The platforms through which we are exposed to music, movies and other forms of media are evolving at such a pace that it is difficult to wrap our heads around this phenomenon. And, despite this pace at which the entertainment sector is evolving. As major networks and studios continue to launch their own direct-to-consumer streaming services in 2020, competitors will likely scramble to offer content libraries broad enough to both attract and retain customers. People tap into their smartphone screen and enjoy their favorite piece of the entertaining show.
While the use of VR and AR in media and entertainment is relatively new, those alternative realities are already captivating consumers and making businesses money. In the same way, Pokémon GO operates (as another example of augmented reality), businesses can encourage shoppers to visit their physical locations by rewarding users with tokens in exchange for visiting the business. Disney has a similar vision with its Play Disney Parks app. The app provides games that users can play while they are waiting in line at Disney theme parks. Using Bluetooth beacons, Disney tracks where players are located in real-time and then asks players to search for markers near their locations. Players can also use the app to trigger real-world events.
We all have downloaded digital media on our smartphone and stored them on a micro memory chip. With streaming, the thing has changed and become simpler. There is no rocket science to argue the reason. The shift has occurred because now it is possible to listen to ten million songs by paying the price of one single digital album download. Video streaming is also increasing at a staggering rate and on top of that, it has no plan of slowing down. If anything, we will see an enhanced version of this tech in the near future. It is assumed that the revenue of video streaming will be tripled by 2021. Consumers are moving towards phone applications for television that is widely used for streaming videos. It will experience the most substantial market growth rate that will only increase with the rate of a digital platform that is widely used for marketing and branding products. As we enter 2020, it’s clear that the growth of video streaming will continue to explode. People have indicated that they have at least one streaming video subscription almost 69 percent than possessing a traditional pay-TV subscription.
The ad-supported video has already become the dominant model of delivering streaming video to consumers in China, India, and throughout the Asia-Pacific region. Sometimes it is combined with subscription services; in other cases, revenue comes from ads alone. Ads also provide much-needed revenue for streaming providers that seek to expand into different services, such as gaming and music. Due to the increased personalization made possible by AI, it’s likely that generalized, traditional advertisements and product placements will soon be non-existent. These methods will be phased out in favor of more targeted, personalized content. It’s only a matter of time until ads become so personalized (with the use of AI, behavioral data, and even facial recognition) that every ad out there is directed at a specific buyer persona and, eventually, a specific person.
Data-driven tech has many factors that will be an involved process including automation, Artificial Intelligence (AI) and machine learning. With the help of different parts data, it is possible to get a proper insight into the data so that companies can make an accurate decision. There is no doubt that humans are essential for the success of any firm but when a large amount of data is involved then it is not possible to depend on manual work.
In the future, 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 in order to entertain people in a dream come true manner.