Digital Transformation In Media and Entertainment Industries
Research shows that people watch clips and user-generated content on their cell-phones, and movies on their computers and TVs, sometimes simultaneously. Media companies are taking advantage of this situation by prompting viewers to share using branded content and hashtags to gain their content. Marketers, advertisers, and writers are no longer thinking solely about what would make a great scene. Now they are focusing on what it would look better on social media, cool GIFs, and how to engage their viewers while watching.
New technologies have entirely change the way we communicate, consume, and interact with each other. According to a Forbes article, they are six digital transformation trends in media and entertainment:Â
First, Multi-Channel Experiences Are The Norm of today: Consumers rarely sit through an entire TV show or movie without going on social media, sharing their ideas and opinions about what they're doing and watching. Therefore s such, marketing is no longer a one-time thing. It's an all-channel event. Â
Second, Artificial Intelligence is a new computer-human collaboration method: AI impacts the creative process in the media and entertainment. Through language processing, image recognition, speech recognition, and deep learning, Companies are using AI to create more compelling movie plots based on box office performance. One company recently used AI to make a horror movie trailer within 24 hoursâbased on trailers that the AI had already processed. Thirty days it would take to edit it manually. In Japan, an AI creative director analyzes client briefs before pitching.Â
Third, Content Is Becoming More Curated: Netflix and Amazon have been using curated content for many years, prompting and suggesting what shows we'd like to watch and what products we'd like to buy based on our past searches and history. These types of analytics target and creates instant audiences for new shows and products. In the past, producers needed to advertise to the general public. Now they can focus their time and money just on those more likely to enjoy what they make.
Four, Cord-Cutting Has Led To New Business Models: In the past, people need it to pay monthly subscriptions with hundreds of channels to get the two or three that they like through cable or satellite. New companies like Hulu, Netflix, Amazon, pay-per-view, and others had changed the traditional business model in which the film and entertainment contact used to be delivered. Users can now go online to find just the content they want, replacing traditional offerings with smaller bundles and specialty packages.
Five, Virtual And Mixed Reality Is Coming: Successes in virtual and mixed reality is starting to make its way into media and entertainment. Last summer, the Soccer Championships in Europe featured in 360 VR, immersing sports fans during live games, displaying the virtual reality's entertainment power. Also, the Pokemon Go craze come and go over the past 18 months. While this was just a little introduction to mixed reality capabilities, it indeed showed only how much interest people are in blended experiences on virtual and mixed reality,
Six, Advertising Is Getting Smarter: Due to computers and information systems' capabilities and software development, in-depth data-consumer analysis and strategies, machine learning, and the vast opportunities available with augmented virtual reality and Artificial Intelligence, marketers and advertisers are getting smarter than ever. Even more, using and analyzing consumer data, marketing agencies are switch out specific product placements to the ones you're most likely to buy.Â
The digital revolution in the digital media and entertainment industry is focusing mainly on marketing and money. Jet, they are also center on user experience and engagement, personalizing one's users and viewing experience and getting content to their audiences where and when they want it on whatever device they're using.
Additional Resources On This Topic:
AI, And Analytics, The Top 10 Digital Transformation Trends Of 2020
Sports Fans in the Digital Age - Ryerson Digital ...
Machine Learning Already Changing the Entertainment Industry.Â
Strategies For Media- and Entertainment Companies to Master Digital Transformation