media

Media & Entertainment

About

The entertainment industry is starting to focus on user experience as a way to develop lasting relationships with users. The Over-the-top content market is expected to reach USD 151.2 Billion by 2027, growing at a CAGR of 14.5% from 2020. The OTT platforms' investments are going to see a major shift from technology to content and as per the latest data, Netflix is going to invest INR 3000 Cr to create more original Indian content. Due to Pandemic, the audience grows as more people stay home and keep binge-watching.

Purpose

There’s a remarkable shift in consumer behavior as they are looking for a wide diversity of content and due to these media companies creating an immersive and engaging experience for consumers. The E&M industry is particularly good at building lasting relationships with millennials and Gen-Z, shaping and raising their expectations. The engagement also keeps increasing because of easy internet access in India and other developing countries with 227 million active users in rural India which is more than 205 million users in Urban India. The past decade has been shaping the future with captivating technological advances. More interactivity has to be the next major goal because of the virtual reality and AI conversational deployment in the entertainment and media industry.

Solution

The focus is shifted to sustainable growth considering value offering to strategize customer acquisition and customer retention. One can notice how easy it is to binge shows on Netflix, Amazon Prime, Disney+Hotstar, and much more. The over the top platforms are available on a single device 'SMART TV's' because of massive disruptive technological forces to provide a bundled package with a seamless experience to millennials and Gen-Z.

Entertainment businesses also choose to interact with their customers via AI conversational and voice interfaces such as Alexa, Siri, and Google Assistant. This changes the way people consume content across media platforms because the Internet of things continuously gathers millions of data and has recommendation engines catered to the viewing options of each user. Within the next few years, traditional television screens will experience a massive change to pair with VR eye-wear and headsets which will be more connected and smart. This will create a more powerful immersive digital experience as providers will choose both content and quality of access.

Emerging Technologies

  • 5G & Wi-Fi 6
  • Virtual Reality
  • Ani-ad Blocking
  • Automated Journalism
  • Social Outreach Apps
  • Death of the Cookie
  • Data scrollytelling / visualization
  • Internet of Things
  • Wearable Journalism
  • Video Creation Technology
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