5 Key Tech Trends In The Media And Entertainment Industry
Gone are the days when people used to sit around the campfire and spend some quality time with friends. Time rapidly changes, people evolved and technology is advanced. At those times, there was a limited number of campfire instead of people sit in their lounge enjoying watching television. Technology has become more advance and now all you just need a single tap to enjoy your favorite show on the smartphone.
The conclusion of this advancement will take you to a single term that is keeping everyone hooked to their seats – streaming. Whether it is a video or audio media, streaming is constant. In 2020, we will see a more advanced version of this cutting-edge technology.
- Downloading Digital Music
We all have downloaded digital media on our smartphones and stored them on a micro memory chip. With streaming, things have changed and become simpler than ever before. There is no rocket science to argue the reason. Now it is possible to listen to ten million songs by paying the price of a single digital album download.
The music fans are taking full advantage of this service by switching to such applications. Approximately 100 million users are now subscribed to these services and the count is still increasing. This is beneficial for the music industry as well since revenue is increasing.
- Video Streaming
Video streaming is also rapidly increasing and on top of that, it has no plan of slowing down. If anything, we will see an enhanced version of this tech shortly. It is estimated that the revenue of video streaming will be tripled by 2021. Users are moving towards phone applications for television that is widely used for streaming videos.
Streaming is a rapidly growing digital distribution and creating many opportunities for new independent artists. The music and video distribution have taken a different route towards the expansion and it opened doors for the artist to gain the attention.
- Data-Driven World
Streaming and the digital world are dominating the media and entertainment sector at a global level. This has resulted in the growth of data. As mentioned above, streaming has become the primary driver for video and music. This simple reason has made it imperative to utilize data and process of analysis to ensure success.
- Tech Advancement
There’s no doubt that technological advancement is growing at a rapid rate. This has transformed the face of the media industry as the basic concept is development, artists are growing and consumers are dependent on consumption.
It is imperative to have a full understanding of the music data. However, the industry is unpredictable, data provides an efficiency by which they can predict and get a vision making its powerful tool. We cannot overstate the importance of data in the media and entertainment industry. The database decides the content and delivery be done to a consumer. People all around the globe are embracing technology that will make VR an essential aspect of the entertainment industry.
- Future of Creative Industries
Digital transformation is at its peak with the help of fast-paced technology. Users are embracing innovative ideas that are assisting in the growth of media consumption. This is increasing the demand for smartphones among youth which is rapidly growing day by day. The entire world is using global platforms to connect such as social media and the internet. This will increase the growth of technology innovators as they will come up with more techie ideas.
The access to smart devices has grown on a wide range such as smart speakers, smartphones, connected homes, and cars. This enables people to stay online anytime and from everywhere until they have a stable internet connection. They can stream music, television, read books, and the list goes on. This is the major change in user behavior and advanced technology that has managed to boost the growth of music streaming and video. Moreover, voice-controlled technology is going to take over the world. It will bring the technical world to the forefront with personal assistance with just a single click. There’s a chance in the future that more digital technology will be introduced in the media and entertainment sector that will improve the user experience. Digital media has the potential to improve its capabilities and curate content delivery to entertain the audience.
