The media and entertainment businesses have concentrated their growth on disruptive processes after the outbreak of the COVID-19 pandemic, as its permanence in the industry has depended on the best adaptability to continuous change and the creation of new business models.
Furthermore, digitalization and accelerated technological progress have allowed this industry to innovate its business mechanisms to cover the needs of the consumer society, creating a tough competition in the industry, where the differential factor plays a key role in positioning brands as market leaders.
So we have summarized the most important trends in media and entertainment with its main players, who have been pioneers of innovation and disruption in the industry.
Artificial Intelligence
Artificial Intelligence (AI) has been one of the pillars of the new generation of content services to attract consumers due to many fundamental functions such as voice recognition, media automation, and recommendation through algorithms.
That’s why successful streaming entertainment platforms, such as Netflix, have reshaped the industry with the inception of an AI that collects personal data from its consumers with an algorithm, enabling predictions such as favorite movies or images that are most likely to appeal to consumers.
The development of a personal recommendation AI has also seen in other platforms, such as Instagram or Twitter. However, streaming companies are taking things to another level, diversifying IA to other uses such as film production, subtitle generation, and optimization of content search systems.
In this way, the disruption of these companies with AI is making streaming a unique service that consumers are increasingly accessing for its benefits of a personalized and advanced system. This has led content producers to carry out their projects to be exposed on these platforms, generating the new dominant method of providing entertainment.
NFTs
NFTs have become the mainstream of the media and entertainment industry as a cryptographic token that was successful in the sale of digital artwork in 2021. Its ability to establish better relationships between entertainment players and their fans with new ways to interact, raise money, and create new distribution windows, enables it to establish an important concept to sell movies and shows, as well as to attract a mass consumption that is captive to streaming platforms.
That’s why several entertainment companies have invested in NFT projects, such as Fox Entertainment, which put up $100 million for a show called Krapopolis to create the first study content based on this blockchain.
Also, the arrival of NFTs will force giant digital music providers, such as Spotify or Apple Music, to disrupt their business model with artists to avoid their independence under the revenues of this cryptocurrency.
Social Media Marketing
Entertainment world and its actors – as well as artists – need branding to position themselves in the market and reach a larger percentage of the consumer society.
The industry of media has been offering this service, but not in the traditional way with physical billboards or TV commercials.
Instead, it has been operating with a model based on services such as social media promotion, social media growth (followers), and digital press due to the emergence of digital platforms that are considered the place where consumers visualize content in a massive and immediate way.
One of the pioneers of this service is Daxsen Corporation, which is a holding company that has been disruptive in the method of promotion with a varied package of services available to the client, which includes services such as Spotify promotion, social media verification, and organic follower growth.
Social media marketing is one of the trends that has been booming in recent years, largely due to the constant digital evolution, and has plans for innovation with the advent of Social Media 2.0.