Media system metamorphosis via digital acceleration

The start of the third decade of the 21st century - the digital age as it is rightly referred to due to the increased development of innovative technologies - has revealed a substantial transformation in the national media space. Transformation in the media sphere has been particularly evident in the previous two or three years, and Covid-19 lockdowns have had a noticeable, but still indirect impact on these changes. At present, a new media trend clearly emerges related to the changed priorities of the audience, which could not but affect both the performance of domestic media market and the activities of media structures in media business. Likewise, the media industry has witnessed several trends since the 1990s so far. Even comparison of statistics related to the first, second and early third decades of the digital age, allows tracking the rapid dynamics of “pulsations” in the media industry that trigger the development of digital technologies, which generate a conflict-prone environment. This raises many questions regarding the restructuring of modern media systems. The article aims at analyzing the recent year transformations that have had an impact on the media industry. In fact, transformations in the media inevitably give rise to disputes among theorists and practitioners who discuss tactics and strategies for reforms. These discussions are conducted through various meetings and conferences that become a consistent feature of our times. However, at present they are held online rather than on-site. This is yet another indication of the accelerated digitalization of the media market. Nevertheless, the major concern is not only defining and forecasting the impact of digital technology on modern media systems, but also the retrospective analysis of the domestic media industry condition, including its gradual move to the digital environment, which allows identifying the cause-and-effect relations of the gaps and shortcomings at the current stage.