Global Media and Entertainment Industry

Media and Entertainment industry has reached a whole new level with all the technological advancements in the Industry 4.0 era. From building viewer-centric dynamic content to making it available on every connected device, this industry is driven by innovation at every step.  For example, video streaming has become more convenient as users can access videos from anywhere and at any time. And as the app keeps updating from time to time, it adds lucrative features and fixes bugs without hindering the user experience. With the upsurge of people stepping into this industry, the competition to stay at the top depends on how well organizations leverage the emerging technologies.

Overview

Technologies are replacing traditional media practices and tv sets. Emerging technologies are playing a vital role in the race to create platforms that replace traditional media practices and televisions. The production department is experiencing advancements, with high-end hardware tools that capture the unreal, graphics that seem realistic, augmented and virtual reality, and softwares that help build the content atmosphere we see and experience today. With internet connectivity and 5G being live, media can be streamed, downloaded, uploaded, and seen live from anywhere with minimum delay, on the go!

IoT
The IoT ecosystem is expected to generated 4,300 billion USD by 2024 in relation to Media and Entertainment industry – Accenture
Entertainment
By 2021, the U.S. Media and Entertainment industry is projected to reach $759 billion in revenue, increasing at a compound annual growth rate (CAGR) of 3.6 percent – PwC
VR
A total of 68M Virtual Reality headsets will be in use in the U.S. by 2021 with the installed base growing at a CAGR of 69.2 percent. – PwC

Career Opportunities in Media and Entertainment Industry

IoT
With IoT, millions of wearable, smart and interactive devices are connected that can stream various kinds of media. The traditional way of watching TV and playing video games just got modernized; watching the favorite show or movie; listening to a wide range of music; playing high-end graphics games, individually and in groups; browsing HD images, newspapers, and magazines, advertisements, etc. all online! IoT offers an atmosphere that creates one-to-one interaction with the viewer, hence making the entertainment experience more personal and customized.
Cloud & DevOps
Entertainment giants like Netflix, YouTube, Amazon Prime, etc. are in love with the combination of the Cloud and DevOps. These are making the Media and Entertainment industry scalable, flexible, cost-effective and agile to meet the dynamic demands of the viewers. With high-resolution content like 4k and others, the cloud is the best option to store and manage the massive digital content that can be accessed faster and more often. DevOps working on the operational level takes care of the quality, speed, and seamless execution of all software and applications online
DL, ML, & Big Data
The Media and Entertainment industry has gone beyond than just providing digital content to its users. An enormous amount of data is getting collected and analyzed upon, and highly relevant content is reaching to the right audience in the form of news, magazine content or any other media. There are recommendations provided by applications driven by AI, ML, Data Analytics and Big Data that are designed to capture the user’s mood and reactions. In-fact Disney tracks their audience reactions through neural networks, and this data is further used to quantify their digital content on a granular scale. This industry is now a battlefield for not only the creative minds but the technologically sound minds as well.
Others (Business Courses)
The Media and Entertainment industry is versatile and demands a new addition on its platter at every point. Marketing and advertisements, personalized services, searches and classification, the innovation of experience, broadcasts, content creation, and management, etc. are all driven by technology. Technologies like Blockchain are making it possible for licensing media in a centralized way reducing content copying and maintaining authenticity. Professionals skilled in disruptive technologies are an asset to any company.