It’s safe to say the way we get our information has changed dramatically over the past couple of years. We no longer rely on the radio and cable tv for our information. Instead, we use social media and digital services to entertain and inform us. Though you may think entertainment technology has hit its peak, you’re mistaken. Here are the five trends that are shaping entertainment technology.
Several years ago, cable companies responded to consumers by researching rating and public interest. However, these decisions took days, even weeks to make. Why? Because the technology just wasn’t advanced enough. But now, companies are using real-time data to develop software and services for the consumer. Through real-time data, companies can quickly understand the consumer and enhance customer service.
Most of us aren’t aware of how smartphones work in connection to wifi. We only know whether our wifi connection is strong or not. But as entertainment shifts to online services, and more people rely on wireless communication, it’s putting pressure on bandwidth. Thus, telecom industries need to meet the growth of market demands. In response to the demand, new 5G networks create high-speed communication for its users, changing the way we receive our information for the better.
Virtual reality (VR) and augmented reality (AR) and are becoming mainstream and giving people a real glimpse into the future. The global VR market is estimated to increase to $26 billion US by the end of 2022. But what does this mean? Services such as Facebook 360 and YouTube 360 will be able to expand, allowing users to experience and interact with content. As the culture shifts to experience-based demand, entertainment technology will focus on this sphere.
Convergence in the Industry
Streaming services, TV companies, social networks, and telecom are all trying to get a piece of the pie. In a race to put their name on the map, companies are trying to converge their services, consolidate them to increase profit and users. For example, AT&T and Time Warner merged and Disney acquired most of 21st Century Fox. As the competition increases, companies are consolidating to stake a claim in the marketplace.
From Cable to Video Streaming
With 2.5 billion people using smartphones globally, there’s a definite shift from cable television to video streaming. Though cable is still being used, it’s expected to decrease by 25 percent by 2022. But the debate between cable vs. video streaming makes it hard to pick sides. Cable typically offers more channels. However, it’s simply less flexible for people who are on the go or don’t own a tv. Through their smartphones, they can still stay connected to series and movies.
Though these are current trends, media and entertainment are continually evolving as companies are continuing to push the boundaries to serve consumers better. By the speed of change, we can only guess how entertainment technology will shape the world.