Top 10 Emerging Technology Trends for Entertainment Industry

As time went on, we have witnessed an unbelievable change in the Entertainment industry.Earlier, people used to spend their quality time with their friends and family sitting around the campfire. Today,with rapid advancement in technology, the television had become a main base of entertainment. No sooner had it got trended, Smartphones caught an astonishingpace in the market.

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Thus it has completely changed theworld of entertainment and the people’s way of living.

Technology has beenthe main driving factor for the Entertainment industry and it is modernizing every now and then.Here in this blog, we will have a glimpse of the technology trends for the Entertainment industry.

Reduced studio overhead

“While artists and studios are hoping and planning for things to return to normal in a more traditional production environment in the studio, that likely won't be the case. Here are some of the ways we think the transformation will be a change for the better as we move into 2021 and beyond:

Reduced studio overhead

With 'work from anywhere' becoming a forced reality, studios are realizing that they don't need as much commercial space for their studio, and that they can reduce overhead by reducing the size of physical space they occupy without it impacting their ability to produce compelling content

Accelerated innovation

Technology providers, like Lenovo, have brought to market new technologies, and refinished existing ones, to facilitate secure, reliable and robust ways for artists and studios to develop and deliver content with a geographically dispersed workforce

Talent acquisition and retention

There are a finite number of artists and there is always a high demand for them. In the past, studios would have to locate talent and then relocate them to where their studio is based. Now, instead of moving artists to the studio, studios are bringing the office to the artist, and saving a tremendous amount of cost typically associated with talent relocation.”

- Rob Hoffmann, Senior Worldwide Industry Manager Media & Entertainment at Lenovo
 

Green screen

“I can see 2021 being the year of the green screen. With a lot of people still unable to film, but films needing to be made, a lot of people will resort to the green screen, which is in dire need of new technology. For the bigger movies you can get them to be removed, but more technology should be created for those with lower budgets who want to use them in their smaller movies.”

- Lucas Robinson, CMO of Crediful
 

Use of online interactivity for their content

“One of the big trends for the entertainment industry next year will be the use of online interactivity for their content. We have seen more live streaming during the pandemic and I do not expect this to slow down. With people working from home, they are able to watch content during the day, which is something that we did not see before. I would be surprised if the live streamers who have found fame over the pandemic choose to move to something else as right now that industry is absolutely booming.”

- Ethan Taub, CEO of Goalry, Inc
 

Enough with The Streaming Services Already

“2021 is going to be the year of fewer services and more content. People are feeling frustrated with all the streaming services they have to subscribe to for the content they want and they’re going to start expressing their displeasure by closing their wallets. This is going to force media companies to start consolidating their offerings or risk losing business and income. Movie studies will also need to find a way to make up for the lost income from theaters by creating content that is more geared to the at-home audience.”

- Todd Ramlin Manager of Cable Compare
 

Host entertainment events in the virtual reality space

“As the Covid-19 pandemic persists, traditional in-person events are on hold. BUT who needs traditional? Event Farm, the leading innovative experiential marketing company, expertly integrates Virtual Reality technology into live events– So you can party from the safety of home!

At the start of the pandemic, Ryan anticipated the rise of “Zoom Fatigue” and the need for an innovative solution for companies and consumers to engage in real human interaction. As a solution, he launched The Echo an avatar based virtual entertainment event venue for live performances, conferences and more. The technology allows users to attend events in the virtual world while speaking to other users with computer audio. You can walk up to another avatar and have a conversation with that person.

Major companies including Facebook, Intel, Dell, LG and Bosch are all using this technology to host entertainment events in the virtual reality space.”

- Ryan from Event Farm
 

Nvoko to protect collaborations and royalties

“Nvokois an exclusive platform for independent artists, recording artists, songwriters, and producers to protect their collaborations and royalties. In an age where more musicians are independent (especially since the events of 2020 and their impact on the music industry) the risk of business deals having unintended ramifications is high and artists of all sizes end up losing royalties or facing copyright infringement lawsuits for their collaborations. Nvoko is tackling these risks head-on by providing an easy to use, secure space for managing contracts, legalities, and fees – and a place where artists can connect, collaborate, and safeguard their creative rights.

There are already other companies trying to follow suit and mimic Nvoko's platform - guaranteeing that this type of music technology will be a huge game-changer and trend in 2021.”

- Dawn Jones from Pressed PR
 

Artificial intelligence

AI would empower the Entertainment industry in so many ways,for example, creating personalized content (or scenario)according to the customer’s vision. Artificial Intelligence would play a magnificent role in creating movie trailers that are beyond the imagination.Besides, it would provide great assistancein shooting complex,and breath-takingscenes making it much simple.

Many Entertainment platforms such as Netflix have already adopted AI that provides fabulous video recommendations and a better user experience.Talking about the sports field, it would help them to improve player performance andgaming experience flawlessly. Moreover, it can also assistumpires in determining if the player is exactly out or not.

Blockchain in the Entertainment industry

The Entertainment industryis mostly a relationship-based businessand hence it creates a greatchance for the mediators to make frauds. Blockchain would be very helpful for the Entertainment industry in reducing fraud cases and displaying accuracy. One of the major concerns of the Entertainment industry is content copyrights and ownership issues. In addition to the payment concerns, it often becomes difficult to track the exact owner of the content (audio, video, written, etc.) in the industry and creates uncertain disputes.Blockchain would eliminate all these concerns by tracking exact information of payment and content. It would also help you to track the IP and its transactions.

5G internet connectivity

Upon the major aspects of the Entertainment industry, 5G would be a booming factor because of its high speed.5G would help you to connect with your loved ones through high definitionvideo calls. 5G redefines the gaming experience. It allows you to load and play top-end games of huge size in just a matter of seconds. Talking more about entertainment, it would enable you to download or stream ultra HD videos with massive size in 3-5 seconds.With this high-speed internet connectivity, you can access limitless TV channels anytime, anywhere without buffering. It eventually eliminates the need for separate dish cable connections or Dth services at home.

Drones

With the emergence of Drone technology, impressive photography and aerial filming has become possible.Drones help you to capture breath-taking scenes from different angles. Nature and Wildlife photographers need not risk their lives by moving on dangerous treks or climb on the mountains for photography as drones can help them with that. Normal drones can easily fly up to 3 miles and operate the required activities. These have become an indispensable unit in the Entertainment industry and benefits with great cost savings.Drones enable you to acquire the details of inaccessible locations and make detailed documentation.

Conclusion

Technology has always been a major factor for any sector. Especially, when it comes to the Entertainment industry, it just plays an incredible role in the case of entertainment. Looking at some of the platforms of the Entertainment industry like movies, shooting films, music, etc., technology has completely transformed their shape. In this blog, we have discussed the technology trends of the Entertainment industry. It will help you to understand how these trends would impact the future of this industry.