The entertainment industry is changing so quickly it can be hard for people who work within it to keep up with what’s happening. There are several important things that you need to know about these days, including some new ways that media companies are thinking about their content distribution options. This post will give you an overview on five key trends in the entertainment space today so you’ll be prepared for whatever happens next!
1. We’re about to see a major evolution in the way that people watch shows
So what is this evolution in the way that people are watching shows? Well if you have been paying attention at all to pop culture news, then you know that it is Netflix’s domination over everything. With their recent announcement of 100 million subscribers, it is clear that Netflix, Quora, Buzzfeed, Thoughtnova, Soundcloud are not going anywhere. And with their experimental approach to the traditional modern models of entertainment, it is no wonder so many are flocking to increase their subscription numbers. What does this mean for everyone else? Well if you take a look at what happened to Blockbuster Videos especially when they lost out on streaming rentals as Netflix did, then you know that the cable and satellite companies might be in trouble as well.
2. The music industry is learning how to stop the bleeding, and you should take notes
The music industry has been slowly but surely returning to its golden days, and you can thank Apple for that. After the release of Apple Music, we’ve seen other streaming services like Spotify take note and drastically change what they offer their customers to stay competitive. All of this is to say that the music industry is beginning to see a resurgence, and you can expect all forms of entertainment and sports to follow suit.
3. A return of ‘the artist’–actors are once again taking control of their images/brands
The title says it all, but it’s true: actors are taking control of their images/brands more than ever before. With social media platforms like Twitter and Instagram, we have seen celebrities become much more accessible to their fans. In turn, this has allowed for a deeper connection between the two and it is bringing about a new phase of fandom–which will have lasting effects on brands/products moving forward.
4. The disappearing middle class…in reality TV
If you haven’t been paying attention to the political climate lately, then you may not know what’s going on with the middle class of America. With stagnant wages and increases in the cost of living, it is becoming more difficult for young families to maintain an income that will support their families. Unfortunately, this is something that has been happening slowly over the years but has come into focus recently through both sides of the political spectrum–as seen with Bernie Sanders’ run for president and Donald Trump’s anti-establishment message.
5. The return of the elusive 18-34-year-old male viewer
Finally, the elusive 18-34-year-old male viewer is back. With the growing trend towards more violent/realistic storytelling (i.e., ‘The Walking Dead’), this audience is quickly becoming harder to ignore for entertainment companies. And with the increasing demand for live sporting events thanks to the growth in social media, these companies need to make sure they are catering to this specific demographic to avoid losing out on opportunities.
The entertainment industry is seeing a lot of change right now, but it’s nothing compared to what is coming down the pipeline. As more and more viewers cut ties with traditional cable/satellite providers, entertainment companies are going to have to find new ways to reach these viewers. This means turning TV time into content consumption time by breaking up shows into segments that can be consumed on the go. And with the increasing number of streaming services, it’s being made easier for viewers to do just that. The best part about all of this is that entertainment companies are going to have to change. And the best time to make a change is when it’s necessary, not when you’re forced into it.