4 Technology Challenges Faced by Entertainment Industry in 2020
The Entertainment industry is one of, if not the biggest money-spinning industry in the world today, catering to an audience of over a billion people. Faced by the challenge of a global pandemic in 2020, and massive progress in the technology sector, the media and entertainment industry is having to undergo innovations in how content is delivered to consumers.
As a student, you might be required to write essays on entertainment, highlighting the entertainment issues facing the industry in 2020. Since technology is ever-changing, and so are its impacts on the entertainment industry, it is important to use past entertainment essay examples to get an idea of how these impacts are changing. More so, with free entertainment essay samples, you will have an opportunity to look for an interesting entertainment essay that will guide you on the specific areas in the entertainment industry that are susceptible to technological changes.
In this article, we're going to examine some of the major technology problems in entertainment industry today, and how media companies can navigate these issues to stay ahead of the curve.
Live streaming is fast becoming the most popular method through which media houses deliver both new and old, high-quality content to consumers. And not only is this method more cost-effective, it is available on both smartphones and laptops, as well as the traditional TV, hence ensuring that users have access to their favourite movies and music on the go.
However, the advent of various streaming services means entertainment channels are at a higher risk of having their content recorded and illegally distributed, thereby leading to a corresponding loss in revenue. The ability to screenshot and take screen recordings, either on a smartphone or personal computer is one that several users exploit to capture content on their devices.
As a solution to this, companies such as Netflix have integrated software that prohibits screenshotting and screen recording on their platforms, but there is no way to prevent recording done from external devices or third-party apps.
Data privacy concerns
As technological advancements are being made, people are becoming increasingly security-conscious and wary of how their personal data is being used by entertainment companies to create content; This has led to people releasing fewer personal information online. Consequently, this had led to a dearth of information and user data available for media houses to curate personalised content, and analyse digital media consumption behaviours.
Lack of financial support for start-up and small-scale entertainment ventures
This is one issue that mostly mitigates against the growth of start-up companies. Coming up in an industry with a lot of heavyweights can be especially daunting, and the task is made considerably more difficult with the absence of capital to purchase technological equipment that is essential to compete on a bigger stage.
Movie-making equipment that was in vogue say ten years ago, are fast becoming obsolete, with recent attention switching towards Augmented Reality and Virtual Reality productions. These kinds of productions require heavy, high-end hardware, things that are well out of the financial reach of these small, upcoming enterprises.
Account-sharing on streaming platforms
The advent of account sharing makes it considerably more difficult for video streaming sites to make recommendations and tailor content preferences to suit customer's needs. Try to picture a scenario where three to four people, with varying tastes when it comes to movies genres, share a single Netflix account. A situation like this will muddle up customer demographics, thereby making it difficult for analysts to determine user preferences and dish out personalised recommendations.
As technology continues to grow and evolve, the entertainment industry has to find new ways to deliver content to consumers, and simultaneously deal with challenges of media that arise with these new innovations. However, despite all the problems in entertainment industry today, the fact remains that it's still one of the most lucrative businesses in the world, with consumers numbering in billions. And as change is one of the constant things in life, one can expect entertainment companies to find creative ways to deal with these technical challenges and serve us even better content.
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