The entertainment industry has grown tremendously in the past decade. Thanks to technological advancements, you have limitless ways of acquiring and consuming your favorite entertainment options. Entertainment companies have taken advantage of the technological disruption that we’ve witnessed in recent years to supply consumers with high-quality and diverse content. On their part, consumers have more options when it comes to entertainment.
The Internet, in particular, has been instrumental in shaping the entertainment industry. Thanks to the Internet, it’s easier for consumers to satisfy their entertainment needs, be it music, news, or exclusive info, such as the performance of stock markets. The Internet has made entertainment more available to consumers than ever before. Here’s a look at how technology has shaped the entertainment industry.
It Has Made Entertainment More Consumer-Focused
As technology grows, so does entertainment content become more consumer-focused. Although dish and cable networks are still popular, consumers are increasingly supplementing it with live streaming services. According to a Deloitte survey, 50% of consumers who pay for cable networks also subscribe to live streaming services such as Netflix and Hulu. Millennial consumers are the force behind the growing popularity of video streaming services.
Increased Engagement With Consumers
Today’s consumers are tech-savvier than before. Therefore they tend only to choose and pay for what they want as far as entertainment is concerned. This presents a significant challenge to traditional satellite and cable companies, which continue to offer packages of TV channels that consumers don’t want. Often, it’s lost to these companies that consumers only use their services because they typically get bundles with their Internet subscriptions. However, this will soon become a thing of the past now that 5G Internet services are being rolled out.
With entertainment getting more consumer-focused, providers will pay more attention to the creation of content that meets consumer preferences and current trends. Already, entertainment companies such as Netflix are offering personalized content and recommendations to consumers. Likewise, they are increasingly providing package combos that suit individual consumers rather than a generalized audience.
The Growing Prominence of Voice Technology
If you are a gambling enthusiast, you certainly want to be able to say GetLucky online casino, and be directed to the website without clicking on any button. This is one of the perks of voice technology, continues to gain immense popularity across the globe. A significant number of American households have both a smart home device and an Internet-connected entertainment device.
With voice interactions becoming more common, consumers’ preferences will shift towards streaming services and smart home devices since the two operate in tandem. Operators of streaming services will be forced to streamline not only their product selection but also the various integrations that other voice assistants and connected services offer to consumers.
Gaming Has Become a Universal Phenomenon
The gaming industry has experienced immense growth in the past few years. Gaming has become a universal phenomenon and not just an activity that is enjoyed by a few individuals who own consoles. Technological advancements have driven growth in the e-sports industry. You can now play with gamers from all over the world without having to travel. Likewise, you don’t have to go to a gaming arcade of a casino to enjoy your favorite games.
Thanks to the growing number of gaming websites and the availability of high-speed broadband and high-tech gaming consoles, you can game from home. Gaming is no longer seen as an activity reserved for a few. Likewise, technology has made gaming a mainstream sports activity. We now have professional gamers who participate in tournaments with lucrative purses at stake. Gaming enthusiasts can follow these competitions from their homes, just as it is the case with those who watch traditional sports competitions such as the Super Bowl.
The Growing Popularity of AI-Generated Media Content
A lot has been said and written about how artificial intelligence has made life more comfortable. Apart from enabling us to learn, live, and work better, AI is also catering to the entertainment needs of many people. It has now integrated itself into the everyday entertainment options of the modern consumer.
For instance, Amazon’s Alexa is equipped to help users compose music by using pre-recorded audio samples and algorithms without human interference. Although the quality of music produced in this manner won’t be on Billboard charts any time soon, this technological advancement proves how AI can be an essential tool as far as entertainment is concerned. With time, it will become an integral component in the content creation process.
There are so many real-world entertainment applications for the technologies that we have today. Some of the technological advancements that we are witnessing today seemed like a far-fetched dream just one decade ago. Nonetheless, they have come to fruition, and no industry has seen the impact of technological advancements more than the entertainment industry. Modern technology will continue having a significant effect on the way you enjoy entertainment for years to come.