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Communication, Media and Technology
Entertainment and media industry is well diversified and has witnessed substantial transformation in terms of technology and applications in recent years. This has led to offering which covers innovative content and effective distribution models to stay ahead in the highly competitive market. Market is constantly developing strategies to combine high-quality content and distribute it. This is to offer enhanced user experience in terms of content discovery and attractive prices. The industry is greatly benefitted by digital tools and platforms facilitating efficient production, distribution, and consumption of content. This has helped revolutionizing the market growth.

The global entertainment and media market is expected to reach approximately USD 6,709.4 billion by 2030, registering a CAGR of 10.40% during the forecast period

One cannot disagree that digitization has changed the way how we interact with the world. We no longer like to receive information as we used to, decades ago. People no longer like unilateral information, rather they want to share their views and involve in a multilateral conversation. The 25 pages newspapers with National & International, sports, Cultural, Economic, Editorial section do not catch the interest of people who only wants to read sports-related news. The changing demand and expectation of people have put a lot of pressure on the communication and media industry to adopt digitization as a means to provide hot soup on the table.

Digitalization has fundamentally transformed the nature and function of the communication & media industry, reinventing age-old practices of public communication and at times circumventing conventional media. With the blossom of electronic communication tools, media has altered the way news & entertainment content is disseminated around the world. Now, it has become more vibrant than ever, offering faster and cheaper distribution of networks, multiple ways to showcase information, few barriers to entry. Brands nowadays look for new communications solutions and an increasing good sum on R&D. Large and new media companies face strong competition as new start-ups are being successful in engaging the public with new approaches. Earlier a company has to invest a good sum of money on media, and communication to existing in the market but now anyone with $10 can have a successful blog. Social media offers the possibility to participate in the large discussion, Google allows to get immediate customized content. As stated by Bill Gates, “If your business is not on the internet, then it will be out of the business.” Pertaining to the facts it becomes critical, to join hand with trending digital era and gain advantages of it.

Did you know?

  • 90% of people around the world consume news on the internet, primarily through social media and instant messaging services.
  • Cloud-based -voice research and AI such as Apple Siri and Amazon Alexa provide users with better voice facility to read out news, provide the aided advantage of multi-tasking, eliminating language barriers, etc.
  • Artificial Intelligence (AI) is playing a significant role in highlighting the emerging potential of technology in automating news delivery services.
  • Xinhua, the state news agency of China, recently displayed a virtual newsreader that works on the principle of AI, can deliver news 24 hours a day on websites and social media platforms.

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