Media Industry: Top New Technologies to Watch Out for
Even though things may have seemed largely standard with the media and entertainment sector in the last few years, the truth is that this particular sector has been changing and growing at a mind-boggling pace. Expected to be valued at $652.5 billion by 2027, clearly the media and entertainment sector has much going on.
Digital technology today is paced by the evolution of the internet, especially in the past two decades. It has brought to life what we now know as new media. And, it has transformed the way we create, distribute and consume information while embracing this greatly.
And, in 2020, after COVID -19 was declared a global pandemic, the whole concept of digital transformation got the much-required pace to a whole new level never witnessed before in modern history. The sectors such as healthcare, supply chain operations, and distributions have been disrupted in response to the sudden change in lifestyle and well-being demands.
This indicates the need for companies to evolve and keep up with the sector to ensure their success. So how does one go about doing that? An important way to do that is by monitoring the latest trends and technologies in the market. So, here is a list of what you should keep an eye out for:
1. 5G: It is not news that 5G data networks are now ready to revolutionize the speed at which one can access the internet on mobile devices, smartphones, etc. To no one’s surprise, 5G has also found applications in the world of media and entertainment: from being used to deliver high-quality mixed reality experiences to striving for uninterrupted, flawless streaming experiences for users of different OTT services, etc.
2. AI: Artificial intelligence has long been a part of the mainstream world and it ought to come as no surprise that this nifty technology has made inroads into the world of media and entertainment where it is being put to use in increasingly innovative ways. From out-of-home advertising to hyper-realistic visual effects, AI is quickly becoming an integral part of this sector, helping companies improve the efficacy of their marketing programs, personalize user experiences, and so much more.
3. Cloud security: Cyber attacks are not a new concept and have taken quite a toll on the media and entertainment sector as well. This has led to a renewed focus on various strategies for cloud security management that will allow companies in this sector to safeguard their mobile apps, websites, etc. against illegal attempts to access sensitive information, piracy, and online content among other things. This has, consequently, put the spotlight on data encryption, cloud workload, authentication, encryption, etc.
4. Virtual reality: Yet another compelling solution to emerge in this industry is virtual reality which offers the opportunity to be leveraged in countless ways. Take news, for example: with virtual reality, companies can enhance their audience’s experiences and engagement levels, allowing them to better connect with stories by putting users smack in the middle of news stories, etc.
The media and entertainment industry has been subject to massive upheavals in the recent past, especially since the rise of OTT platforms and the coronavirus pandemic. Anyway, these changes are not the only factors that have had an impact on this industry: the rapid evolution of technology to has had a bearing on the fate and the future of this sector. To cut a long story short, companies operating in this sector are on the lookout for newer and better means to navigate the many, many complexities posed by the modern-day media and entertainment sector and as you now know, one of the best ways to do that is to keep an eye out for the latest trends and quickly leverage newer technologies and media industry solutions to the business’ benefit. And if you find yourself needing some assistance, there are always countless quality service providers in the market to help you out.