Thursday, May 30, 2024

Entertainment moving online is driven by consumers, not providers

Streaming services and platforms have exploded in popularity over the course of the last 10 years, and the last two years especially have seen the launch of dozens of new streaming platforms. However, the shift of film, television and music to digital platforms and streaming was not something that the media sector welcomed. Instead, consumer interests and demands steadily pushed for streaming platforms and services and finally, in the last few years, media giants have begun to take note.

Hollywood dragging its heels

Hollywood resisted the reality of streaming for a long, long time. The media companies which have not innovated and adapted to the new, digital future have lost money and marketshare due to the rise in popularity of streaming. It was not until Roma won an Academy Award that Hollywood finally woke up to the possibility that streaming could be the future of all entertainment — and that it was not going anywhere.

Consumer interest has driven streaming into the media stratosphere — not providers. Streaming is typically much less expensive than paying for films, television shows or CDs outright because most streaming services run on a subscription model. As a result, media giants in film, television and music were all extremely resistant to the dawn of streaming services and have only recently begun to accept that streaming is here to stay.

Convenience is king

It should hardly be surprising that convenience is driving a lot of the demand for digital content. While some of this may be the result of a bit of cultural laziness, convenience has also become more important because many people, especially young people, are struggling to make the same amount of money that their parents’ generation did.

It is no longer as easy as it once was to buy a “starter house” and, as a result, an increasing number of people are working long hours and having to take on multiple jobs. This cut-throat, difficult economic climate has led many people to appreciate convenience and ease above all else.

One test case for the rise of convenience in entertainment is the success of the online gambling industry. The online gambling and betting industry has grown exponentially over the course of the last 10 years. It has essentially exploded in popularity over the last year or two. There are now hundreds, if not thousands, of different online gambling and betting platforms available for gamblers to choose from, all of which offer competitive registration bonuses and large libraries of games.

Many gamblers now prefer to visit an online or digital casino from the comfort of their couch, during their commute home from work, or in between pints with friends. Online casinos can be used on mobile phones, laptops and tablets, making them much easier to use and more convenient than driving across town to visit the brick-and-mortar casino or walking down to the local betting shop.

Streaming services leading the way

Recent times have forced every sector of the economy to think strategically, innovate and reconsider their place in the market. Consumer interest in streaming films, television and gaming have skyrocketed during the last couple of years.

While at first, Netflix was the only streaming platform company in the market, there are now dozens of different platforms including Hulu, HBO, Peacock, Amazon, Disney+ and more. The increased competition has driven subscription prices down for many consumers and has forced many of the streaming platforms to start innovating in order to stay ahead of the competition.

For example, Netflix will soon be launching a streaming service for gaming as part of their subscription. This will allow users to play mobile games streamed directly to their mobile device without paying additional fees every month in order to do so. This is just one example of how the industry is now starting to realise that innovation is key to maintaining consumer interest.

What is next for digital entertainment?

It is difficult to say what the future holds for the digital entertainment sector because it is continually innovating, changing and advancing. That being said, it does look like gaming will continue to grow in popularity and may begin to overtake other forms of entertainment in terms of popularity and marketshare.

Regardless of what happens however, you can be sure that streaming will continue to be popular — and that media giants will start listening to consumer demands more quickly.

Sam Allcock
Sam Allcock
Sam heads up Cheshire-based PR Fire, an online platform that has already helped over 10,000 businesses to grab widespread media coverage on their news at an extremely accessible price point.

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