Why should you innovate to suit Home Entertainment?
The entertainment industry is constantly on its toes to bring out the most creative content to keep pace with technology developments. The game-changing innovations in the Home Entertainment Industry have helped in the endeavor to keep customers entertained. However, a lot more innovation is required to keep up with constantly increasing customer needs.
Here are some areas where the industry needs to pay strong attention to customer needs:
Ever thought of paying a ‘heavy’ price for the technology that you use, be it Netflix or Amazon Prime? We are in the era, where we can enjoy home entertainment at cheap prices. Innovations have increased the affordability and accessibility of movies and music, unlike earlier when people could not even afford to buy a radio or a television set. In the last years of the millennia, CD’s used to reign the home entertainment industry. One music CD used to cost around $ 14 in 1999 and the CD sales accounted for billions in revenue.
However, with digital innovation, music has become accessible to everyone from all over the world at affordable prices. The option to download music and transfer it through digital channels has completely eliminated the scope of compact discs. The influx of new technology has greatly enhanced the storage capacity as well. Earlier, one used to require numerous CDs for their favorite music. The entertainment industry needs to stay prepared to embrace change in trends and strive to stay relevant in the mark
The world is getting busier with every changing day and the paucity of time has forced people to look for alternatives to Cinema. A research by the Elon University suggests that there was a decline of almost 53% in the weekly cinema attendance across the last 5 decades in the US alone. Netflix is certainly one of the greatest game changers. With the humble beginning of door to door deliveries of DVD’s, Netflix has grown as the greatest player in the field. The option to stream movies and shows anywhere, at any time is revolutionary. The accessibility of movies from different parts of the world has increased revenue as well. Interestingly, many Hollywood studios have started renting movies to customers for as low as $3, just weeks after the release.
Real Time Experience
Affordability and accessibility have certainly become easier with the help of innovation. However, the lack of real-time experience may defeat the very purpose. Some innovations are providing great experience to people. These are some of the innovations worth being noted. The transition itself speaks volumes about how it is important to innovate each day with coming of innovations like Dolby Atmos, Sennheiser RS220 and Sony PlayStations Vita. It is interesting to notice how Dolby Atmos enables users to experience the characteristics of a theatre in the comforts of their home, and Sony PlayStation Vita, the seven-inch device can easily handle PlayStation 3 games. Innovation is taking place constantly, let’s keep up with the pace!
To Hone the Emerging Prospects
The age of social media has entirely transformed the world and the entertainment industry too. A recent research suggests that children who are active on social media have a huge influence on the selection of subscription videos. Media companies can successfully use social media to come up with innovative ways of engaging audiences.
There are incredible entertainment studios that specialize in virtual reality technology. Never has it been easier to kick back and enjoy your favorite movies, music and games than now. With numerous innovations, the entertainment industry is becoming better and is earning major views.
Innovation is reshaping and improving the Home Entertainment Industry at a great pace. It is not hard to believe that all contemporary technology can be replaced by better and affordable technology. Innovation and agility are the keys for media companies to stay in the race and flourish. Keep a tab on the ever-changing entertainment industry to be a step ahead and lead the flock.
Anthill Studio has been conceived and operationalized with the goal of fostering and catalyzing innovation in key areas of the Entertainment ecosystem. We are working with many bleeding edge technologies and offering them help in key operational areas: mentoring, business plan refinement, market access and lots more. Visit anthillstudio.co to learn more