Increasing Market Demands in the Entertainment Industry
2017 and 2018 have seen massive advancements in the media and entertainment sector. Streaming is the core aspect of this industry, and it continuously gains new technological applications and developments day-by-day. A research by RRIA, in the middle of 2017, states that the music industry in the U.S. has reached 17 percent revenue growth compared to 2016. The actual credit goes to the streaming capabilities.
Video streaming can be considered as a highly imperative technology trend which drives the media and entertainment industry much faster. Today, video streaming has improved its realm of broadcasting from television to various smartphone applications. The reason is the preference of social media platforms or smartphone applications by the new generation customers.
This has resulted in an immense growth rate in most of the digital platforms, especially in digital marketing. Companies use online entertainment platforms to a large extent to increase their profits. Streaming has also provided and still provides various opportunities for many independent artists. Media platforms like Youtube, Facebook, and Whatsapp have now become an effective way of making monetary outcomes, for those who use them as a productive market than entertainment media.
The enhancements in the streaming platforms have created a data-driven world which has changed the face of the media and entertainment industry. This situation has resulted in an increasing amount of data and provides more enhancements in big data management.
As technology grows faster, the media and entertainment industry has evolved with new digital applications, such as Youtube channels and Facebook pages. The artists get more opportunities through these developments, and the consumers are using much data through electronic media platforms. Most of the entertainment platforms are now opting automation for their systems for better efficiency and productivity. Artificial Intelligence (AI) and machine learning are playing a vital role by applying automation in various media platforms, and this has increased the data utilization.
There was a time where people used to have only a single media platform like television as a means for entertainment. But today, the entire industry has resulted in massive growth with numerous entertainment channels such as mobile applications, online gaming platforms, and various social media platforms.