Digital Trends Underpinning Media & Entertainment in 2020-21
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The media and entertainment industry is often the most proactive in enhancing itself for the digital shifts of tomorrow and 2020 is no different. In fact, what was thought of the marketplace prior to the COVID-19 outbreak, has only been proven right and rather catalyzed by people staying at home and turning to the streaming services for entertainment.
One of the most glaring digital media and entertainment trends is that an increasing number of players are retracting from video content aggregators in order to stream their content direct-to-the consumer.
The move signals an attempt to maximize the cost of operations by canceling out cable and satellite royalties. This and a whole lot more makes up for the digital innovation trends, poised to reverberate through the fabric of this sector. Knowing what these trends are can give you a leg up in the crowded entertainment sector.
The demand side are the users, you and us, who create the demand for a product. While postulating upcoming industrial changes it’s better to draw the line between trends that are being forced onto M&E studios by the consumer, and vice versa. In this section, we’ll mention the most palpable consumer-end i.e. the demand-side trends fruiting in the M&E industry.
These trends are attributable to the audience side of the picture as without their behavioural patterns, whether online or offline, we may not have had much development in this direction. The latter sections will touch base with the role of technology in the entertainment and media industries.