MediaTech is the New FinTech

There was a wonderful headline just over 2 years ago, speculating that MediaTech could be the new FinTech. 2020 has shown us a great many thing but the most notable of things in business and innovation might be revealing what happens when the world is finally all online. Indeed, MediaTech is the new FinTech.

Paul X. McCarthy, Adjunct Professor, UNSW, shared then with The Conversation that, “The mediatech revolution is well underway. It’s in our lounge rooms, bedrooms and on our way to and from work. We’re tuning into Spotify, playing Fortnite and watching Netflix into the wee hours like there’s no tomorrow.”

It was around 2015 that FinTech really grabbed hold of our attention as a way of describing the intersection of financial services and technology. Many attribute the word to startups, so it’s important to appreciate that major companies, in this case companies such as Bank of America, Chase, Wells Fargo, and Allstate, MasterCard, Fiserv, and First Data, make major investment in the infrastructure underlying and changing the finance industry. As with any [Sector]Tech, the work we all do must appreciate broadly how the economy is evolving.

Interest in FinTech, according to Google Trends

Now, the convention, [Sector]Tech, isn’t new. BioTechnology was in use as early as 1919 and Pfizer helped usher in the idea with their innovative approaches to manufacturing penicillin, but it wasn’t until…