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Media and Entertainment

  /  Media and Entertainment

The pandemic has permanently changed the landscape of the media and entertainment industry and that affects almost everything in its ecosystem- from live concerts to online movies, to e-sports will have to adapt to the changing times. There is a huge change in the way how media is consumed now and that is reinventing newer business and distribution models, opportunities for monetization, and more. The highlights of the ongoing changes are that not only the leaders in media companies are engaged in adjusting their operational strategies, but also there is a big shift in consumer behavior and expectations patterns. At Sonicorn, the trends to watch in the coming years are:

• As suggested by major studies conducted around the world there will be a massive increase in subscriptions to on-demand video services in the coming years and that surge cannot be handled by the conventional business models. This leads to the importance of developing strategies and reinventing new operational methods.

• As the customer base is increasing at a pace never seen before, the business models are beginning to heavily focus on price-value relationships as that influences the process of consumer decision making and keeps the base intact. Besides that, the focus also remains on the efficiency and effectiveness of its business models.

• By leveraging the capabilities of artificial intelligence and machine learning, the marketing exercise in the industry will have a new look. The streaming companies will extensively use data analytics for tracking consumer behavior patterns and offering more personalized content suiting to their taste.

• The capabilities of Blockchain technology will ease the complex issues in managing digital and intellectual property rights, using its methods of storing content and making transactions will bring in more trust in the value chain of the industry.

• The consumer base for Virtual Reality and Augmented Reality will witness unexpected growth as these technologies not only provide an immersive experience but also let the players interact and socialize with each other right from their mobile phones.

• Predictions are that the e-gaming audience will grow manifold and show more enthusiasm – e-sports will be seen as a key driving force for interest in immersive user experiences.

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