Three Technology Trends Reinventing The World Of Media And Entertainment

CIOReviewIndia Team | Tuesday, 28 January 2020, 13:20 IST

Three Technology Trends Reinventing The World Of Media And EntertainmentThe media and entertainment industry market across the globe is growing rapidly due to rising consumer demands coupled with proliferation of internet and digital technologies. According to a report by Market Reports World, the global media and entertainment is projected to surpass USD 6,709.4 billion by the end of 2030, growing at a CAGR of 10.40 percent. Latest advancements in terms of technology have transformed the content delivery and distribution models in the industry, as per the report.  As technology is transforming the face of the industry, let us have a look at some of the key technology trends that are expected to shape the future of media and entertainment world:         

Artificial Intelligence- For Personalized Content Delivery

Artificial Intelligence is largely being used to create personalized content and provide the end-user with recommendations based on this personal interests and web activates. This not only helps content creators design customer-centric delivery models but also enables consumers to have better viewing experience. NLP, one of the verticals of AI is being used to automatically generate subtitles by analysing the lip movement of actors on the screen, thereby minimizing the errors in the subtitles.  AI is also used by the media houses and other businesses in the industry to streamline the monotonous tasks in order to achieve more productivity.              

AR and VR- Creating Completely New and Immersive Medium   

Though AR and VR are not very new concepts in the entertainment industry, their adoption is relatively lower. But, AR and VR are considered to be the future of the industry, helping businesses provide consumer with content in a dream come true fashion. These technologies provide content creators with completely new and immersive medium to reach out to the end customer.     

Blockchain- To Safeguard Intellectual Property     

Securing intellectual property is of paramount importance, particularly in the creative industries such as media and entertainment. Blockchain, being an immutable ledger technology, empowers business owners to safeguard their intellectual property with highly secure and resilient transactions of data through peer-to-peer environment. Subscription based business models that are predominant in the entertainment industry are expected to witness a boost due to blockchain powered micropayment pricing models.