If you are in the music, television or motion picture industry, you know the way individuals are consuming your content is shifting. You are amid exciting and turbulent times.
Below are the five major entertainment trends, as highlighted by Medium and what the majority of businesses can do to prepare for them.
Streaming is King
As you may know, streaming is now the primary revenue driver in the entertainment industry. No more CDs, DVDs or downloads. And it will continue to explode. According to Research and Markets, by 2021 streaming will account for over $70 billion of revenue for this niche.
Company Translation: If you are training employees and suppliers with older methods, now is the time to embrace streaming. Use this methodology for delivering and reinforcing sales and HR initiatives. You may need to enhance your Wi-Fi system or use hotspot rentals if your current configuration isn’t robust enough.
Over The Top Content (OTT) is Number One in Growth
This is audio, video, and other media content delivered over the Internet without the involvement of a Multiple-System Operator in the control or distribution of the content.
Below are six OTT video streaming examples.
- Amazon Video and
- Apple TV
Company Translation: Look at these solutions to enhance your digital presence. Be sure to create and upload all company videos on your YouTube channel. If you hold a movie event at your organization, try out one of the platforms listed above.
Major Record Labels Have Diminished Powers
A growing number of artists are moving away from record deals toward music streaming platforms where they can keep all or most of their royalties. Organizations like Ditto and FUGA fulfill this need and you can expect more companies to enter this space.
Company Translation: Spotify, Apple Music, Amazon Music and Pandora will experience competition as the platforms listed above delve into consumer fulfillment. Be on the lookout for new entrants.
Mobile Devices Will Trump TV Sets
Ericcson predicts that by 2020, only 10% of consumers will watch videos and TV programming on traditional screens and the majority will view it on mobile or computer technology.
Company Translation: If you are producing content, ensure it is renders properly to all devices. If your organization is consuming it, provide enough phone rentals or other mobile devices to allow employees to view it from any location in the office.
Let’s Not Forget IoT Devices
As personal assistants cross the threshold from home to business use, look for them to assist in bringing up streaming choices. Layer on AI, machine learning and predictive analytics and individuals will have personalized music, video and TV choices selected for them in a continuously crowded field.
Company Translation: Start implementing IoT devices within your organization but be aware of cybersecurity risks in doing so. Ensure the passwords are changed and your network is secure.
Hartford Technology Rental Can Help Your Organization
If you need a vendor to provide full service rentals who understands the importance of giving excellent customer service and value, give Hartford Technology Rental a try. You won’t be disappointed! Give us a call at 888-520-5667 to learn more!