Pushed by new consumer behaviors and expectations, the media and broadcasting industry is embracing digitalization and an always-online world. Discover how digital entertainment is transforming everything.
Remember going to the movies for the first time? You might not recall the film, but I’m sure you haven’t forgotten the feeling.
It’s the same when you bought your first CD or left your VHS tapes behind as DVDs surged into popularity. Now that streaming’s the ‘big thing’ I often find myself staring at all my Blu-rays and wondering when I’ll ever use them.
Things have certainly changed in the past decade.
Change has been a constant in the media and broadcasting industry. From stage to screen, talkies to color, reels to downloads, and DVDs to streaming.
Virtually all the content we now consume is digital. Everything is about smart devices, the Internet of Things, streaming, codecs, and video on demand. FM and AM are being edged out by digital radio1. Content is now created by anyone.
Gamers can play in real-time with people around the world. And time spent with digital media is outpacing traditional media. An eMarketer report expects that by 2023, the average person in the US will spend 8 hours and 20 minutes per day accessing media via digital means, compared to 4 hours and 45 minutes watching TV, reading print materials, or listening to the radio2.
How people engage with content is evolving. Rather than have it pushed on them, they now want to decide when, how, and where they access their media.
Younger generations are driving this change. They want highly personalized, instant, and affordable gratification with ‘all-in-one’ convenience. Often on multiple devices.