Entertainment – the next generation
While the media and entertainment industry was one of the first sectors of business to navigate digital disruption, its transformation is far from over.
The industry revenues is expected to reach $792.3 billion by 2022, up from 666.9 billion in 2017.
With the distinctions between print and digital, video games and sports, wireless and fixed Internet access, pay-TV and OTT, and social and traditional media are blurring, to succeed in the future, companies must re-envision every aspect of what they do and how they do it.
During the five-year period from 2017 to 2022, virtual reality (VR), over-the-top (OTT) video, and internet advertising will be among the fastest-growing revenue generators for M&E companies in the U.S.
The VR market is quickly transforming into an entertainment and productivity platform. The U.S. is currently the world’s leading VR market, with revenue of $1.5 billion in 2017, a 250%-plus increase year over year. By 2022, that total is expected to reach $7.2 billion.
OTT video revenue for media and entertainment (think: HBO Go, Hulu, Netflix) in the U.S. reached $20.1 billion in 2017, up 15.2% YoY. and is expected to reach $30.6 billion in 2022.
This panel will discuss how the entertainment industry has reinvested it self by integrating advance technological solution in its new product offering from live performance streaming, virtual concerts in VR and tools that provide access to entertainment to produce a concert in your own living room.