The Future Of Entertainment And The Industry Beyond 2020By Toby Tunwase
The year 2020 was quite a year—a year with loads of bitter-sweet experiences for persons across all walks of life, a year when businesses were forced to embrace new developments and remote working seemed to be the new normal. But regardless, the year saw the coming of many impacts in a lot of industries, including the entertainment industry.
Like most other industries out there, the entertainment industry has got some prospects for the future. And going forward, the following changes are likely to occur:
Gone are the days when entertainment was based solely on in-person gatherings and live performances that require physical attendance. Today, we have lots of streaming options that entertainers can explore to make good money from. Platforms such as HBO Go, Hulu, and Netflix had earlier hit $20.1 billion in 2017 in the US. In 2020, they all experienced exponential growth in users and revenue.
In fact, PwC made a prediction that these platforms might experience exponential growth of up to $30.6 billion in 2022.
Creativity and Production
Today, everyone is either an artist, an actor or a singer on the various digital platforms. From YouTube to TikTok, the year 2020 brought a massive explosion in the creative community.
Now, some people make thousands of dollars just from creating content on these platforms. The best part about this is that many of them do this from the comfort of their home while wearing pajamas.
Entertainment has now become an industry where anyone with a great online presence and a good dose of talent can thrive. There are now more audiences digitally, and this creates massive opportunities for upcoming entertainers.