What’s in store for the M&E landscape in coming years? As the web matures, users will remain in the driver's seat to drive the loyalty of this booming industry. The interest focused communities are driving innovation and creating values since the web first emerged in 1991. As the pace of technological change continues to grow, M&E industries are striving to find the right balance between consumer demands and ways of entertainment. Now, companies have gone the way of analog to something more interactive, personalized and experiential.
The tech-friendly M&E industry is now welcoming new ways and concepts in the trendy world to experiment and entertain the audience. The access to good devices, apps and software systems paired with high speed has pumped up the expectations. Here are 4 emerging trends that promise to live up to your expectations in years to come.
M&E sector grew 13% to reach INR 1.67 trillion (USD 23.9B) and expected to grow to INR2.34 trillion (USD 33.6B) by 2021.
By 2021, Cisco says that 82% of all internet traffic will stem from digital video
There will be 26.3 million VR headsets users by 2022, up from 100,000 in 2016
By 2021, there will be 650 million subscribers to OTT/Personalized entertainment
5G latency is expected to be 0.001 seconds, which is 15-60x faster than 4G
Artificial Intelligence
As it is doing in many industries, AI is making a splash. And one of the best examples of its influence is personalized recommendations based on the watching habits of the user. This eases the method of content making new content for the curious audience, making it a lot more engaging and interesting. AI is dedicated to making new age ads, motion pictures to outline the pre and post-production processes, hence creating all-important steps cohesive, efficient and faster.
Virtual and Increased Reality
Virtual and Artificial Reality is a new revolution in the M&E industry. This tech-aided reality is charming the world with its business encashment and all new experiences. While the use of AR and VR are relatively new, the features are already captivating the users, interacting with them and looking for different ways to entertain. One of the globally popular application, Pokemon GO operates in the same way. Our very own favourite, Disney has a similar vision to entertain people by rewarding them with tokens and real goods. Enticing!
Blockchain
While every other technology is trying to bring the revolution is user experience, Blockchain is a component which is skilling the globe. It has the potential to radically change the way industry works, especially M&E. One of this sector’s problem is that the creators are often robbed financially by the distributors, but this technology helps them to remove the middleman from M&E distribution.
The best and the first example of this blessed technology is ENX Coin which is a decentralized streaming platform where creators, producers and other media people takes part without any notorious resistance and provides transparency.
5G
This next-generation technology holds enormous promise, especially for the Media and Entertainment industry. The 5G story is much more than just about consumer access, high speed and quality content, it is now expected to usher major changes in networking, bringing powerful capabilities and providing the consumer with the best experience. Beyond this, it represents unparalleled opportunities for live events, largely sports. Live to the stream of a Cricket and Football match over 5G is something, sports lovers are looking up to. Olympics, IPLs and World Cups are scintillating prospects.
As it is continuing to drive the M&E landscape, the appetite for more will not fall. The challenge will get the right audience, at the right time, on the right device. Let's look forward to supporting the digital ecosystem that will enable us to grow, learn and entertain.