Latest Technology Trends in Media and Entertainment Industry

Latest Technology Trends in Media and Entertainment Industry How Emerging Technologies Tailor the Future of the Media Market

From endless numbers of entertainment channels to various mediums for accessing desired content, the emerging technologies have brought tremendous benefits across the media and entertainment industry. Professionals understand the need for taking innovative approaches in order to stand firm or enroot their business position in the expanding entertainment market. In the past few years, media companies have continuously invested in techbased solutions for gaining long-term business profits.

The increasing adoption level of IoT devices with entertainment features, entertainment preferences based on AR and VR, viewership rate across streaming platforms, and other innovative business models have boosted the media and entertainment industry. The digital era contributes to creating a standard ecosystem across the media and entertainment market, letting various media companies experience increased competition and increasing the demand for media technologies. Advanced features and abilities of different types of entertainment platforms like gaming applications, video, and audio streaming apps, live entertainment facilities, and more increase the customer-base and create new business models for media companies.

Today, it has become a mandate for every business to focus on its customer demands and deliver customized services. The media and entertainment industry is highly influenced by the idea of customer-based business models. The popular subscription models are great examples of effectively meeting customer demands while

gaining long-term business profits. Tech-based streaming platforms hold the potential to smartly identify customer preferences and develop recommendation lists for the respective user accounts. Such tech-driven advantages promise to help understand the users and predict their future needs.

In the coming future, innovative media and entertainment solutions are expected to bring new waves of business success and expansion. Media companies need to take complete advantages of next-generation features offered by the emerging technologies to build a strong brand position in the global market.

How Live Streaming Benefits M&EBusinesses

The increase in usage of electronic devices like mobiles, tablets, smartwatches, smart TVs, and more has created numerous opportunities for the media and entertainment companies to reach their potential viewers. The rapidly growing rate of viewership across the globe is the result of numerous technology-integrated tools and applications, which help the media professionals to know their customer preferences, prime watching hours, and market trends. In recent years, live streaming services have gained massive popularity and boosted the revenue for media and entertainment businesses.

The modern media and entertainment businesses massively invest in innovative tools, which support them for live streaming their content with great control. There are billions of viewers around the world who prefer live streaming services rather than saving or downloading the content to watch later. This preference of audiences offers various benefits to the media and entertainment businesses like increased ROI, streamlined content distribution, and increased scalability and reach.

Today, online-gaming businesses are primarily influenced by live-streaming services. Live streaming games hold the potential to attract millions of unique viewers on the day and hourly basis. There are numerous online games available on the web, where the individual can participate, view, and even vest money in players or teams, which raise the competition level of game and entertainment providers across the market.

Tech-savvy entertainment providers look for innovative solutions that can allow them to create a digitally communicative environment during live streams. This ability can boost the engagement of viewers and provide a high level of viewing satisfaction. The interactive platforms for live streaming bring monetizing options, which let the content providers use an integrated paywall to charge viewers a fee and let them watch the content. There are other mediums of payment, like subscription model and pay per view, which make the live streaming platform a generator of solid revenue and ROI.

Source : Media and Entertainment Tech Outlook