The change in demand and consumer behavior, along with rapid technological advancement, is reshaping the media and entertainment industry. Everything is driven by technology, from the sophisticated special effects developed for movies to virtual reality gaming, augmented reality, streaming platforms, and new channels to deliver news and music.
A significant factor that accelerated this innovation process is undeniably the COVID pandemic. Even a few entertainment outlets, like analog concerts during the pandemic, became digital. Even though in 2022, everything is coming back to normal, creators and producers are still searching for new technologies to make groundbreaking innovations in the field.
Let us now look into some technologies that will rule media and entertainment.
Augmented Reality and Virtual reality
AR and VR technology has been changing the course of the media and entertainment industry beyond our imagination. This has helped blur the borders between reality and fantasy and has brought the digital and physical realms closer than ever.
AR and VR together have enhanced user experience. One example where these two technologies are working hand-in-hand is Pokemon Go. In addition, using AR and VR makes the entertainment and media industry more affordable and provides mobility.
When we speak of blockchain, the first thing that pops up in the audience’s mind will be cryptocurrency. But how can we transform the media and entertainment industry? Blockchain is capable of processing and saving extensive digital data, thus helping in defining NFT digital content author. These can keep all the data safe and will ensure control or mitigate all the issues related to plagiarism and duplicate content. Also, the information and data stored in the blockchain are difficult to change.
Today, it has become impossible to ignore the existence of Non-fungible tokens. NFTs will redefine customer loyalty and drive more digital goods innovation. They will also transform how artists and celebrities interact and build rapport with fans. This will enable them to release collections that fans can collect when interacting with them digitally. This will serve as proof of meeting the star digitally, just like an autograph record of the star’s meeting in person.
Boost in Gaming
In 2020, most sports events were canceled due to the COVID pandemic. But the eSports and gaming industry became the savior of millions of sports fans across the globe. They made it possible for all sports fans to watch their favorite sports without going to stadiums. And by 2021, this solution has become more popular, and people across the globe began to show in interactive gaming that enhanced the user experience.
An expert says that more digital media trends will be introduced inside the games. Live betting and live events are the best examples. Live-in game concerts are another trend in digital media that is boosting the gaming business. Studies show that more than 40% prefer this to virtual stimulation and other in-game activities.
AI technology is one of the latest trends influencing the entertainment industry. They are influencing TV, radio, casinos, and so on. Artificial intelligence, machine learning, and natural language processing are helping industries predict user engagement. AI is effective in identifying the customer’s emotional changes and other information that helps the entertainment and media industry to understand customer behavior. Due to this accurate data, they are able to provide a customized experience for each user.
For instance, in online gambling, they are using AI to get players’ databases, which enables more responsive customer service. So you can look into this site to know the best casino games and experience how they provide customized in-game experience. All thanks to AI, gamers can get enhanced gaming experiences based on their preferences.
Music streaming services
Today, many music streaming apps and services are available to the audience. Services like Spotify, Amazon, and apple music are providing large music libraries and enabling them to listen to any song they want. And streaming their favourite music on the web or downloading it on their preferred device works mainly on a subscription basis.
Social media apps
In 2022, with more than 1 billion monthly users, Tik Tok has the potential to become the most robust social networking channel. Today, more and more consumers are willing to shop and avail of various services seen on social media. Thus, social media will open the opportunity for businesses to gain support and earn money.
In the wake of technological breakthroughs, the media and entertainment industry is expanding rapidly and transforming beyond our imagination.