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Published on: February 8, 2024
What is Research and Development (R&D)?
Typically, we hear the phrase ‘research and development’ in relation to science and technology, but this is one of the things we’re trying to change at Media Cymru. We hope to turn the principles and resources of R&D into standard practice in our regional creative sector.
R&D activities are defined as creative and systematic work undertaken to address challenges and to create new or improved products, services, processes or experiences
In a media context, this could mean: exploring, experimenting with or testing new technology such as extended reality, artificial intelligence and virtual production. It could also mean exploring radical, fairer and more planet-friendly ways of working. It could involve testing new methods of producing, distributing and experiencing content, or new ways of reaching audiences and being more sensitive to their needs and demands. There are countless possibilities.
Good research and development:
- is novel: aimed at new findings;
- is creative: based on original, not obvious concepts and hypotheses;
- is uncertain: has a level of uncertainty about the final outcomes;
- is systematic: that is, based on a planned and budgeted approach;
- is transferable: that is, generates results that can be reproduced resulting in the transfer of new knowledge.
Why is R&D important?
On average, 32% percent of the Cardiff Capital Region’s media firms each year are new, with 10% leaving. This means we have lots of new businesses, but also a sizeable number shutting down every year. More than ever, we need a stronger media sector that is more able to deliver sustainable solutions in an ever-changing media landscape. We believe that with inspired creative R&D, we can de-risk innovation for freelancers and companies of all sizes, so we can all be more confident about the future as we shift the boundaries of what is possible.