09 Oct Digital Trends Shaping The Future of Media and Entertainment
It might interest you to know about digital trends shaping the future of media and entertainment if you are a media and entertainment lover. You see, before technology popped up to this level, it had features that were helping in making the media and entertainment future take shape, but those features are no more available in the media and entertainment world.
You see, each year technology advances, it affects every aspect of different lives; it makes life easier and worth living.
However, this technology has advanced so much in the media and entertainment industry; this contributes to why most readers ask us about the digital trends shaping the future of media and entertainment so that they can be updated.
Therefore in this article, I will be addressing everything you need to know regarding digital trends shaping the future of media and entertainment, as well as digital transformation in media and others. So, without wasting time, let us proceed –
Digital Trends Shaping The Future Of Media And Entertainment
Comparing what technology has evolved into in the media and entertainment industry currently and what technology was in the last few decades would be regarded as an offense.
You see, before the covid-19 struck the world, people were conversant and allowed to hold face-to-face communication with some news media, but during and after the covid-19 pandemic that happened in 2019, specific movements have been restricted, hence developing people’s interest in using digital technology trends for communication.
The media and entertainment industry no longer rely on advertising their brand only. They operate on a landscape that has been turned around by the covid-19 pandemic.
More media executives have even considered dropping legacy business models since there are digital trends shaping the future of media and entertainment.
So, below are the digital trends shaping the future of media and entertainment –
In 2022, most media and entertainment bodies have already figured out the type of content they should create considering the audience’s engagement; most entertainment firms are also planning on content that should be made by 2023. Also, media executives are looking forward to creating content geared toward Artificial Intelligence (AI) and Machine Learning.
However, the use of Artificial Intelligence and Machine Learning is to help MEP businesses predict the user’s behaviour.
Just like Facebook, everything any Facebook user sees on the platform is powered by smart AI algorithms. So, Facebook makes sure that the content that every user sees on the platform is based on other users’ interests.
E-Sports are now experiencing huge growth in engagement compared to when it was established. You see, online gaming has already resulted in a billion-dollar industry in the media and entertainment industry.
E-sports, from its start, was only seen as virtualization of sports, but it is no longer seen that way in today’s world. E-sports today has grown into professional leagues and competitions attached with large amounts of dollars as its price.
Even fintech firms rely on Esports to get large-scale innovation and investment, and Facebook happens to be one of these fintech industries.
Most publishers are already hosting global tournaments and other events on social platforms to ensure live sports are replaced. This digital trend shaping the future of media and entertainment has been on for a while.
D2C Streaming (Direct to Consumer)
As of today, you can view Video content from the comfort of your home using a smartphone, a high internet bandwidth, and a low internet bundle.
OTT (Over the Top) platforms such as Disney+, Amazon prime, and Netflix are never out of options for offering their consumers content that they are interested in.
D2C is regarded as one of the top digital trends shaping the future of media and entertainment. This is due to the high percentage of subscriptions that have been gotten from OTT platforms after the covid-19 pandemic. The OTT platforms’ subscriptions have risen by over 60% after covid-19 struck the world in 2019.
How Is Technology Changing The Entertainment Industry?
Technology has helped the entertainment industry to gain more consumers. Before, fewer people were going to an entertainment function due to the cost of attaining one, but it is no more done that way. As of today, most entertainment executives steam their events live so any of their viewers who can not afford the cost of attending the program can easily watch what is going on live with a smartphone.
Also, audiences no longer waste money buying recorded discs because they can get them on the internet anytime they want, provided they have a smartphone, internet bundle, and flowing internet access.
Why Does A Company Need Digital Transformation?
With digital transformation, a company reduces operating costs and inefficiency. It helps them blend the business strategy with more options for the consumers and satisfies consumers’ needs.
Frequently Asked Questions
Does Social Media Affect The Entertainment Industry?
Yes, social media have affected the entertainment industry positively as most netizens look up to watching an event through social media.
What Are The Latest Technology Trends?
Artificial Intelligence and Machine Learning are regarded as the latest technology trends.
Why Is Digital Media Important?
Digital media is important because it aids in social interaction and how it empowers people.
Without technology, we would have been going the extra mile to get most of our issues solved. You see, with the help of technology, you can now look up to watch your favourite TV channel, provided there is a smartphone, good internet access, and a small amount of internet bundle.
You can share other digital trends shaping the future of media and entertainment.