Over the years, the entertainment industry has continued to grow in leaps and bounds. Thanks to advancements in technology, there have been numerous interesting changes in the field, revolutionizing the industry. Things are not about to change anytime soon because it is clear that people still need to be entertained. Stakeholders are also putting their best foot forward to ensure they only deliver the best. After the difficult year most people faced in 2020 because of the pandemic, you may be wondering what 2021 holds in regards to entertainment trends. Below is a highlight of some of the trends to expect.
The Arrival of 5G
Internet speeds are going to be skyrocketing soon with the arrival of 5G. GSM Association predicts that by 2025, 5G networks will have attracted over 1.7 billion subscribers globally. The fifth-generation mobile network is designed to virtually connect everything and everyone, including devices, machines and objects. In addition to high data speeds, 5G wireless technology will also deliver more reliability, ultra-low latency, huge network capacity, a more uniform user experience to many clients and increased availability. This is bound to empower new user experiences as well as connect new industries. 5G will affect many industries with the main ones being entertainment, smartphones and in-home internet.
Subscriptions to Streaming Video Services Will Increase
More people are leaning towards video streaming services – the reason subscriptions are continuing to grow. This is probably because more people are spending more time indoors. More platforms are also being developed, giving consumers a ton of options to choose from. Statistics show that video comprises more than 2/3rds of the total revenue collected from subscription streaming services. Experts predict that revenues will continue to increase to more than $21.9 billion that was recorded in 2020. Competition between video streaming services is also becoming stiff to ensure clients get everything they want on one platform.
Gambling Revenues Will Increase
It is not possible to talk about entertainment trends without touching on gambling. Gaming enthusiasts are flocking premium gambling platforms like GGBet casino online to satisfy their entertainment needs. The casinos promise members a good time by having a wide variety of games and promotions that keep people playing for hours without getting bored. There are also numerous inventions in the casino industry that make gaming more exciting and fulfilling. This includes the incorporation of VR and live games offering online gamers an exceptional experience. With more people gaming in online casinos, revenues from the gaming establishments are bound to rise.
Sale of Smart TVs Will Increase
Experts predict that more people will be investing in smart TVs in 2021. The ownership of these gadgets has grown from 24% of households in 2016 to 60% in just 3 years. The numbers are expected to continue growing in 2021. CTA reports that 4K Ultra High-Definition TVs will make up at least half of the new TVs that will be bought. There is a probability that more TV brands will release products with better audio and mini LED backlights. It is also likely that the market will be flooded with huge-sized TVs measuring 85” or more at affordable rates.
Disc Players May be Phased Out
Recently, the sale of disc players has been dropping significantly. There is a chance that they may be phased out of the market altogether. Many people are opting for streaming devices instead. In 2020, CTA estimated that there would be 3.3 streaming media players sold for one Blue-ray/DVD player. In 2016, this number was 1.1, which shows the shift in consumption of streamed content when compared to traditional ownership of physical copies. Companies like Samsung are already on top of this trend, as it has already halted the production of BluRay and DVD players.
AR and VR Will Become More Pronounced
For some time, the growth of AR/VR (Augmented Reality/ Virtual Reality) in the entertainment industry has been taking a back seat. 2021 may see double-digit growth for the first time in years. VR and AR are already making a huge impact on home entertainment. In addition to games, the technology also has new and creative ways that add realism to productions. Asides from home entertainment, popular films and shows globally are also starting to see the perks of using VR and AR.
