The Webit.Festival in Sofia, Bulgaria brings together leaders, innovators and producers in technology, marketing and media to discuss big ideas and best practices. It is a truly international event, with 5,000 participants from over 60 countries. DW’s Managing Director of Distribution, Marketing and Technology Guido Baumhauer appeared at Webit for a panel discussion, The Future of Media.

Joined on stage by Didier Stoessel, CEO of NovaTV Bulgaria and Mattias Hjelmstedt, Founder of MagineTV, Baumhauer spoke about the importance and challenge of engaging audiences with content that is relevant to them. Baumhauer emphasized that actively reaching people is key to success. For example, by working with partners on coproductions, DW can produce content with regional relevance and succeed with programming tailored for different markets around the world.

After the event Baumhauer went more into detail about the future of media in an interview with Bulevard.bg, a Bulgarian media website.

“New technologies are changing the way the media industry works. A general trend is that the diversity of content continues to grow, ” said Baumhauer in response to a question about changes in the media business. “We have to continue to pay close attention to our target audience to make sure that they are receiving the content that they want.”

When asked if more traditional media like print and broadcasting were going “extinct” Baumhauer said, “It’s just another example of how ‘one size fits all’ doesn’t fit anymore. Today’s media landscape makes it possible for each individual to consume content – whether that be news or entertainment – whenever, wherever and however they like. For some, it’s reading newspapers in the park and for others it’s watching vloggers on their tablets on their train ride home.”

Baumhauer maintains that there will always be an inherent need for trusted and unbiased sources of news and media, even in the presence of social media’s growing dominance. “DW wants to ensure that our viewers and users have a balanced view of current events and pressing world issues – because people need a place to turn for credible information,” he said. “And while so many social media sources are mainly concerned about making something go viral, we are concerned about telling the whole story.”