Tracking the Technology Trends in Media and Entertainment Industry

By CIOReview | Monday, July 22, 2019

Technology is taking entertainment to the next level, where content, quality, and customization are creating the best experiences.

FREMONT, CA: Every industry is in the middle of transformation impacted by the rapid development of modern technologies. The entertainment and media industry is no different. Full-scale adoption of emerging and exciting technologies to incorporate advanced capabilities is the norm now. Artificial intelligence, machine learning, internet of things, blockchain, and many more technologies are the major drivers impacting many aspects of the industry directly and indirectly.

The most noticeable development is the explosion of online streaming services. These streaming services offer a wide variety of quality content to different segments of the global audience. Additionally, the flexibility concerning payments, subscriptions, and compatibility with numerous personal devices is leading to their immense popularity.

Internet-based advertisement has now emerged as a very appealing way of marketing. The popularity and affordability of technology have made digital mediums a good option where companies can target audiences effectively. Mobile advertising is predicted to account for 75 percent of the revenue generated from internet-based advertisements.

On the video game front, there is also a substantial rise in revenue generation. With a broader consumer base, the industry is evolving and growing. Technologies that are making videogames more enjoyable also have a role to play in this increased popularity. Many are looking forward to the virtual reality revolution. Virtual reality technology has already made it to the market, but its potential is yet to fully utilized. The technology can make entertainment immersive, thus increasing its value.

4K televisions are now entering homes. These televisions enable much higher resolutions than the previous models with older technologies, thereby enhancing viewing experience manifold. The technology of 5G is already in advanced stages of development. It is one of the technologies that the media and entertainment industry is looking forward to very eagerly. 5G can bring tremendous growth in revenue generation because of the hugely improved network capabilities and speeds.

All the channels of the media and entertainment are taking up significant makeovers to provide the best products and services to modern consumers. Rapid growth in revenues will be a direct consequence.