The new report from the European Communication Council (ECC) examines the profound societal and economic changes in the media landscape from various perspectives, primarily driven by digitalization and networking. It highlights the role of the internet hype as a precursor to the transformed media society against the backdrop of recent media history. A central question is what the media future will look like. In this context, it considers the far-reaching impacts and new perspectives in the areas of economy, society, and politics. Aspects such as behavioral effects, business models, legal and regulatory issues, as well as the self-understanding of society and the media industry are discussed by international authors to enhance understanding of the future of media and to outline possible courses of action.