Digital Trends Transforming the Media and Entertainment Industry in 2020

The global media and entertainment industry is undergoing a massive transformation at the moment. Interestingly, it is adapting itself to improve customer experiences like never before.

Today, enterprises know that if they want to stay ahead of their competitors, they need to keep their customers happy.

So, how are they doing it? It’s simple. They are focusing on generating more and more customer-centric content.

2019 (for that matter) experienced an intensifying wave of popularity for on-demand streaming sites like Amazon and Netflix. The recently launched BritBox also primarily focuses on driving better media experience for their customers.

LoginRadius explores these shifting expectations of the entertainment industry and tries to identify opportunities that are likely to drive popularity in 2020. Let’s go through the top highlights.

Over-The-Top Content Will Take a New Turn

Of late, the market has been witnessing a boost in mobile computing devices — leading to a disruption in the broadcast television era. It has been creating more opportunities for independent artists to leverage the technology and cast themselves in front of a wider audience.

These independent artists decide how to use, sell, or distribute their content online. They are solely responsible for offering a more personalized, attention-grabbing, valuable, and relevant experience for their audience.

Are you wondering how this sudden turn of events will influence the number game?

According to an estimation by Strategy Analytics, revenue from OTT video in the US alone will exceed the $30 billion mark in 2020.

These figures grab attention and are hard to ignore.

Personalization Will Make the Media Smarter

Expect media houses to focus on creating smarter content that connects with audiences on a deeper level.

Rather than offering free content to the audience in general, with the power of analytics, AI, and machine learning, the media industry will produce more content niches that resonate with viewers.

Privacy Regulation Will Rebuild Trust in the Media Industry

Speaking of securing data, the EU’s General Data Protection Regulation (GDPR) was the first high profile regulation that the world came across. It rightfully set exemplary standards for media houses (and all organizations in general) and showed how to conduct business and store customer data.

Following suit came the California Consumer Privacy Act (CCPA) that officially took effect on January 1, 2020. CCPA, too, is expected to give individuals more control over how their data is being used.

But will it hit the right chords among organizations and individuals? Only time will tell.

5 Technologies That Will Impact User Experience in Media and Entertainment Industry

1. Blockchain

So, if you think blockchain is only about cryptocurrency, think again!

Within the media and entertainment industry, blockchain can be used to secure data transactions and improve digital advertising efforts.

2. AR and VR

With the recent interest in AR and VR from Silicon Valley giants like Google and Facebook, it seems like innovations in mobility, pricing and accessibility are on the cards.

Be it through story-driven content or experience-driven entertainment. They are expected to boost customer experience in the media industry like never before.

3. Voice Search Technology

The combination of AI, machine learning, and advanced analytics will continue to optimize content making customer experiences more personalized, compelling, and transparent.

4. Cloud Security Management

5. Facial Recognition

For instance, it will identify individuals in-store and offer purchasing recommendations based on their demographic.

How will CIAM solutions gain momentum in the media and entertainment industry?

As we enter 2020, here’s what businesses can expect from a CIAM solution.

Increase in subscription rates.

By implementing Single Sign-On (SSO), media houses can create a connected user experience across all its platforms. Viewers can access multiple channels using a single identity, and turn more visitors into subscribers.

Creation of relevant content with user profiling.

A CIAM platform like LoginRadius can record the preferences of their audience in unified customer profiles and generate relevant content.

Frictionless customer interaction.

LoginRadius’ industry-leading peak load capabilities, makes it an ideal CIAM provider for companies dealing with large amounts of customer engagement in a short period.

Conclusion

Amidst the ever-changing regulatory landscape, there are high chances that new opportunities are waiting to be capitalized. Now is your chance to reap the benefits.

Originally published at https://www.loginradius.com.

CyberSecurity innovator and author. Developer at heart. Co-founder/CTO of @LoginRadius, 🇮🇳 learn more — https://guptadeepak.com