Jesse Redniss, chief strategy officer at Mass Relevance, co-hosted the "How to Monetize the 2nd Screen Evolution" panel at the South by Southwest Interactive conference in Austin, Texas. Walt Disney's (NYSE:DIS) ESPN provides the most obvious use of the second screen, with apps that allow such things as enhanced stats and profiles on a mobile device while a game is being watched on another screen.

But what's coming down the road? Redniss spoke with Fool analyst Rex Moore in Austin, and in this video he explains how wearable technology will play a big role in the future of the second screen.

A full transcript follows the video.

Rex Moore: Final question: I think you said $8.9 billion industry for second screen in a few years. What do you envision in the future, that maybe we can't even hardly imagine right now, but you've certainly been thinking about?

Jesse Redniss: When you think about it -- and I just talked to another gentleman over here about the wearable technology space, and how that's going to come into the market.

In my talk, I was talking more about the unified screen experience in which segregating out mobile, tablet, laptop, desktop, television -- all of that's going to be converging, so it's all about the screen that's most useful to you and most convenient to you, whenever you are and wherever you are.

As your consumer journey goes across screens, the content that's there should be going across screens, too. Therefore, the revenue that's being generated across all those screens needs to be bucketed all together.

That's now going to move into the wearable space, too. It's going to move into the digital billboard space, too. It's going to be moving into the location-based mobile space. It's going to get massive, so figuring out how you actually create the consumer experience -- the journey as a consumer is going and seeing all these different screens and putting on these different wearables -- is going to be really important.

It's a big challenge that I think a lot of people are really excited about taking on, because everyone loves a challenge!

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Rex Moore has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Walt Disney. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.