The Global pandemic had a severe impact on most industries. However, technology has been advancing even during the pandemic, helping several industries to come back strongly from the crisis. It has been helping industries to improve, innovate, modify, and adapt themselves to meet the changing consumer expectations.
The media and entertainment industry is undergoing a drastic transformation. Here are the top trends visible in the entertainment industry.
- Video Streaming
Video streaming has been witnessing a steep rise during the global lockdown. Users used to access different video content for entertainment, resulting in a growth of digital video consumption. OTT platforms are now offering various video content. Amazon Prime, Netflix, Hulu, etc., have become common names. All of these platforms are cross-platform compatible, offering more convenience to the viewers. Most of the top media houses have their mobile applications for video streaming.
- Virtual Reality and Augmented Reality
Virtual Reality and Augmented Reality are two unavoidable technologies contributing to the entertainment industry. Both these technologies build a strong connection between the viewers and the content creators. They try to erase the border that separates the physical and digital worlds. Several musicians have started using VR to offer live performances for their fans. AR and VR have been connecting celebrities and their fans.
- Artificial Intelligence
Artificial Intelligence has a profound impact on all media including radio, TV, VFX, etc. Modern technologies like AI and machine learning can predict user engagement with the offered content. Media organizations have their data repository that will be analyzed and organized using AI to provide the contents the user wants. The technology helps organizations to better understand the current trends in media consumption and customer behavior.
Blockchain is one of the latest technologies that has invaded the entertainment industry. This technology can store and process huge quantities of digital data. Thus, the technology helps content creators in the form of NFTs, which avoids plagiarism and duplicate content. It is difficult to alter digital data stored in blockchain.
- Music streaming
Many music streaming services and apps have emerged like Apple Music, Amazon, Spotify, etc. They offer unlimited access to a wide collection of music libraries. Users may stream music through mobile apps or websites. Songs can be even downloaded on mobile devices. Most music streaming apps ask for a certain subscription charge.
- Social Media Apps
During the pandemic, TikTok gained huge global attention and built a strong global network. The number of active users of this application is rising every year. People have started spending more money to purchase various social media applications. Businesses have also started focusing on social media as it is helping them to find more sales.
- Cloud Gaming
Many entertainment trends are happening in the gaming industry. AR and VR are making significant impacts in the games released. Mobile gaming is gaining more popularity than ever before. Cloud gaming streams various video game content from different servers to the gamer’s device. Anyone with a stable internet connection now has access to the best games.