markets, will also usher in a favorable era of growth.
The huge young millennial group has brought sufficient traffic users to the Internet. The white paper survey found that the growth rate of Internet users in emerging markets was significantly higher than that in developed countries. Among them, Internet users in South Asia, North Africa, the Middle East, and Southeast Asia increased year-on-year by 20%, 14%, 11%, and 8.2%, respectively, while growth rates of North America and Western Europe are only 0.9% and 0.7%.
The social needs of millennials spawn new opportunities for the social market. The pan-entertainment social network for the Generation Y group pays more attention to platform communication needs and has higher requirements for communication. Among them, pan-entertainment social applications include online games, video websites, live broadcasts, short videos, etc. In addition to acquiring content, millennials pay more attention to meeting communication needs during use and sharing their thoughts, opinions, and experiences. Pan-entertainment social applications enable the younger generation of user groups to socialize with like-minded users, satisfying the sense of belonging of millennial users while entertaining.
In addition, interest is the content social model that drives millennials. Content socialization refers to the diversification of information, while content sharing and content discussion are the main social methods. It is to establish a circle of interest on common topics to start social interaction, so as to obtain richer content and meet communication demands, including Weibo, Facebook, Instagram, Douban, and many other platforms.
The millennial youth culture has given birth to changes in the content industry. At the moment, capturing the millennial generation means capturing most of the market. Therefore, whoever understands youth culture more fully can do better in the market. The computer vision holographic cloud service provider, WIMI Hologram Cloud, summarizes millennial youth into two tags, that is, experience and expression.
In recent years, in addition to covering various forms of graphic content, short videos and live broadcasts have gradually become the most popular forms of communication in the industry. The emergence of “short videos” and “live broadcasts” naturally attracted the influx of millennial users. With the development of new technologies such as 5G, AR, and AI, WIMI also provides new opportunities for the development of short video and live broadcast industries.
WIMI’s AR-enhanced display technology is a technology that calculates the position and angle of the camera image in real-time and adds the corresponding image and video 3D model to display virtual information in reality. This also enables people to interact with virtual information to realize the synchronization of virtual space and real space. This visual feast uses AR technology to create a three-dimensional visual high-standard entertainment experience. The three-dimensional and holographic form of communication naturally meets the high requirements of millennial consumers for video experience.
Surprisingly, WIMI’s video experience and video types have been further polished and expanded. WIMI will enhance the video playback experience in the four dimensions of clarity, fluency, brightness and color, and interactivity. From production to consumption, the full link supports 1080p, 60 frames, and HDR mode, opening up the panoramic video field, letting the video be closer to advanced technology and network characteristics in information dissemination and commercialization. In this way, when watching a video, there are multiple types and all-round presentation forms and content types. Moreover, any user can experience this novel interactive mode anytime and anywhere.
In fact, WIMI also takes into consideration the importance that millennial youth attach to social expression. Millennials are in an environment where the economy is good, and the information is exploding. WIMI pays special attention to passcodes for young users to break social barriers, and the most popular topics are animation topics. Nowadays, animation has invaded youth cultural and entertainment consumption.
Although WIMI has entered the virtual industry, it has not been long. However, from 2020, WIMI has obtained industry gathering and support through investments and acquisitions of many R&D companies in the holographic AR industry, forming a strong holographic AR technology R&D ecosystem. WIMI Hologram Platform carries out content production with great enthusiasm, and has established a dedicated operation team and technical team to develop a comprehensive holographic IP rights content library. This covers virtual holographic content from 3D models to holographic virtual products, with a total of nearly 5000 holographic virtual IP rights content. At the same time, it covers a wide range of categories, including holographic animation, virtual live broadcast, virtual idol, and virtual social.
In addition, WIMI’s virtual content library is also enriched with copyrighted IP content licensed from third parties. WIMI cooperates with various content owners (including brand owners, film producers, and agents) to transform high-quality IP into holographic virtual products to improve WIMI’s IP ecological operating system.
On the WIMI Hologram Platform, whether millennials want to experience the use of virtual technology or watch a variety of animation content, or want to achieve social purposes, one click is enough to meet the diverse needs of any user. An enterprise can only meet various market demands by generating multiple business units after arranging around the ecosystem. WIMI strives to establish a business ecosystem based on the application of holographic technology. Next, it plans to continue to improve and strengthen the existing technology and create its own unique ecological business model while maintaining its leading position in the industry. According to reports, WIMI plans to apply holographic facial recognition technology and holographic facial change technology to the existing holographic advertising and entertainment business, strengthen technology upgrades, and achieve good results in more industry fields in the future. In the future, with the support of platform technology and hardware equipment upgrades, WIMI will integrate holography, XR, MR, and other innovations, and will add more innovative content to bring more exciting high-definition video works. WIMI will build in-depth development of new consumption methods, increase social and interactive attributes, open up online and offline experiences and new consumption, and bring more new content-based business models to the platform and users. WIMI will also continue to dig deeper in the field of virtual video presentation technology, presenting a more exciting video creation and viewing experience, and using technology to support entertainment content.
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