Are Tech-trends Redefining The Future Of The Entertainment Industry?
It’s not surprising that technological advancement continues to transform the entertainment industry in every aspect. Amid a global pandemic when people are restricted to go outside, hang out with friends, go out for clubbing and theatre to watch new box office releases, the need for online video streaming services has witnessed drastic growth.
The entertainment companies are exploring new ways to adapt the digital landscape to be a better part of the decade. Businesses are putting all the effort into offering new user experiences and connecting with their customers in the best possible ways. With the growing demand for internet services, meaningful and quality video content, the TV subscription plans took a backseat.
Do you know that approximately 60% of millennials watch streaming videos daily? Platforms like Amazon Prime Video, Netflix, Disney+Hotstar, and YouTube have registered a sudden spike in viewership across the globe.
The drastic growth in digital content consumption from different sources like TV streaming, gaming, and mobile apps has been observed in nations like Italy and the USA. The quick adoption of mobile applications to access social media and other entertainment platforms is anticipated to fuel the rise of online streaming services.
Let’s have a brief market report to understand how digitization will impact the entertainment industry in upcoming years. It will help you understand the current state of digital transformation in the entertainment industry.
- The Video Streaming Market is expected to reach $223.98 Billion By 2028, with a CAGR of 21.0%.
- The rising technologies like Blockchain and Artificial Intelligence are the significant reasons behind the growing demand for digital content.
- Reportedly the over-the-top (OTT) segment will rise at the highest CAGR over the forecast period.
- Technologies such as 3G, 4G, and LTE have substantially led to the expanding use of video streaming.
- Lead players like Netflix and Amazon have encountered massive spikes and dominated the global entertainment market.
- According to PwC research, the subscription video-on-demand (SVOD) and over-the-top (OTT) video, including streaming services, is expected to reach double the box office in 2024.
- The most potent nation China alone is expected to register a revenue of $83.9 billion in the next five years.
- Due to growing online video consumption, the TV share was expected to drop from 33.9% in 2017 to 31.6% in 2018.
- As per PwC research, by the end of 2021, fixed broadband can reach 1 billion households.
Emerging Technologies That Are Revolutionizing The Entertainment Industry
Consumers are constantly moving towards multi-platform and multiple-device applications. Entrepreneurs must know their target audience and their areas of interest. Where the entertainment industry is reshaping at a rapid pace, modern tech innovation and devices have become the center of attraction. On the other hand, content is the master key in every aspect of the entertainment sector. The advancement of Smart TVs, wireless music systems, smartphones, cameras, and automated computing processors have introduced a new way of content delivery.
The fast internet connectivity and ease of reaching customers have entirely changed the interaction between users and content creators. Technological growth is strengthening digital streaming services. Video and audio streaming led to users’ behavioral changes and enhanced the delivery of all media types.
Let’s highlight innovative technologies that transformed the way of content creation and transmission in the entertainment industry.
Augmented Reality (AR) & Virtual Reality (VR)
Augmented Reality and Virtual Reality have grabbed all the spotlight in the entertainment industry. The most promising tech innovation enhanced the connection between viewers and content creators. Pokemon Go has set an example that lifts the power of AR and VR. Business giants like Google and Facebook consider AR/VR to bring accessibility, mobility, and pricing to the table. Whether it is story-driven content or live streaming, Virtual reality and augmented reality app Development boosts the user experience like never before.
The entertainment industry is adopting AR and VR in multiple ways:
- Replaced the need for expensive keypads and delivered a fantastic gaming experience at the same time
- Helps in the development of enterprise-level media software for education and learning system management
- Reinforces the digital affection into movies and box office vai immersion
- Innovate wearables for consumers who move into art galleries, museums and present incredible artifacts with additional information and features.
Not even a single sub-set of the entertainment industry is untouched by the impact of AI. High dimension animation, OOH (Out-of-home) advertising, radio, VFX, or realistic visual effects are some of AI’s reflections. The entertainment platforms firmly utilize AI-driven solutions in intelligent data streaming for rapid delivery of the content. Do you know that the global AI software market is expected to reach 118.6 billion by 2025? AI is strengthening entertainment platforms in the following ways:
- Enhanced Advertising and Marketing Landscape
- Personalized User Experience
- Extensive Usage of VR and AR
- Facilitates Real-Time Streaming
The entertainment industry adopted Internet-of-Things (IoT) to get a new way of success. When global businesses were dealing with strict lockdown, companies like Amazon and Netflix were playing in millions. Their shares were all above the ground in the share market. Undoubtedly, IoT app development is causing significant rifts in the entertainment industry. Let’s closely look at the benefits of IoT in the entertainment sector:
- Conduct targeted advertising campaigns
- Creation of Impressive Content
- Wider Reach & Expansion to the global Audience
- Improving the personalized content
Wearable technology is the most powerful source to make the entertainment industry a lot more immersive. It introduces new ways to users for easy accessibility of content. Wearable devices enable users to watch augmented reality videos, listen to music, and play virtual reality games.
With the advent of wearable app development, the delivery of content gets simplified. It ensures that the content is delivered into the trimmed-down format without missing out on the whole story.
Video Creation Technology
No doubt that video streaming is the primary addition in the entertainment industry. Visual representation is the master approach for the correct content delivery but it is not easy to create multiple video pieces for various audiences. Here comes video developing technology like API solutions and automated video creation solutions to simplify the process.
Automated journalism or robot journalism is nothing but computerized programs that generate new articles, stories and interpret data to produce relevant content automatically. Automated journalism is the best way to free journalists from timely reporting. It provides them more space to deal with complex tasks. It is the most affordable and time-saving tech innovation that produces the bulk of information at a quicker speed. It is best for new outlets battling with budget constraints but still wants to maintain comprehensive coverage.
Voice Search Technology
Ignoring voice search technologies can lead to the most significant loss for the entertainment business. Smartphone users are continuously using voice-driven solutions and smart speakers for quick findings. With the combination of Artificial Intelligence and Machine Learning, voice recognition technology is constantly working for content optimizations and giving a more transparent and personalized user experience. Google assistants like Siri, Amazon’s Alexa, and Microsoft’s Cortana are the ideal examples of successful voice recognition solutions.
With its supreme qualities, Blockchain is breaking technical barriers in the entertainment industry. Blockchain potentially revamps the system of revenue sharing, royalty payments, pricing, and publicity. The rising technology offers benefits like optimized paid content payment models, secure and efficient royalty payment distribution. The addition of blockchain apps in the entertainment sector makes content royalty distribution more transparent, efficient, secure, and automated. The technology enables quick and secure payments that are more efficient and less expensive than traditional systems.
The combination of Artificial Intelligence and visual recognition enables businesses to get real-time data based on users’ behavior. Facial recognition works with high accuracy to analyze personal behavior in private or public spaces. This technology is used explicitly in live concerts to capture real-time images caught by all surveillance cameras and give feedback based on the real-time footage.
Cloud Security Management
The entertainment industry is not untouched by cyberattacks. Recalling the unfortunate incident of the Sony Pictures Entertainment breach in 2014, when 40 gigabytes of highly confidential and sensitive business data including personal emails, were hacked and posted online.
To prevent the entertainment industry from such illegal attempts, cloud security management continuously fights against cyberattacks. It avoids piracy by authenticating and eliminating illegal online content streaming. The cloud management system monitors the production networks, customer data, access control, and IT rules. Factors like cloud workload and data encryption will join the center stage as more and more entertainment bodies migrate to the cloud in the public domain.
How Branded Vendors For Online Streaming Services Utilize Mobile App UX to Hook Users?
Entertainment applications make big bucks! Brands like Spotify, Apple Music, Netflix, YouTube are generating revenue in billions. You know why? Because they put prime focus on remarkable user experience. Where quality content is the masterstroke in the entertainment industry, thousands of applications are developed to grab user’s attention with a fantastic experience.
For the growth of any business, UX matters to all stages of the customer lifecycle. It clearly defines the way users interact with a brand. The top three leading media and entertainment brands are setting an example of great UX to engage users.
Netflix offers easy accessibility and a perfect user interface. The look of the Netflix interface utilizes a portion of engaging visual components that gives a superior user experience. It offers a seamless user interface. Let’s look at the five points that conclude how Netflix provides a great user experience:
Factors like interface optimization as per the devices you are streaming on, flexible search options, home screen features, recommendation and genres, and side-scrolling categories made this app easy to use and less complex.
Netflix offers a toggle feature in profile management. Parents can look after their children and control what they are watching on the app. With a key-only profile or interface, Netflix suggests animated movies or shows specifically created for kids. Parents can easily control their kids from watching adult content.
Netflix facilitates its users with a network check feature. Users can check their internet connectivity in case of buffering issues. They can test whether the problem is with their internet connectivity or in the app.
Netflix has the option to register up to four different devices to watch their favorite series, tv shows, or movies simultaneously. It keeps tabs on all the registered devices that allow users to check the list whenever they log in. Users can check the connected devices or replace them with new devices as per their needs and membership plan.
Remember that if all your devices are registered with the same account, it’s not possible to manage it via single devices. Users can sign in on multiple devices using the same account, but no concurrent video streaming can be done.
Netflix smart download features enable quick download of the next episode whenever your device comes under internet connectivity. Also, it will delete the episodes that you have previously watched to manage the storage in an efficient manner. When we talk about user experience, there is no doubt that Netflix wins!
Hulu has gradually been making outstanding digital content customers experiences and is equally competent. A band like Netflix has taken all the credit for great user experiences, Hulu is progressively building innovative and personalized solutions.
How is Hulu giving lessons for building unique user experiences?
Users always want to watch something unique, something they never watched before, and they are ready to pay for it. Hulu is primarily known for its exceptional content quality, including a wide variety of documentaries, cutting-edge dramas, and quirky comedies.
Customers make an opinion about any entertainment app within a few seconds of navigating the entire app. Hulu offers organized content and removes the clutter. It delivers categorized content that shows what’s trending and suggests more options that users might be interested in. The dedicated home screens for various events like March Madness, Olympics, and seasonal content grabs users’ attention.
Hulu takes care of its user’s likes and dislikes hence, offers personalized experiences accordingly. It provides accurate recommendations based on the areas of interest of the users. By combining algorithms, users’ feedback, and according to their search criteria Hulu delivers refined results.
The app supports a wider array of services ranging from commercial-less live streaming or ad-based content. Users are free to change their plans as per their interests or what on TV. For example, some users acquire live sports plans during an event called March Madness. Hulu offers great flexibility in creating a plan as per the user’s need.
Hulu offers unique features named “Hulu Watch Party.” This Co-viewing feature allows family and friends to watch series, movies, or their common choice of media from different locations. This feature is staying in tune with the current trends, and somewhere it is also connecting people on digital platforms.
Tubi TV is giving tough competition to HBO Go and Netflix. Tubi TV understands the fact that users are more likely to watch what is entirely different and new. The app’s home screen grabs users’ attention as they look at such a thing that they can’t find elsewhere. It is one of the most well-designed and easy-to-navigate apps. It offers a clean home screen with a myriad of categories. Tubi TV continuously works on enhanced user experiences.
Tubi TV avoids excessive scrolling and offers flexible menu options. Users can directly choose their preferred category and can see a wider range of options of shows and series relevant to the chosen category.
Utilize the wide variety of streaming options
Tubi Tv offers a consistent user experience on different devices like laptops, tablets, and mobile phones. It ensures no drop-off in streaming quality and user interface while accessing on different devices.
How To Determine The Cost Of Building A Feature-Packed Video Streaming Application?
Multiple factors come under consideration while determining the cost of a video streaming service app. But some aspects determine the mobile app development cost and are also required to build an app that covers all the technical aspects. Also, the price depends upon the business model and specifications.
Let me brief you about the key components that influence the overall app development cost:
It’s simple, the more features you will add, the cost will be high. If you have budget constraints, then choosing the indispensable elements will be the right approach. Later you can customize your app as per your target audience’s needs.
No users want to pay attention to complex apps. Ensure that your app is filled with engaging visuals and offers excellent UI/UX. Keep your app design simple and tempting that can potentially grab users’ attention. The design not only makes a significant impact on users, but it will also affect your pocket.
There are three popular options available for you while choosing the app development platform.
iSO applications will connect you with technology-friendly customers. If you want to target iPhone users, then iOS app development will be the right option. Also, for strong security features, go with the iOS platform.
Android apps have a wide array of customer bases, but you need to raise your budget when it comes to Android app development. Android apps have to go through many Android devices for testing purposes to remove the app issues.
If you want to target a wide variety of users, then invest in Hybrid app development. You can offer the combined features and functionalities of both iOS and Android via a single application.
Based on your business needs, you can choose a suitable platform. All the platforms will vary in terms of cost and app development process.
App Development Team
The cost of the development team you will hire will be determined by the geographical area. Countries like Europe, United States will be the most costly as compared to India. But, it also depends upon your budget; if it’s pocket-friendly, then you can outsource your mobile app development project anywhere across the globe. The app development team is formed by multiple tech professionals that includes
- Project manager
- Programmer / app developers
- Quality analyst
- App designer
If you look in the entertainment industry, the last few years have redefined the true meaning of entertainment. All because of unstoppable technological advancement. Undeniably, technology took the entertainment sector to the next level. There is no way left for people to get bored. Something interesting is available day and night that users can access in their spare time or whenever they want. The current era is dabbed with digitization, and the entertainment industry is no exception.
From listening to music, the art of movie-making, playing video games in high dimension visuals to watching favorite tv shows, and much more, the entertainment industry meets the needs of individuals of all ages. Every individual can watch their preferred content stories, movies, etc.
Are you looking for reliable entertainment app development services? Contact Sparx IT Solutions as they are a team of highly skilled and certified mobile app developers. They have proven expertise in developing robust mobile applications that introduce the new way of online streaming services across the globe.
The relation between the entertainment business and emerging technologies is far from being exhausted. Stay tuned!