Top 4 Digital Transformation Trends In Media And Entertainment For 2020

Source: Forbes | Author: Daniel Newman | Published: Nov. 7, 2019

 

Over the summer, streaming giant and industry up-ender Netflix reported its first domestic subscriber loss since 2011 and its lowest quarterly subscriber growth in three years. Within hours, its stock value tanked $17 billion in a single day. You read that right: $17 BILLION. Clearly, no one is immune from disruption and this is especially true in the media and entertainment business—even those who helped create and spur them forward.

Last year, we looked at digital transformation trends for media and entertainment focusing on things like the increase in video ads, a clamor for digital experience, and a rise in mobile data usage due to such high demand. All of these predictions have become a reality and heading into 2020, all of those things will likely to continue. After all, we as consumers haven’t changed that much. We still want lots of content, everywhere, right now.

The greater trends we’ll be seeing from the media and entertainment companies themselves, however, will focus more on getting a handle on the wild masses of content being created and shared across an endless number of channels. In other words: we need to cap the crazy and realize what types of technology advancements and content creation will really drive business in 2020—and which will merely drive companies into the ground.

With tech proliferation showing no signs of slowing down, I see 2020 as an inflection point where companies are going to need to better operationalize current technology and prepare their organizations to handle the next wave of technology such as 5G, Mobile AR/VR and conversational AI, all the while also being more profitable and more connected with their consumers.

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