What are the biggest trends in the media and entertainment industry in 2021? How has digital content consumption changed over the last year?
Over the last decade or two, the media and entertainment industry has experienced a transformation like never before. And over the last year, the Covid-19 pandemic has also driven an exponential surge in digital content consumption.
3 biggest media and entertainment trends for 2021
1. D2C Streaming
OTT platforms like Netflix, Amazon Prime, and Disney+ offer consumers a wide variety of content and cross-platform compatibility. Further, the Covid pandemic accelerated the growth of OTT platform subscriptions by over 60%.
And so, industry experts believe that D2C (Direct to Consumer) video streaming will continue to be one of the top trends in the media and entertainment industry in 2021.
2. Personalised content
Creating and promoting content geared towards a particular segment of people will help MEP businesses predict user behavior, providing deeper engagement.
For instance, everything Netflix does is data-driven and powered by smart AI algorithms. By continually brainstorming and testing ideas, they ensure that whatever is aired on their OTT platform matches what the user is interested in. The result — over 20 billion euros in annual revenue.
3. E-sports broadcasting
The Esports industry has experienced a recent surge in global popularity over the last few years. With the creation of powerful game consoles and high-speed wireless internet, online gaming has evolved into a billion-dollar industry in the media and entertainment space.
Today, large tech corporations like Facebook and Amazon are entering the Esports market to bring large-scale investment and innovation. And this trend is expected to exponentially grow over the next few years.
Source: https://thescalers.com/top-digital-trends-shaping-the-future-of-media-and-entertainment/
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