How Technology is Transforming Online Entertainment
Media Entertainment Tech Outlook | Thursday, June 25, 2020
The media and entertainment industry is changing due to the involvement of technology.
FREMONT, CA: Nowadays, consumers have become multi-device and multi-platform users due to which brands have to know their targeted audience and where they spent their time. Therefore the content plays a significant role in the media industry because starting from concept development and licensing to identify the way people consume their preferred videos and music.
Presently, the media and entertainment industry has also witnessed a massive transformation due to the technological advancement in cellphones, rendering g software, cameras, smart TVs, advances and wireless sound systems, and computing processors. Others such technologies like artificial intelligence (AI), virtual reality, and augmented reality (AR and VR), blockchain have also enhanced the content delivery, which has extended the growth of the streaming services.
Moreover, the process of interaction has also changed among the consumers and content creators due to high-speed internet, easy reaching out, and reduced cost of content creation. In the music and video industry, the primary driver for its revenue is streaming. The increasing importance of data and its capability to change production and delivery of the types of media has led to a shift in consumer behavior and technological advancements.
Enhanced audience engagement
Over-the-top (OTT) content includes video, audio, and other media that can be delivered on the internet without any involvement from the mediators. The OTT platforms are in high demand because of the revenue generated from subscription and advertisement of the brands and products. Therefore, the creators can decide how they want their contents to be used, distributed, and sold.
Transformations resulted due to technological advancements
The ways in which issues regarding ownership and proprietorship were managed by the institutions and distributors have also changed due to the power of the internet along with blockchain technology. The technologies of AR and VR have also allowed creating various experiences from the content, which are story-driven to the outstandingly delivered stories and the experience-driven entertainment.