Insightful technology drifts are driving media and entertainment companies to meet their business objectives.
FREMONT, CA: As digitization continues to reshape the media and entertainment industry, some trends, in particular, are going to drive critical developments. Here are significant hot trends that are going to mold the industry dynamics significantly.
• Blockchain's Essence will Continue
With digitalization transforming the way content is created and delivered, media and entertainment businesses must be able to secure their intellectual property. This is where blockchain comes to play its part. It is one of the hottest buzzwords in the industry right now because it has the potential to ease the complexities associated with rights management.
• Network Loyalty Becoming a Thing of Past
Previously there were only a handful of networks to choose from when it comes to content consumption meaning that customers had to wait for a time slot for watching their favorite shows. Today the media landscape has fragmented, and now is a world of endless streaming. Also, customers are accustomed to watching contents on their smart devices, making network loyalty just a thing of past.
• Localization Opening Up New Markets
There is a pressing need to deliver content in multiple languages for the audience across the globe to gain market share. The years ahead will witness a more significant number of international language content versions being generated. Advances in AI assisted localization will pave the way to reach the audience in a cost-effective method, helping media and entertainment companies to manage a larger volume of content.
With so much momentum in the industry landscape, media and entertainment firms need to focus on implementing ripe technologies to help them cope with the market drifts. A smart approach can indeed tap new revenue opportunities to amplify market cap.