With the global pandemic extending its course into the foreseeable future, the media and entertainment industry are now, more than ever proactive in preparing for the changes that have shown up to stay. One of the major shifts was observed in the rising popularity of OTT service platforms, wherein more and more people settled in to use media and entertainment like never before. Not only have the number of new platforms increased, but giants in the industry like Netflix and Amazon have also vouched for exponential growth rates steadily through the pandemic. With new challenges to tackle, along with a potentially forever changed industry the trends wading through 2021 are exciting, to say the least.
Direct to Customer (D2C) Video Streaming
With the pandemic came the demand for increased internet services. This was the catalyst in the exponential growth of video streaming. With a jackpot potential, new players in the market became service providers for D2C video streaming. However, experts in the field spectate if with such a large number of players in the field, if the users would be willing to test out new platforms in the long run.
Customized Viewer Experience
With a customer base of multiple demographics, the Media & Entertainment industry is actively looking for ways to provide a customized user experience, especially for millennials and Gen Z, with their heavy involvement in online services. Machine learning and algorithms are seriously being employed to optimize customer recommendations.
User-Generated Video Content
With the unexpected boom of TikTok with over 800 million monthly users, social content generated by the users is the next big thing. Following suit was Instagram and Facebook with their attempts at video content, social video content is almost regarded as one of the topmost trends in the collective recent years.
About the Author:
Nandha Palani Dorai is a content writer and co-founding editor of Bluegraph Press, the literary print magazine & online portal for readers and writers from Indian and South Asia. She helps in elevating brand presence through her content, copy & brand identity design.