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The Global Media & Entertainment Industry is said to be one of the largest markets in the world in terms of its size and revenues generated. It mainly comprises five sub categories: Television, Films, Video games, Publishing & Music.
The market trends and drivers for each of these segments and sub segments vary greatly in terms of region, location, language and consumers among other factors. What makes this industry unique is that although these segments function individually in the market, they compete, combine and compliment each other in the global spectrum in order to provide for the increasing and fast-changing demand for information & entertainment needs among its varied consumer base.
The industry also relies upon certain external factors for its smooth functioning like development in technology vis-a-vis the rising Internet penetration across the globe and the evolving digitization in almost every segment backed with the evolution and reach of social media and the changing consumer analytics in the recent past.
The Media & Entertainment Industry have had to figure out ways to adapt to these new technological deployments while still attracting consumers and staying relevant in the current scenario as media and the ways in which we engage with it is constantly evolving, the media and entertainment industry is going through a major transformation while finding a way for coexistence of traditional and modern practices.
Virtual reality (VR), over-the-top (OTT) video (including streaming services like Netflix and Amazon Video) and Internet advertising is expected to witness the most annual growth in the upcoming years. Thus it is safe to say that, Digital is the way forward into this industry as demand for personalized content and enhanced user experiences is on the rise.
Media & Entertainment Industry Market Shift from Ad-revenue to Consumer revenue: Traditionally, paid advertising has always been a primary source of income for the media industry be it in the form of full page ads on magazines, Sponsored ads on Newspaper columns, television ads or radio commercials. But recently, there has been a shift in this phenomenon with the rise of subscription based revenue generated by online platforms, the media and entertainment industry is also making a transition from ad-revenues to consumer-revenue models.
This subscription economy is still relatively new but looks very promising. There has been a recent surge in this trend as consumers’ taste and preference pattern changes. Companies are still experimenting their way out in this relatively new model in an attempt to acquire, engage, convert and retain their consumer base.
This shift is not limited to Netflix or a Spotify subscription alone, it can be witnessed industry-wide including written media. Digital advertising by means of social media tools has also seen an upward curve in terms of audience engagement and revenue generation.
Media & Entertainment Industry Market Elevation of the user experience: Consumers are swiftly moving from one-size-fits-all to custom made user experiences. Technology, data and personalization are tactics that are becoming essential tools in order to analyse customer behaviour and preferences so that the media houses can deliver them just that.
Although the drift to digitization is still at its early stage, it is driven by increased customer expectation and an obsession to deliver the most ideal user experience. For example, HBO, home of shows like Game of Thrones offers online media streaming to its paying subscribers. They have multiple packs targeting different audience groups, user’s preferences, pain points and behavioural patterns.
Personalisation tools are becoming increasingly popular in order to develop key market insights, customise product offerings and stay ahead of their immediate competitors. AI technologies for analysing and producing highly personalized products and services is also on the rise.
Media & Entertainment industry is slowly and steadily adapting to these technologies and customer behaviour in order to stay relevant in the market. Even a simple “recommended for you” feature added by Netflix based on customer ratings is going a long way in the current market scenario.
Media & Entertainment Industry Market Streaming Media Sector is Gaining Traction Due to Emergence of OTT Media Across Online Platform: In the recent past, several live streaming virtual multichannel video programming distributors (MVPDs) had launched multiple offerings with a combination of live networks and on-demand contents.
With consumers across all age groups streaming more content than ever before, there is an ongoing dynamic shift from traditional pay TV, to subscription-based paid streaming video services along with the growth in the number of smartphone & tablet devices.
The rising popularity of high-quality videos in terms of their clarity is expected to boost the demand for better streaming media services. Furthermore, the focus of the OTT service providers such as Netflix and Amazon towards providing 3D movies along with the increasing popularity of 4K UHD content will be primary growth for the global media and entertainment contents thereby influencing the market’s growth positively.
Television has been transformed after digitization, not only the way content was produced changed, but also the devices have transformed drastically, internet television is gaining popularity in the developed economies. The emergence of social media is also vastly contributing to this growth phenomenon.
Media & Entertainment Industry Market Increased preference for mobile devices: Increased smartphone penetration along with low data tariff as well as investment in localised and regional content in the Media & Entertainment industry are further proving to be favourable for market growth. Rise in content access and content supply as its counterpart is driving the online consumption across the media & Entertainment industry.
To know more about US Media & Entertainment Industry, read our report
High-speed broadband internet service Xfinity Internet, provided by Comcast Corporation, has completely changed how millions of people access and interact with the online world. Xfinity Internet has established itself as a major player in the telecommunications sector thanks to its dedication to providing customers with dependable, quick, and secure internet connectivity.
Its cutting-edge technological infrastructure is the key to Xfinity Internet’s success. Xfinity Internet can carry data at exceptionally fast rates because to its hybrid fiber-coaxial (HFC) network, giving its users a flawless browsing, streaming, gaming, and downloading experience.
The HFC network combines coaxial cables for last-mile connectivity to households and businesses with fiber-optic lines for long-distance data transmission. This technology enables Xfinity Internet to offer lightning-fast internet speeds, making it a great option for both occasional and heavy data users.
Its vast selection of internet plans that are suited to diverse demands is one of the distinguishing features of Xfinity Internet. Customers can choose from a variety of Xfinity Internet plans, depending on their needs, from basic internet access for email and light browsing to ultra-fast speeds for 4K streaming and online gaming.
Customers can select the speed tier that ideally suits their internet usage and household size thanks to the range of speed tiers available. Furthermore, the adoption of cutting-edge technology like DOCSIS 3.1 is a result of Xfinity Internet’s dedication to innovation and ongoing improvement.
With the use of this technology, existing cable infrastructure can carry far more data than before, enabling Xfinity Internet to provide gigabit internet speeds to many of its users.
By constantly setting the pace, Xfinity Internet regularly offers subscribers faster connectivity to satisfy their expanding digital needs. In addition to its amazing speeds, Xfinity Internet places a high priority on providing its users with a secure online experience.
A firewall to prevent unauthorized access, malware and virus protection, ongoing network monitoring for potential threats, and other strong security measures are all included in the service.
The xFi Gateway, a modem and router combo with additional security features and parental controls, is another option provided by Xfinity Internet for controlling family internet usage.
Xfinity Internet also gives users access to a vast network of Xfinity WiFi hotspots because it understands the value of wireless connectivity in today’s society. Customers of Xfinity Internet may stay connected while traveling without using their mobile data thanks to these hotspots, which are thoughtfully positioned throughout diverse public spaces.
The simplicity and importance of this functionality to the whole internet service are enormous. Xfinity Internet is well-known for its commitment to client satisfaction when it comes to customer service.
The business provides technical support and customer care around-the-clock to ensure that any problems or worries consumers may have are quickly resolved. To further empower users and assist them in getting the most out of their internet service, Xfinity Internet offers a multitude of online resources, such as manuals, tutorials, and troubleshooting tools. The cutting-edge Xfinity xFi platform exemplifies how customer-focused Xfinity Internet is.
Customers have total control over their home network thanks to our clear and user-friendly mobile app and web interface. Xfinity xFi gives users the ability to quickly tailor their internet experience by allowing them to manage connected devices, create guest networks, and even pause Wi-Fi access for specific devices.
The Media & Entertainment industry market landscape is based on survival of the fittest owing to the presence of some of the prominent players in the industry who are dominating the market, the competition is relatively high and in this segment.
The industry is constantly innovating and bringing in new applications to the market. However, digital media is disrupting the industry as players in the traditional medium are losing the market with the rise in internet ad revenues and streaming platforms, many new players have entered the market to expand their business models by engaging more audiences.
Many industries are following strategic partnerships and mergers in order to stay relevant in the market as the world moves towards a digital-only environment. Some of the prominent players in the industry include, Walt Disney Corporation, Warner Media Group, Comcast, News Corporation, Google among others.
