A socially oriented non-financial development institution and a major organizer of international conventions, congress, exhibitions, business, social and sporting, public, and cultural events.

The Roscongress Foundation is a socially oriented non-financial development institution and a major organizer of international conventions; exhibitions; and business, public, sporting, and cultural events. It was established in pursuance of a decision by the President of the Russian Federation.

The Foundation was established in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyse, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, and helps foster social entrepreneurship and charitable initiatives.

Each year, the Foundation’s events draw participants from 208 countries and territories, with more than 15,000 media representatives working on-site at Roscongress’ various venues. The Foundation benefits from analytical and professional expertise provided by 5000 people working in Russia and abroad. In addition, it works in close cooperation with 160 economic partners; industrialists’ and entrepreneurs’ unions; and financial, trade, and business associations from 75 countries worldwide.

The Roscongress Foundation has Telegram channels in Russian (t.me/Roscongress), English (t.me/RoscongressDirect), and Spanish (t.me/RoscongressEsp). Official website and Information and Analytical System of the Roscongress Foundation: roscongress.org.

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Attention Markets: Competing for Consumer Time
5 June 2021
12:00—13:15

In 2019, a new tool for tracking screen time was introduced to smartphone operating systems. Disheartened users were able to monitor the continuous growth of their screen additions, something the pandemic has only exacerbated. Today, the average resident of a developed country looks at their mobile device for over 4 hours a day, while overall screen time accounts for more than 8 hours. Our digital devices have become Trojan horses, allowing the captains of the digital economy to conquer our attention. Controlling how people spend their time is a key factor in the success of digital ecosystems. The algorithms used to do this, which analyse consumer preferences and select which content to display, are often misunderstood by regulators and consumers alike. Even now, governments often adopt the logic of the industrial economy, for example viewing market power exclusively as the share in the market for a given product. Competition today, however, revolves around strategies for controlling demand, namely the attention of consumers, rather than the dominance of different goods and services on the supply side. This transformation is defined by the concept of the ‘attention economy’. The entertainment industry is losing its status as an independent sector and is increasingly being incorporated into huge digital ecosystems. The wave of mergers and acquisitions covering all kinds of entertainment assets is driven in part by the desire of these ecosystems to strengthen their grip on consumer attention. Regulators are already faced with the question of whether it is now necessary to talk about the convergence of different markets into a single market for managing consumer attention. At the same time, several sectors in the new economy such as legacy media and the entertainment industry are already experiencing significant competitive pressure on the part of integrated digital giants, forcing regulators to grapple with the fresh challenge of ensuring fair competition in these new conditions. Should the government support the traditional entertainment industry or is it becoming an arbiter between the traditional industry and digital ecosystems? Should the algorithms used to control consumer attention be made transparent? Do we need a new set of rules to govern the provision of audiovisual services in the latest round of development of the market economy?


Date
05.06.2021
Forum
SPIEF
Started at
12:00—13:15
Conference hall
Congress Centre, conference hall B3
Analytics on the topic