Technological development has massively impacted the entertainment and media industry. Technology has completely changed the entertainment industry from what it looked like 10 years ago. The transformation from analog to digital, the modernization of equipment, internet and automation comes with new challenges and opportunities. Companies within this industry are constantly having to adapt to the latest technology in order to stay competitive and visible to their customers. Digital media, mobile, big data, AI, augmented & virtual reality are the driving forces of this transformation on the entertainment industry.
Customer experience is as important as the product and service itself. In today’s digital world, your audience can reach you through the web or mobile at any point in time. Complete and consistent visibility is vital in order to stay ahead of the highly competitive entertainment industry.
Mobile devices have left the desktop behind and their usage has significantly increased over the past few years. Smartphone penetration among users is increasing in both developed and developing countries. The growth and reach of 4G has made it possible to access high-quality content through mobile devices. Omnichannel user experience ensures consistency, visibility and a larger reach without compromising the loss of data between different platforms. Mobile search advertising in the US has increased from $14.7 bn in 2015 to $37.43 bn in 2020.
People are now paying for video services from ad-sponsored traditional media. Netflix and Amazon prime are providing content on the go while live streaming is becoming a popular trend. Traditional print media companies are building more profitable digital operations powered by comprehensive digital platforms using the latest technologies. Event organizers and online ticketing platforms are using web and mobile-based apps to better optimize their ticket distribution system.
Companies are now using bigger data to analyze their business. It helps them understand consumer behavior in the entertainment industry. AI has helped to assess, plan and target the content to the right audience to increase user engagement and attention. It also helps to provide tailor-made content choices to the end-user.
Augmented and virtual reality has recently gone mainstream with the fashion industry, gaming and theme parks using this technology. It provides a hyper-realistic and a more immerse experience to their consumers. Camera devices and the content generation software are also becoming smarter.
The media and entertainment sector covers a diverse range of companies from advertising, broadcasting, digital media, gaming, entertainment, music, theme parks and publishing companies. These companies within the sector have personalized needs according to their customer requirements and the market they’re operating in.
A strong online media platform & digital media apps are the requirements of a media publisher while a theme park requires a safety, compliance and incident management system.
How to use new technology to your advantage?
If you acknowledge technology as something that could boost or secure your position on the market, it’s just logical to try to use it to your advantage. But how to do it? First of all, think of technology and it’s trends as a solution to solve your customer’s needs. It shouldn’t just be something for your company to shine and gloat about – make it useful.
We have worked with some of the pioneers of the Media & Entertainment industry like IMG, NFW, Mogo Interactive and Hyde Park Winter wonderland among others. All the solutions we created together have one thing in common: they proposed value to customers.
Using technology and trends for buzz may be a short term tactic for gaining some attention, but in the long run it’s just wasted money.
At Rare Crew we specialize in providing an innovative blend of sophisticated technology, design and compelling experience. Our team can build tailor-made CRMs, CMS and ERP solutions. The real challenge is to successfully apply trends and bind them to your core business solutions. For example, let’s take services commonly requested by our clients:
- Content acquisition
- Rights management
- Employee management & engagement solutions
- Contract negotiations & sponsorship
- Automation processes
- Customer relationship cycle
- Integrated solution to collect and analyze data
- Real-time reporting and analysis
- Conversion of raw data into valuable decision making
With the right approach and design thinking you can use every trend mentioned above and connect it to the service. That’s the real creativity in apps development, because let’s be honest, you can develop it all: functional enterprise applications, eCommerce, mobile and web platforms, data analytics tools and productivity solutions. But without a USP, something that makes it really valuable for both sides, it’s just something in line with thousands of other generic solutions.
So, do you want to propose real value to your customers? We suggest you think about custom and tailor-made solutions that are designed specifically for your needs. Let’s talk about it.
Read on: How Custom Software Development Can Help Your Business