The entertainment industry is constantly changing and finding its way to consumers by new technologies in a fast-paced race. A handful of TV channels have been overtaken by Netflix binges, Amazon Prime Video rentals, YouTube channels and even Pokémon Go. In fact, YouTube and Netflix are the third and fourth most watched “channel” in Britain. The diversity and mass of options available today does not look like stopping – and that is in part thanks to technological developments.
New and emerging technologies will foster even more innovation in near future. Here are some of the ways that we can expect an even bigger growth of the entertainment industry and why investing in the industry or emerging technologies right now, can be highly valuable.
5G to Expand Possibilities
There is a growing hype around 5G technology and the potential birth of smart cities. Rolling out such wireless connectivity can benefit an array of industries and the entertainment industry is one of them.
5G technology is predicted to give us 10-20 times faster download speeds than we do today. This is going to have a massive impact on our devices’ ability to stream videos and play games. However, smartphone developers, game developers and hosting platforms such as Royal Vegas Casino would have to also accommodate such advancements.
Blockchain as a Music Canon
Blockchain technology is no stranger to the music industry, tiptoeing away from Bitcoin to help music artists and everyone involved in creating a hit to receive the correct royalty fees. However, artists are taking the blockchain one step further to change the way you access their creations.
The status quo is for musicians to receive smaller amounts while big companies and platforms take the bigger slice of the pie. New streaming platforms are being crafted based on the blockchain, this removes any third party from taking fees from both the musicians and the consumer and creating a more equitable system.
One such platform already exists by the name of ENX Coin and made by RoccStar Youngblood. This platform also offers movies and music events and is based on the blockchain. We can expect more like this in 2020 and beyond.
A Continued Buzz of Augmented Reality
Augmented reality may be best known in the entertainment space for the success of Pokémon Go. The app, which began as an April Fool’s joke, has had over one million downloads and briefly overtook Twitter usage in the US.
When something this successful hits the shelves, we can expect more entertainment forms to follow the pattern. Other augmented reality games followed suit but have yet to amass the following of Pokémon Go. As the technology is refined, we may expect more games to enjoy the same success.
Aside from 5G, blockchains and augmented reality, there is an agglomeration of other possibilities that can enhance the entertainment industry in the not so distant future. Virtual reality may be the cornerstone moment for the industry, yet, this technology is unlikely to be perfected in the following year.
Disclaimer: This content does not necessarily represent the views of IWB.