10 Media and Entertainment Forecasts for the Pand-Epidemic World – Variety4 min read
Our joint COVID-19 lockdown will result in our world changing forever and the media and entertainment industry is no exception.
Here are 10 ways Biz will change even after the crisis is over.
Prediction # 1: Our global quarantine will accelerate additional entertainment trends, “cutting the cord” of expensive cable TV packages and replacing them with one or more premium streaming services. The COVID-19 was a big step for these streamers, which now includes top streaming players Netflix, Amazon and Hulu, as well as new entrants Disney Plus, Apple TV Plus, HBO Max and NBCUniversal Peacock. Encouraged by these new media giants, it is hoped that Hollywood production will explode if it is safe to return to the water, as all these players are desperate to spend their huge content budgets to create their own distinct form of “must watch broadband TV”.
Prophecy # 2: Hollywood’s exclusive drama release windows shut down during the epidemic, which began with Universal’s “Trolls World Tour” – and it’s here. The first family-friendly and adult-driven feature films are expected to be released on their first day at home as part of Hollywood’s new routine. Meanwhile, theaters will still be home to franchise-driven event films that cater to younger audiences, a reality that pre-epidemic began, but accelerated because of it.
Prophecy # 3: In addition to being the main home of event movies, movie theaters will eventually become a destination experience that cannot be replicated at home in the streaming-first world. Theaters will go beyond the offer of leather seats and sushi to include pre-show and post-show elements and will be places for remote participation in out-of-area events (think of an array of remote cochlea over the same weekend).
Prophecy # 4: Speaking of Kochella, live concerts, events, theme parks and location-based and experimental entertainment will return to the paths of pre-epidemic growth as a result of the overall consumer aspirations and the need for real world interaction in the growing digital world. However, certain issues related to site sanitation and touchless transactions and remote food, beverage and merchandise orders, as well as site traffic flow optimization and applications for traffic congestion / congestion change forever. These technological enhancements, inherent in today’s reality, will enhance the overall customer experience and satisfaction.
Prophecy # 5: As a result of the epidemic-driven virtual engagement in the new world of shutter physical spaces, artists will be increasingly employed as the world unfolds to increase their live tour revenue and increase their own scale. Virtual engagement, which enables unlimited performances from a single location (even homes) on a single day, will move beyond live streaming and include new innovative and lucrative opportunities like Travis Scott’s recent “Fortnite” virtual concert. To enter the immersive VR realm – expect these virtual events – that will enhance but not replace real world live performances.
Prophecy # 6: In the face of virtual engagement, our combined individual launch has significantly expanded the acceptability and acceptability of live streaming and technology-enabled remote engagement and collaboration. This means more virtual production and post-production and less industrial travel. The technology companies, and the venture capitalists behind them, will take this new reality even further with the development of industry-specific and customized virtual creation, collaboration and production tools. The boon for production efficiency and flexibility. Media and entertainment companies are a genius for the commercial real estate world as they reduce their physical office impressions.
Forecast # 7: The games sector has already been stimulated by the combined lockdown of the epidemic and desperate demand for indoor recreation, its meteoric growth will continue. Cloud-based mobile gaming and 5G networks will make things even faster. The highly enticing and proven “free to play” business models of gaming are increasingly taking on other forms in the media themselves, especially in the world of music applications and experiences they will find. This will also benefit the artists, as their super fans have reached out to pay for their virtual attention and affection.
Forecast # 8: The related sports industry that has already surpassed 1 1 billion, but was unknown to many until their kids were introduced to it during our volunteering, will now grow into a much faster clip. Like the game world, 5GO will accelerate further adoption and attract the growing marketing dollars of big brands. In attracting sponsorship dollars, Esports will become more like “e-Theletes” and more traditional athletes will cross the world of sports to reach a new generation of fans.
Prophecy # 9: Similarly, the initial promise of virtual reality increased that epidemic testing and exposure would soon be realized. Mixed reality will accelerate investment in technology and all media sectors will benefit from the power of immersive entertainment. COVID-19 will similarly introduce the benefits of virtual reality for virtual psychological “resets” that are needed because of this. In the meantime, virtual travel will become a meaningful complement to pre-epidemic real world travel for those who are uninterested or unable to travel due to economic or physical limitations (who are at the highest risk).
Peter Cassetti is the founder and chairman of Creative Media, a media, entertainment and technology business development, M&A, consulting and creative services firm.