As 2023 looms, the future of social media is filled with exciting new possibilities and opportunities.
With the rapid advancements in technology, it can be hard to predict exactly what the future holds but, as someone who manages some of the top social media creators in Australia, I get to look behind closed doors at the creator economy and see where the attention is going.
Also read: Building a business at uni with just $20
Here are three of the biggest changes we could expect for social media over the next few years.
1. Wearable technology will expand
One of the biggest trends we can expect to see in the future of social media is the implementation of wearable technology into our everyday lives.
For example, Apple is rumoured to be working on wearable glasses, and Snapchat is rumoured to be developing its glasses - called Spectacles. It's clear we’re entering a new age, which will redefine how people document, record and share their lives.
I attended Snapchat’s summer showcase a few weeks back and had the opportunity to try out their augmented reality (AR) glasses. We aren’t far away from people using AR filters to add virtual elements to their photos and videos, making them far more engaging and interesting.
Experiencing social media through the lenses of virtual reality (VR) could also allow us to interact with friends and followers in a whole new way.
2. More rivalry is ahead
In terms of content creation, we now have platforms like TikTok becoming major competitors to companies like Netflix.
Right now, we’re in this short-form content bubble where all the platforms are fighting for attention. There is Instagram’s reels platform, YouTube’s shorts, Facebook’s reels and even Snapchat’s spotlight.
I think 2023 will see a transition to a massive push towards creator-backed shows to further rival companies like Netflix, Prime or Disney+.
The best use case of this so far is Snapchat’s Discover feature, which showcases some outstanding shows from news networks and top content creators.
3. Privacy and security will remain a key issue
The future of social media will also include a greater focus on user privacy and security.
In recent years, there have been numerous high-profile breaches and scandals involving social media companies which have led to increased scrutiny from regulators.
So, we can expect to see many changes with regard to how these companies handle censorship over the next 12 months.
In fact, we are already starting to see some changes in this area. For example, how Elon Musk has approached unbanning certain creators - including ex-US president Donald Trump - who have previously violated Twitter's platform policies.
Regardless, social media has a bright and exciting future ahead, finding new ways to connect with each other. As with all new things, there will be cynics and sceptics but, as we’ve seen time and time again, for the most part, it seems to work out.