With the advances in technology across the globe, most of us are always on some or the other technological device. All we do is tap on the screen to watch our favorite show. Streaming is a buzzword today and it has changed the way we look at the media and entertainment industry. It is the primary revenue generator for many channels and this trend is likely to continue to rule the industry. Here are five trends in the industry, which are here to stay.
Today, it is easy to listen to many songs at the price of one album download. If you are a music lover,you can download digital music with one click and make the most of this feature. This scenario is ideal for the music companies. The number of downloads are constantly rising with the advances in streaming technology.
2. Virtual and mixed reality
The success of mixed reality along with the virtual world is on the rise in the media and entertainment sector. People are deeply interested in such blended experiences. They are welcoming the mix of virtual and real.
3. Video streaming
This new business model has led to cord-cutting. Earlier,cable and satellite were the sources of viewing video content.However, this has changed completely due to the rise of streaming services such as Netflix. Users are simply going online and looking for the kind of content they wish to view. Video streaming is not going to slow down. We will only see an advanced version of the same in the future. You only need an online bank account to subscribe to the streaming services offered by the media houses. You can use a digital savings account to make a payment at the time of subscription and get it renewed automatically.
4. Adata-driven globe
There is a tremendous amount of data making rounds in the industry. The entertainment and media companies are trying to take advantage of the same. The media houses are leveraging data to reach out to a wider audience.
5.Content is getting curated
Streaming services such as Amazon Prime Video and Netflix have used curated content for a long time now. They suggest what you would like to watch based on your history. This helps create an immediate audience for new products and shows. Producers can now only focus on targeting the audience that prefers the type of content they create instead of keeping the broader perspective of the general audience in mind.
Digital revolution is at its peak. Consumers are embracing new ideas. There is also a rise in the demand for smartphones, which only gives a clear indication that the media and entertainment industry will remain the prime focus in the coming years.