Toronto Mike

The Future of Entertainment Industry: 5 Trends That Will Pave the Way Forward

The hectic and often overwhelming nature of our everyday lives compels us to find an outlet to unwind every now and then. Whether it be sports, video games, movies, or whatever else one might crave for, the entertainment industry has a strong foothold in the worldwide economy and it’s not going away any time soon. In fact, thanks to technological advancements of the recent years, it’s

poised to grow even stronger. But what lies underneath its core driving factors?

Stay tuned as we’re about to delve into 5 trends that will undoubtedly leave a mark on where the industry is headed:

1. VR

Virtual reality (or VR for short) is a new vector to explore across a number of industries, particularly so in the gaming sector. At one point, all a provider would need to do is to offer an enticing casino bonus for attracting additional customers. But now, with increased competition and all, it’s all about offering a live casino experience that’s powered by the latest technology. Industry experts are speculating that the technology will reach its full potential in 2022.

2. 5G

5G is much more than just a faster internet – it’s moving the boundaries of what kind of content will be accessible on the go. Think of streaming 4K movies in real-time. Now imagine what would happen if we were to apply some virtual and augmented reality on top of that, and it almost feels like an episode of some sci-fi series. Except that it’s real and it’s unfolding before our very eyes.

3. Convergence

Speaking of streaming, no one is willing to go through the hassle of downloading things anymore. Nowadays, the game revolves around getting that instant fix and being able to access digital content anytime, anywhere. In other words, it’s a matter of unrestricted access and convenience. Hence, it’s natural to see radio stations, streaming services, and podcast stations duke it out for their piece of the streaming market pie.

4. The clash of new and old market players

Given the market isn’t big enough for everyone, countless mergers and acquisitions unfold on a regular basis. Disney has acquired the 21st Century Fox and Time Warner is merging with AT&T. We have witnessed traditional media giants fighting it out against the newer players such as Amazon Prime, Netflix, and Google. Question is, who will prevail?

5. Increased data consumption

Once again, this is a testament to where content is headed in general – and the answer is ‘mobile’. Think instant, location-independent, and lightning-fast. Due to how much of an improvement 5G is in terms of data transfer speed, increased data consumption logically follows the recent developments. Soon, we’ll grow accustomed to being able to stream every piece of content and digest it on the fly. Whether it be movies, podcasts, series, audiobooks or even live tournament streams in 4K, taking our entertainment with us (without downloading it beforehand) will become the new norm.

Conclusion

Like it or not, the future of entertainment is now. While it’s hard to notice that technological advancements are taking place when comparing the current year to the last one, they become pretty apparent when taking a look at how things are changing over the course of decades. And the best is yet to come.

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