The entertainment industry usually refers to the profit-driven business of creating and distributing performing arts, film, music, and other forms of art. While the advent of technology has changed how we perceive and consume content in this increasingly digital age, it is also gradually changing how we see this industry. Let’s take a look at some ways through which technology is re-defining this sector:
Promoting Innovative Content
Original works are one of the most widely appreciated forms of entertainment because these stories have come straight from an artist’s heart and mind. Unlike adapted concepts or derivative works created by taking inspiration from someone else’s idea, original narratives provide more value and engagement for audiences due to the authenticity factor. It ultimately leads to more avenues for creators to generate revenue. Moreover, by utilizing the characteristics of web-based entertainment platforms, original stories are being promoted with 1080p HD video cameras among wider audiences worldwide.
Developing Ways To Support Authors
Being an author is one of the most challenging professions that perhaps only a small percentage can pursue successfully. It is because generating creative content takes time and dedication, and having some specific skills in terms of storytelling abilities, presentation techniques, etc.
Platforms like Kickstarter help writers raise funds for new projects by receiving contributions from donors. They allow them to contribute different amounts as per their wishes. Other services like Patreon allow authors to receive monthly subscriptions from fans during the production phase to easily monetize new ideas without any need for upfront payment or other conditions.
Growing Native Advertising Revenue Streams
The Internet and social media have given rise to content marketing, promoting brands through digital content like blogs, videos, etc. It is a profitable means for companies because while generating awareness or traffic about their products/services, they can also promote themselves as native advertisers in the process. This form of advertising is expected to flourish with web-based entertainment platforms due to its popularity among millennial audiences brought up on interactive sites.
Adapting To Online Monetization Models
In the past decade or so, we have seen a massive boom in various web series that became a rage worldwide within a short period adopting innovative methods for getting attention from both fans and critics. Moreover, the web has empowered individuals to produce cost-effective productions that millions of people worldwide can watch through sharing on social media platforms like Facebook, Twitter, etc.
Providing Great Opportunities For Fans
Fans are perhaps one of the most important components of any entertainment industry. They have a crucial role in determining how well an artist is doing financially. This is because their fan base ultimately influences buying decisions to invest in new projects or buy tickets for live performances/other merchandise items for artists.
Enhancing Creativity And Experience
Digital technologies have made it possible for us to experience engaging content at our convenience without spending much time watching long videos on television or even waiting for releases of movies after their theatrical run. It has ultimately benefited creative professionals who can introduce new concepts anytime they feel inspired, without barriers in terms of time or space. Moreover, with the help of today’s widespread access to affordable technologies like 3D printers, it is now possible to design out-of-the-box products that can be sold to consumers anytime again at a low cost.
Continuing To Disrupt The Entertainment Space
With technology constantly evolving and reaching new levels every other day, there will always be a need for content that keeps us entertained. As seen over the past few decades through web-based entertainment platforms, the world is finally heading towards democratization of production. Everyone can access the same opportunities regardless of their age, social standing, or other limitations.
The Internet and social media have given rise to new content marketing, which refers to promoting brands through digital content like blogs, videos, etc. It is a profitable means for companies as they can promote themselves as native advertisers in the process and generate awareness or traffic about their products/services.
This form of advertising is expected to flourish with web-based entertainment platforms due to its popularity among millennial audiences brought up on interactive sites. Moreover, digital technologies have made it possible for us to experience engaging content at our convenience without spending much time watching long videos on television or even waiting for releases of movies after their theatrical run. It has ultimately benefited creative professionals who can introduce new concepts anytime they feel inspired, without barriers in terms of time or space. Hopefully, you enjoyed this article!
Masab Farooque is a Tech Geek, Writer, and Founder at The Panther Tech. He is also a lead game developer at 10StaticStudios.
When he is not writing, he is mostly playing video games