Media and Entertainment Industry: Trends to Keep an Eye on

by Tech Addict Writer, Blogger
Unless you have been living under a rock, you know the media and entertainment landscape has changed considerably over the past couple of decades. The sector is an ever-evolving one to say the very least. It is constantly changing and reshaping itself with the technological advances that are always at the forefront of the said innovations.
As we step into 2022, the media and entertainment leaders are operating in a landscape that is permanently changed by the pandemic. The modern-day US consumer has adopted new habits and preferences while the forces are buffeting the industry have increased in intensity. Today, we have a variety of means, such as Netflix, YouTube, Hotstar, etc., besides the conventional TV set to access media and entertainment. Such change will continue for the foreseeable future and if you are a company that is looking to stay ahead of the curve in the face of such change, we recommend you also keep an eye on what the future holds. To help make things easier, we have collated a list of the upcoming trends in the M&E sector in 2022.
    1. Direct-to-customers video streaming: The concept of direct-to-customers had started to take off long before the pandemic happened, but we must admit that D2C streaming received a massive boost only in 2019. This is understandable considering that people wanted more and better entertainment content while they spent most of their days being confined to their homes. This led to OTT platforms such as Amazon Prime Video, Netflix, Hotstar, and countless others to embrace D2C streaming like never before. 
    2. Blockchain: While blockchain has been, so far, been associated with only cryptocurrency, the former is now steadily making its way into other sectors as well, including the media and entertainment sector where it is being increasingly used to address issues involving intellectual property rights. This concept, then, can be used to determine original content owners, prevent content plagiarism, etc.
    3. Better personalization: It is no secret that the modern-day customer has high expectations and demands from the companies to which they give their business. About the media and entertainment industry, this translates into the demand for content that is tailored to their preferences and expectations. Research shows that customers are willing to pay a premium for personalized content. Of course, to achieve such levels of personalization, OTT service providers and others in the M&E sector will need assistance from avant-garde technologies.
    4. Data analytics: Yet another critical change the sector must embrace is the growing influence of data analytics on marketing strategies and endeavors. Thanks to the growing influence of artificial intelligence, machine learning, and other such advanced technologies, media & entertainment companies are starting to realize that personalization matters not only in the context of content but also in marketing plans. This is why the sector has seen the growing use of data analytics to understand customer behavior, to better execute customer segmentation, etc.
The media and entertainment industry has evolved considerably, thanks to technology. However, this transformation alone is not responsible for the changes we see in this sector today: the coronavirus pandemic also has had a significant effect on how end-users consume content. To embrace this change, keeping a close eye on the latest trends is important. All these changes have, of course, also caused the media and entertainment industry to feel a growing need for modern solutions to quickly and efficiently adapt to the market’s evolving demands. So, if you want to stray ahead of the curve in 2022, we highly recommend that you start looking for a trusted entertainment industry software development company to help you adapt to the many changes that the future of this sector holds.

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About Tech Addict Innovator   Writer, Blogger

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Joined APSense since, November 22nd, 2016, From Vododara, India.

Created on Feb 17th 2022 06:43. Viewed 362 times.


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