Technology is in a continuous change, and because we live in a world where technology is a determinant factor we should change with it. Convergence, technology, and trust – these trends will shape the future of the entertainment, media, and telecommunications industries in the coming years, according to the latest research from PwC.
According to multiple surveys and our own observations, we have entered into continuous and rapid industrial development. Amid broad-based, albeit unevenly distributed, growth, three important factors emerge that affect all companies within the business: adaptation, consumer engagement, and confidence-building.
Meanwhile, new business models are being developed to benefit from new sources of revenue and to remain relevant industry players. The skills required include reaching out to fans and communicating with customers. Because of these progressions and the persistent improvement of innovation, assembling and keeping up the buyer and public trust are getting progressively significant, while the speed of progress is quickening further.
This is because of the consistent development in worldwide industry incomes. As indicated by a PwC study, which incorporates income information and estimates for 15 industry sections in 53 geographic territories, worldwide amusement and media spending will accomplish a build yearly development rate (CAGR) of 4.4 percent throughout the following five years.
The development of augmented reality
Inside the general development, the quickest income development is normal in the computerized innovation-driven fragments. Interestingly, paper and magazine incomes will decrease over the course of the following five years. The development pace of books, radio, and conventional TV, and home auditorium alone doesn’t surpass 2%.
Even within the most dynamic segments, there are sharp differences between each area. Although the video games and e-sports segment is generally growing, the growth rate of e-sports will still continue each year.
The E-sports and video games category includes all activities that which is outside the offline space. Thus everything that includes electronic technologies and the internet can be listed here. One of the most significant changes and expansion both in quality and quantity was seen in the online casino industry. While 50 years ago, you could play only in reality, now you have a lot of options to choose for. There are mobile apps, websites for both phones and PCs. As for the range of offers you also have multiple games to choose from. From classic games like poker, blackjack, slots to upgraded games like Book of Ra 10 and Sizzling Hot, that doesn’t even exist in the past. However, the cherry on the top is still the possibility to play casino games in the Virtual Reality world, which is quite a unique experience in the entertainment industry.
Trends in the digital environment
The latest five trends of the convergence wave remodeling the business are the following five important factors:
- Universal Internet Connection: The quantity of fast portable Internet associations worldwide will increment by 2.2 billion by 2022, essentially expanding the market for the utilization of rapid versatile substance. The advancement will occur in 2020 when full worldwide information traffic by means of cell phones will go before broadband landline information traffic.
- Increasing phone usage: The explosive growth of mobile access worldwide shows that consumers in virtually every market access to the Internet through mobile devices. Mobile devices are thus becoming increasingly important to advertisers.
- Social media platforms come to the fore: Apps of all kinds (this includes social media platforms) are ahead of traditional content services in attracting consumer attention. A portion of the customary substance organizations is currently hoping to venture back by building up their own business stages.
- Customized arrangements: Today’s cognizant buyers reject a uniformized content encounter, so it’s crucial for organizations, including super-contenders and specialty market players with more modest adherent bases, to utilize information investigation and AI to help their methodology advancement and customize their item contributions. The allure of the live experience remains: ticket deals for e-games will increment by 21.1 percent each year by 2022.