Today, media and entertainment enterprises are navigating some of the most significant shifts ever witnessed in technology, culture, and business models–from adoption to preference, from fragmented audiences to convergent industries, from emerging economies to game-changing new players.
Embracing technology and business forces that create this shift will help tomorrow’s enterprises lead the ‘digital evolution’ and stay healthy–creatively and financially.
According to eJAmerica, here are a few emerging trends in the Media and Entertainment industry:
- OTT (Over-the-top) streaming platforms – The popularity of platforms like Netflix, Hulu, Amazon Prime Video, and Disney+ has led to a shift in how people consume media content.
- Virtual and Augmented Reality – The advancement of VR and AR technologies has opened up new possibilities for immersive storytelling and entertainment experiences.
- Artificial Intelligence (AI) and Machine Learning – AI is being used to improve the production process and personalize the viewing experience for consumers.
- Interactive and Gamified Content – Interactive and gamified content is becoming increasingly popular, with companies experimenting with new ways to engage audiences.
- Social Media Influencers – Social media influencers are becoming increasingly important in the industry, serving as gatekeepers and tastemakers for younger audiences.
- Multi-Platform Distribution – The rise of multi-platform distribution allows content creators to reach audiences across multiple devices and channels, increasing visibility and engagement.
- E-Sports – The rise of competitive gaming is creating new opportunities for content creation and distribution, as well as advertising and sponsorship.
- Personalized Content – The use of data and analytics to create personalized content experiences is becoming increasingly important, as consumers demand more relevant and engaging content.
Challenges and opportunities
Protecting Intellectual Property Rights (IPR): Today’s digital media ecosystems have created roadblocks in Intellectual Property Management (IPM) and royalties: calculations and payments are more complex than ever. The result? A bottom-line disadvantage–which can be turned around with technology solutions that help safeguard, manage, and monetize assets.
Rise in consumption of digital media: From the XY generation that wants to watch TV shows online to the mature banker who likes his investment updates on his smartphone–content needs to be delivered on platforms that match the consumer’s lifestyle. With increased pressure to deliver across multiple channels, enterprises with the right mix of relevant IT infrastructures and sustainable solutions–across the content supply chain–will ride the digital tide.
Consumer insight and understanding: With increased industry fragmentation and consumer maturity, today’s trends could be tomorrow’s mainstays. There’s a thin line between redundant and relevant–which calls for powerful analytics to predict the ‘where what and why’ of consumer needs. Analytics empowers enterprises with business-impacting information about the right demographics and consumer behavior patterns to plan their strategies for increased profitability and market share.
Here are a few IT services that eJAmerica can offer to a Media and Entertainment customer with the software used against each:
- Content Management Systems (CMS) – WordPress, Drupal, Joomla
- Video Editing and Post-Production – Adobe Premiere Pro, Final Cut Pro, Avid Media Composer
- Audio Editing and Post-Production – Pro Tools, Cubase, Logic Pro X
- Animation and Visual Effects – Autodesk Maya, 3DS Max, Blender
- Graphic Design – Adobe Creative Suite, CorelDRAW, Affinity Designer
- Mobile App Development – React Native, Xamarin, Ionic
- Online Advertising – Google AdWords, Facebook Ads, Bing Ads
- Digital Asset Management (DAM) – Widen Collective, Bynder, Adobe Experience Manager
- Social Media Management – Hootsuite, Sprout Social, Buffer
- Cloud Computing – Amazon Web Services (AWS), Microsoft Azure, Google Cloud Platform (GCP)
- Business Intelligence (BI) – Microsoft Power BI, Tableau, QlikView
- Customer Relationship Management (CRM) – Salesforce, Hubspot, Zoho CRM
- Data Analytics – Tableau, PowerBI, Google Analytics
- Predictive Analytics – RapidMiner, KNIME, IBM SPSS
- Marketing Automation – Marketo, Pardot, Hubspot
- Customer Experience Management (CEM) – Oracle, Adobe, Salesforce
- Virtual and Augmented Reality – Unity, Unreal Engine, Vuforia
- Online Payment Solutions – Stripe, PayPal, Square
- Customer Service Management – Zendesk, Freshdesk, Help Scout
- Business Process Automation (BPA) – UiPath, Blue Prism, Automation Anywhere
- Video Streaming – Wowza, Amazon Web Services (AWS), Microsoft Azure
- Audio Streaming – Spotify, Pandora, Apple Music
- IP Television – YouTube TV, Sling TV, Hulu TV
- Digital Signage – DisplaySign, Mood Media, AOPEN
- Gaming Engine Development – Unity, Unreal Engine, CryEngine
- Game Development – C++, Python, Java
- Cybersecurity – McAfee, Norton, Kaspersky
- IT Infrastructure – Dell EMC, HP, IBM
- IT Support – Microsoft, Apple, Google.