Technology is an engine that drives the media and entertainment business together. This covers cutting-edge special effects created for movies, streaming media content, VR gaming, and even newly released channels for broadcasting news, music, and even advertisements which can easily be accessed by investing in Spectrum Internet for uninterrupted streaming.
Entertainment venues such as musical performances and theater show even transitioned to digital media during the deadly pandemic in 2020. While we’re spending more time outdoors in 2022, innovation in this area will likely be driven by creators who want to keep their audience’s eyes more comprehensive.
Following are the prominent technological aspects that have affected how we consume media and digital entertainment at present.
The Metaverse
The number of virtually showcased events, performances, and shows has all increased in popularity after constraining ourselves at home for so long. This signaled the beginning of the Metaverse, which comprises connected digital spaces where we can interact, collaborate, and, of course, have fun! What’s to come might already be seen in Metaverse performances like the concerts by singers Bruno Mars and Ariana Grande that took place in the online video game Fortnite in 2021. The Metaverse will increasingly replace our homes as the place where we exchange entertainment experiences with friends. There are already “watch party” features on video streaming services like Netflix, Facebook, and Disney Plus that let you enjoy movies with groups of friends from anywhere in the world. The Metaverse will make entirely new forms of entertainment possible, such as exploring virtual environments. Earlier in January this year, Disney announced creating a Metaverse-themed park to experience traditional forms of entertainment like movies and music within online environments.
AI
The media sector will continue to undergo radical change due to artificial intelligence (AI). Recommendation, voice recognition, and media automation will be its three most crucial roles in this sector. Every provider has invested in recommendation technology since the advent of Netflix, and other video streaming services fundamentally changed how we discover and consume entertainment media to more effectively and precisely showcase content to audiences that will find it worthwhile. According to Netflix, recommendations account for 80% of the content it delivers. Throughout 2022, it will compete with all other streaming services to increase this percentage.
Similarly, media businesses will keep working to develop ever-more-useful and precise voice recognition algorithms. Audiences are increasingly preferring voice communication with services like Siri or Alexa, which will get better at understanding our needs through the use of natural language algorithms.
Artificial Intelligence is also utilized in content automation, for instance, to create appealing thumbnails and previews for movies and songs. As a result, when we watch a movie with both action and romance, we’re more likely to come across sequences with romantic components, especially on Netflix, if a service is aware that we are more inclined toward watching rom-com. Such films and movies can easily be watched if you sign up for Spectrum deals to enjoy a seamless and affordable internet experience.
NFTs
Non-fungible tokens, commonly known as NFTs, which are blockchain-based certificates used to track the ownership of digital assets and make it possible to create “unique” digital content, are debatable but unquestionably revolutionary. And the media and entertainment sector is undoubtedly not exempted from these potentially seismic effects. While they have primarily been used to facilitate the sale of digital artwork, their use will expand to include anything from IP management to the sale of material based on shows. Krapopolis, the next show from Rick and Morty creator Dan Harmon, will reportedly be curated on blockchain and have its own market for trading NFTs based on the series. By allowing them to issue exclusive collections that can be acquired when fans connect digitally with their idols, much to how autographs are used to record in-person meetings, NFTs also have the potential to change how artists and stars develop relationships with their followers through technological mediums.
The Creator Community
Finally, the more individualized, specialized, and community-driven media that is the creator community raising economy will continue to gain ground on traditional, mainstream, and mass-market forms of media and entertainment. By portraying its stars and celebrities as “influencers” and incorporating more user-generated content into its production, mainstream media outlets will try to imitate the strategies used by streaming content platforms like YouTube and TikTok. Short videos and creator-driven mediums will become more popular, especially those that enable viewers to interact personally with their favorite artists and influencers. From just a billion in 2020 to a whopping $2 billion in 2021, the amount of money paid to creators through the Patreon platform quadrupled, and this trend is probably going to continue throughout this year too. This shows how viewers are becoming more at ease with the idea of avoiding networks and platforms to interact directly with their preferred content.
Takeaway
Prominent technological mediums have drastically affected the viewership and consumption of online content, changing how we pursue media and digital entertainment. With the constant evolvement, there sure is a lot more to unravel in the future.
