Advanced technology is revolutionizing every walk of life and entertainment is one of them. Most of the people do not take it as a wonder because, with the growing economic height of the population, more and more people are willing to spend big money for enjoying impressive experiences in the media and entertainment sector. The media and entertainment sector is evolving as quickly as technology these days and people associated with the industry should be on their toes.
Technology has totally changed the way people communicate with each other, share their stories, exchange personal and business information, seek entertainment and watch media. A recent couple of decades has seen bigger changes in how businesses create media, how consumers view that media and how marketers advertise. This article will provide you details regarding the major ways the media and entertainment industry will continue to evolve.
VR or virtual reality is a technology that provides a 3-dimensional environment that a user can experience and interact with through the use of specific technology. VR is becoming increasingly popular in media, gaming, and entertainment, etc. More and more companies are jumping into virtual reality to provide their users with amazing entertainment experience. Social media platforms like Facebook and YouTube have already jumped high in this race by introducing 360degree videos & content. Tech vendors are also providing the VR solutions like sync oculus go to help people enjoy a totally new and amazing playback experience.
Creation of Original Content
Higher focus on creating original content is one of the big changes in the media and entertainment sector. Companies and creators are now aware of the significance of the original content and they are working on this to provide their users with unique and interesting content without facing troubles. With original and unique content, they have complete control over the media and content created to increase their revenues. In this way, they will not be worried about losing their control of the content or media shared on their platforms.
AI is another latest technology that is changing the media and entertainment industry. Companies and advertisers are using machine learning and artificial intelligence to create and show ads based on what users like to see while surfing the web. Personalized content is common among marketers as it is shown to the users based on the data collected based on their online activities and behavior. Now the entertainment industry is also embracing artificial intelligence technology in their strategies. For example, AI can be used by the media and entertainment companies to create quick ads and trailers, and to streamline pre- and post-production processes.
5G and Entertainment Sector
Believe it or not, 5G will have a significant impact on the entertainment sector. With the higher speed internet, 4K UHD content will be common among mobile users and they will be able to view their favorite content on their mobile screens without any downgrade in quality or waiting for the content to load properly. The launch of 5G internet will also increase the cloud-based subscription gaming services. Moreover, VR and AR-based technologies will also be boosted with the rise of 5G as the download lag times disappear and the users will be able to experience fast 360° playback than ever before. Latest technologies and tools like VR Kiosk are also available in the market to provide users with amazing media experience.
Revenue generated via video streaming is growing constantly with no graph of slowing down. it is mentioned in a report published by the Research and Markets, video streaming revenue is forecast to boom to a farfetched $70.05 billion by 2021. With the rise of 5G, people will be able to stream higher quality video content on their mobile devices and it will keep them from downloading the content and they will be more likely to stream even while on the go. As original content creation is mentioned as one of the tech trends shaping the future of media and entertainment, many companies like YouTube, Apple and Amazon are creating original content to come up on their exclusive video streaming networks to increase their video streaming revenues greatly.