While there have been significant changes in every aspect and industry, the media and entertainment industry’s transformation has been massive. Cable and dish networks are being replaced by live streaming pay-for-service video providers like Netflix, Hulu, etc. And now, sports enthusiasts have the ability to follow the best sports picks and predictions online.
What’s more important, consumers are accessing such services from their mobile devices, spending over $2 billion on live streaming video services every month.
So, how exactly is technology changing the entertainment industry?
Streaming Services Are Transforming Consumer’s Viewing Habits
Everyone is busy with their lives currently. Gone are the days of people sitting down to watch a television show at a scheduled time or waiting to rewatch a repeat of an episode they missed.
Now streaming services are allowing every consumer to watch television shows at their convenience. A lot of studios release an episode per week, giving viewers the chance to watch it any time of the week and wait to find out the end of the story. On the other hand, services like Netflix encourage consumers to binge-watch series.
Streaming services also give audiences the chance to watch/ rewatch classic films and shows from the bygone era, which wouldn’t have been possible otherwise. This helps bring tons of audience, especially younger viewers to older programs.
Additionally, the increased improvements in television hardware also result in various changes. Ultra High Definition television—UHD—and bigger television are giving users the experience of watching television similar to that of the cinema. The vast volume of films and television available means users have more choice available than during the era of DVD and Blu-Ray collections.
Services like the Brit Box that focuses on British Shows and family streaming services like Disney+ are also catering to the esoteric interests of consumers. Disney+ is also currently on the way to hitting 20 million subscribers.
Alongside all these changes, experts suggest AI will play an integral role in the screenwriting and idea curation process for streaming services. This will further help streaming services target consumers more accurately.
Social Media Is Giving Voice To Actresses Through #MeToo
Social media has exposed the Hollywood film industry’s sexist attitude and shone the light on the abuse committed by high profile directors and actors who took advantage of their position.
Actresses were given the power to speak out for themselves through social media for the first time, often with the hashtag #MeToo to gain public support. This put pressure on authorities and production companies to take action against the high-profile personalities who committed crimes, and some of their awards were removed from them. Many producers are now even facing trial.
However, the scandal didn’t just stop with members of the Hollywood establishment. It became a cultural shift. Social media platforms like Twitter took the movement forward, allowing actresses from all across the world to get involved in the movement.
The consumers and the viewers acting together put pressure on advertisers and backers to pull out of films that employ those accused of misconduct.
Personal Adverts Becomes More Personalized
Technology is also transforming the way how advertisements work. When watching a film online, instead of showing random adverts, viewers are now served with adverts for products and services they are interested in.
When you sign into Amazon Prime or Netflix, you might have probably noticed the suggestion list that shows you films and television series recommendations based on your viewing habits. It is a kind of advertising designed to get you to continue watching shows and movies on the platform.
Streaming services also sometimes send emails with suggestions giving you advice on what to watch next or reminding you to finish watching a show.
Your viewing activity on streaming platforms is also used to influence adverts on other platforms. In case you have linked your Facebook and Netflix accounts, you are publicly listing your preferences, so advertisements on Facebook and other services will be influenced by this information. For instance, if your search and like preferences on a streaming platform indicate your love for classic movies or rom coms, you might start seeing adverts across the web for weekend trips to England where you experience the locations in real-life.
The Entertainment Industry Is Changing For The Better
The entertainment industry is evolving rapidly. But the good thing is it is changing for the better. Streaming services, sports apps, and betting sites are giving consumers more choices and allowing them the ability to make the most out of one subscription each month.
All the information can be consumed from the comfort of the home on a large television, laptop, or mobile device. Furthermore, social media platforms give users the ability to share their opinions and thoughts about a particular game or movie. Personalized advertising also helps consumers not having to deal with irrelevant and bothersome advertisements.
