Media and entertainment industries are the earliest adopters of digital advancements. Every business domain understands the need for integrating the physical and digital ends. Together with innovative technology advancements, the media and musical notes industry are developing effectively. The latest news and information can be broadcast instantly to any edge of the globe. The continuous changes in technology are affecting the value of content and dispersion.
Instead of creating an impression about the brands, the media organizations are now majorly focusing on building directly strong relationships with consumers. Nowadays, advertisers demand more relevance, accountability, and interactivity. Trending strategies fuses the content and applications together. This gives rise to both digital and traditional media values. Personalization and optimizing the conversions is the new trend in the media and entertainment industries. It is used for improving the user experiences and is served as an extension of a brand’s identity and capability of operating the business.
The expected reach of entertainment and media market is worth 2.5 trillion US dollars by 2021. Services like On-demand video streaming, content streaming, advertising, streaming, solutions, etc will continue to create a benchmark in a fast-paced industry that changes constantly.
Mobile advertising will account for 80% of the internet advertising revenue with total revenue predicted around 117 billion.
Video games revenue will reach $30 billion by 2021, more than double the 2012 revenue of $15 billion.
Consumer content is expected to grow from 422 million in 2016 to 6 billion in 2021.
Trends across the Media and Entertainment Industries:
Digital Music Downloads: We have all gone through the downloading era of digital media. We used to download media on our smartphones and it gets stored on a micro memory chip. But, things have taken a U-turn with the introduction of Streaming Technology. It is now possible to access and listen to millions of songs by simply paying the price of a single album download. People are now shifting to apps and about 200 million subscribers (or more) are taking the leverage of musical apps. Musical industries are highly benefited with such services as they are earning heavily from the streaming technology.
Video Streaming: Video Streaming is trending vastly in the media and the entertainment industry. the revenue generated by video streaming is predicted to get tripled by 2021. Smart devices play a vital role in streaming video technology. It is an immensely growing digital parameter that is opening doors for many diverse industries and artists as well.
Internet Advertising: It is a set of tools for effectively conveying the promotional messages of brands to the people across the globe via the internet considered as the best “global marketing platform”. Advertising online is on the peak by the industries as it is quite affordable to any budget, easily drive more traffic to the website, allows targeting the accurate audience, and provides easy global coverage.