LONDON: The combined forces of the advertising slowdown and the formation of online communities will transform the modern media industry beyond recognition over the coming years, according to author and Demos researcher Charles Leadbeater.

Speaking at the MRS Conference in London – coverage of which is available in WARC Online's blog from the event here – Leadbeater argued that new technology was transforming notions of value.

In particular, he suggested that value is increasingly "not revealed through price, but from interaction."

Leadbeater suggested what he defined as "collaborative culture" truly generates value for consumers, as it taps into a desire for the "good life" based around "participation and relationships."

As such, he concluded that the media industry will be transformed by these sweeping changes, and as a result, perhaps only Google "knows for sure what its business model will be in five years time."

Data sourced from WARC Online