Changes & Trends in the Industry
Trends in the entertainment industry have changed dramatically.
When looking towards the future of current and future trends in the industry.
It is imperative that all sectors of the industry are taken into account.
Entertainment market research for the music and video industries equips companies to understand and profit from the evolving entertainment marketplace including the physical, digital and mobile realms. (https://www.npd.com/wps/portal/npd/us/industry-expertise/entertainment/)
The entertainment industry has evolved through the use of technology.
Conjointly, social media has taken the entertainment industry into greater possibly. Moreover, the entertainment industry has migrated online to gain shares on the international levels through the Internet and social network scenes. International exposer has never been so readily available until social media came to the forefront and broaden social networking. Social media influences decision making in the entertainment industry. There are many predictions about how all of these new trends will affect the industry as a whole. However, Traditional media enterprises must learn to adapt to new Internet computer technologies to maintain competitiveness. 20 years ago it would have never been predicted that entertainment; media and publishing could be interconnected by a global platform of such magnitude. According to Magna Global, Global advertising media revenues were projected to be $495.0 billion in 2012, growing further to $510.3 billion in 2013, much of this growth is occurring in online media and fastest growing markets and in developing nations such as China, India and Brazil.
Additionally, with digital markets expanding internationally magazines and newspaper publishers are forced to evolve as well. The online choices has caused traditional newspaper sales to be affected by online alternatives; an approximate 44.4 million paid daily circulation in the U.S as of 2011 down from nearly 60 million in 2000. The newspapers are finding it increasingly difficult to compete against Internet news and advising rivals. (https://www.npd.com/wps/portal/npd/us/industry-expertise/entertainment/)
In closing, it is further believed that all sectors will eventually establish their own social media channels and become less reliant on networks like Facebook and Twitter, gradually evolving into social platforms of their own.
References:
5 ways that technology will change the entertainment in 2013
December 31, 2013, Edward James Bass
Technology- driven trends in the Entertainment industry in 2013
January 02. 2013,
Plunkett Research, Ltd
Entertainment Market Research
NPD Group
No comments:
Post a Comment