With everything that the previous year has brought, we were able to notice serious changes and innovations in various industries. The entertainment industry was not an exception. The impact of Covid-19 has left some notable traces on the entertainment industry in general, reshaping the current landscape.
So, with that in mind, let’s see how things have changed and will continue to change throughout the year. On top of that, we’ll also explore some trends that every entertainment industry professional will need to look out for in 2021.
Live events – same but different
In 2020, live events were simply not a thing. Any type of social gathering or an event that would call for such gatherings were neither allowed nor sought-after. However, as things are slowly starting to go back to normal, live events are back on the radar. Of course, the way in which these are organized nowadays is far different than it used to be. Lately, we had a chance to see various sporting events being held with limited crowds. Naturally, the vaccinated par of the society can slowly start to regain a sense of normalcy. But even though these live events are progressively starting to come back into the picture, more time will need to pass until they fully return to where they once were.
Streaming services are on the rise
The last year’s lockdown left a lot of people with plenty of free time on their hands. So, naturally, the demand for entertainment significantly rose. Now, since consumers are nowadays faced with the tough choice of which streaming platform to invest their resources in – as paying for all of them is simply too much, there can be noticed a serious shift in demand. Nowadays, users are more open to ad-supported content that will remove or mitigate subscription fees, than they used to be. So, it’s safe to say that while in the past consumers were willing to pay a bit more for ad-free content, things are certainly starting to change in 2021.
Niche-specific content is more appealing
On a similar note, while people did have some extra free time last year to dive into and explore content they previously never came across with, we also had a chance to notice a significant rise in demand of niche-specific content. Most notably, Twitch and YouTube seem to have gained not only numerous new creators but subscribes and followers as well. Arguably, this is probably due to the fact that people finally had more time to spend pursuing content that most appealed to them. And with so many people losing their jobs the previous year, platforms like these offered a way to try and make at least tome income for the time being. It’s interesting to see try and see how many of those new creators will leave these platforms once things fully go back to normal.
E-sports and online games are on the rise
Along the similar lines, the e-sports and online gaming industries simply exploded. By recognizing the need for sporting events, sporting companies were able to create a somewhat IRL feel with various simulators and new titles hitting the market. Similarly, the online gambling industry gained far more followers in a relatively short time span. Online games of various sorts and genres became more popular and far more frequently explored than in the previous years. And, interestingly enough, some of the old yet favorite titles noticed a significant return of once dedicated games and players. Needless to say, this has only encouraged the e-sports and gaming industries to continue to deliver various content to their audience, as the demand still seems to be on a steady rise.
Social media and entertainment
With the Generation Z making some serious changes not only in the type of entertainment options they go after but also in the manner they interact with them, it’s safe to say that social media platforms designed with this purpose in mind will only continue to grow. While Instagram and Twitter are certainly not going anywhere any time soon, we not get the chance to see a new star being born – TikTok. Aside from this growing platform, various music and podcast streaming platforms are also on the rise.
Innovation is the name of the game
Needless to say, with so many changes happening all around us, staying on top of current trends is simply mandatory for any company and industry looking to grow. Without following new trends, embracing them and bringing serious innovations to your current offer, no industry can expect to rise beyond their current means. On top of that, staying up to date with the latest trends will put any business in a competitive advantage, which will bring numerous positive results. So, in 2021, make sure you identify and understand the demand and offer your audience what they’re looking for – even before they realize what it is they’re after.
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