How do techno-trends affect the media and entertainment industry
In the last decade, the channels of communication between the customer and the brand have changed dramatically, including due to the emergence of new media formats.
Cable television lost an unprecedented number of customers in the third quarter of this year, as people chose subscriptions for their television content.
At the same time, as Social Media Examiner writes, audience sympathy continues to be won by streaming: It was already preferred by 35% of respondents, compared to 28%.
Even the cryptocurrency has taken its niche, and this method of payment is increasingly preferred by users. The entertainment industry is developing by leaps and bounds, and here are just a few trends that we can note.
An example of the integration of artificial intelligence (AI) into the media and entertainment industry, a cable service that provides personalized advice based on user habits.
Recommends topics for articles for authors based on their previous materials and headings that convey the emotional of the text and photos used.
Similarly, AI can soon be used to create commercials as well as to simplify post-production, making the entire process of content production and placement more consistent, cheaper and faster.
Virtual and augmented reality
Relatively new technologies VR and AR are already actively used and bring profit to companies. Captive’s gaming application, for example, has combined blockchain technology with AR to develop interfaces in which consumers interact with brands. After registration in the application, users collect “Captive Coins” and then spend them on buying real goods on the trading floor.
Disney company uses similar stimulating mechanics in Play Disney Parks application. Guests can play while waiting in line in Disney theme parks.
With the help of Bluetooth beacons Disney monitors the location of players in real time, and then asks them to perform tasks. Visitors can also, for example, be near the Peter Pan Flight ride to make the Tinker Tinker appear inside the nearest flashlight.
Global Entertainment and Media predicts that by 2020, revenue from VR content will grow to $5 billion, making it one of the hottest trends in the media and entertainment industry.
Thanks to artificial intelligence, traditional advertising will replace more personalized content. Imagine a video that refers to you by name, recent purchases, or events you’ve attended.
On the one hand, it may seem crazy, but the results of an Adlucent survey show otherwise – 71% of respondents said they prefer ads that fit their personal interests and habits.
Not far off is the day when communication with the consumer will become so personal (using neural networks, behavioral data and even face recognition) that each advertisement will be aimed at a specific customer and, ultimately, at each of us.
Blockchain technologies can completely change the media industry and entertainment sphere, the main problem of which is extremely unfavorable financial conditions for authors from distributors and labels. Blockchain is a real chance for entertainment content producers to get rid of intermediaries on their way to the consumer.
One of the first examples of a decentralized streaming platform that authors and users can use to build a more profitable interaction system is Coin.