Todays, the way in which people consume news and entertainment have been changed completely. Gone are the days when individual’s watch anything that players in the entertainment industry have decided to broadcast says, David Borshell.
In reality, technology has totally disrupted this sector, introduce latest trends and create new models for the entertainment industry. The advancement in technology has given spectators power to select what they want to see any-time and anywhere at their convenience. However, this creates both the challenges as well as opportunities for traditional broadcasters.
Actually, people prefer to spend their time streaming videos online and downloading them instead of watching shows on the television. Hence, distributors have to come with unique ways to bundle and broadcast content.
Here’s are some challenges and opportunities for entertainment and media industry:
One of the most evolving developments in entertainment and media industry is the virtual reality. This technology offer opportunity for content creation. Moreover, virtual reality is at the top in media and entertainment companies’ latest trends list. The technology offers several benefits in other industries but is not entirely successful in the entertainment industry.
But this did not stop the players in the industry from implementing VR in their programs. And numerous media persons using this technology in their broadcast. One thing to take care is that until customers get the content they wishing for, they cannot invest in this technology. The players in the entertainment industry going to invest in virtual reality technology should aware of every risk associated with it.
Targeting the Followers
Todays a lot of platforms such as Netflix and Spotify are available for driving the growth of entertainment industry David Borshell says. For instance, Netflix has made it easier for the industry people to recognize and remarket the content to spectators. Furthermore, artists can know who is listening to them using the Spotify user engagement data.
Almost all the brands use these strategies for targeting their fans and pointing advertising doings at them. It is a great way of gratifying your followers for their behavior, for brand love as well as evoking authentic replies. However, entertainment industry person has to take care of any online negative publicity.
These days’ music festivals have become the latest money earning business. Actually, the fans are ready to spend a huge amount of money in order to get a glimpse of their favorite star lives. And this is one of the best trends in media and entertainment industry is not going to die soon.
Also, this is the reason why media industries are trying the technologies like virtual reality. This technology will help people to enjoy LIVE experience of any music concert at home comfort. Plus, the people who missed the ticket of the recital, as well as festival organizers, can benefit from such ingenuities.
Wrapping It Up
David Borshell has given the above entertainment and media industry trends that players in this business should follow this year. The professional guide industries through market disruptions, technological innovations, financial difficulties and international expansion.