The digital transformation in the Media and Entertainment industry is at the speed of light. Competitive content producers command the loyalty of legions of consumers through direct-to-consumer distribution. Multichannel video programming distributors are now acquiring content producers and cable networks, publishers are dishing out information services, and ad agencies are stepping into content creation.
To thrive in such a fast-paced industry, businesses need to deliver personalized customer experiences in an agile manner at the front end. On the inside, they must strive to reduce the total cost of ownership by incorporating automated digital workflows and working with scalable, secure environments that integrate easily with advanced AI. That’s where ValueLabs’ media and entertainment IT solutions enter the picture.
With a growing number of OTT platforms hitting the market, a mix of top-notch content and pocket-friendly subscription packages is not enough to retain audiences anymore. Media and entertainment IT solutions with intuitive interfaces, intelligent search options, and personalized content recommendations will emerge as winners. AI is key to achieving this, and OTT platforms widely leverage machine learning (ML) to analyze subscribers’ viewing habits.
To cope with the ever-increasing demands of guests, the casino industry looks towards media technology solutions. Cloud-based infrastructure enables casinos to modernize their systems with low investments, and virtual reality (VR) is paving the way for a more immersive gaming experience. Many casinos are also modernizing payments, and electronic gaming devices are now being funded from mobile digital wallets. Cryptocurrency is set to dominate the gambling industry and placing bets via smartwatches is now a realistic possibility. As a dedicated media and entertainment technology company, we vow to make the journey easier for you.
The US media industry is one of the biggest media industries in the world and accounts for nearly a third of the global media and entertainment consulting industry itself. There is no doubt that the US movies and entertainment sector is the largest globally. However, the US media industry has witnessed undulating growth in recent years. Regulations remain stringent across all industry sectors, and their entry for new players is limited. Furthermore, piracy of video and music has had a massive impact on the industry lately. Streaming appears to be the latest trend that has been prevalent across the US digital music industry and is expected to continue its edge over digital downloads in the coming years.
Advertising technology (or simply AdTech) has a global market value of 185.17 billion USD at a CAGR of 3.9%. USD as of 2023. It includes all kinds of digital solutions that collect and process data to form, control, and analyze advertising campaigns. AdTech is focused on increasing the effectiveness of advertising channels. Advertisers use it to collect massive amounts of audience data and accurately determine the target audience. Ads are delivered to the most relevant audience at the right time and place. Moreover, Ad Tech allows for the analysis of campaign results to further improve effectiveness.
The US Media and Entertainment service industry is known to be the largest globally. At around $717 billion, it represents one-third of the global Media and Entertainment IT service industry, including various segments: motion pictures, television programs, and commercials, streaming content, music and audio recordings, broadcast, radio, book publishing, video games, and ancillary services and products.
In the last few years, the astronomical rise of e-sports has been reshaping the media and entertainment software industry, as is visible through its increasing worldwide fanbase and positive trends. As people have been increasingly confined indoors, exploring ways to make the most of their time, there has been massive growth in viewership and demographics in e-sports like CS:GO, Overwatch, Dota 2, Fortnite, and League of Legends – over Twitch, YouTube, Instagram, Facebook, and other streaming channels. The introduction of lite apps has powered a surge in mobile e-sports, bringing a myriad of exciting games to life. As 5G looks to transform download speeds, streaming capabilities, and real-time gameplay experiences, e-sports will enable gamers to bolster their experience without installing new infrastructure. Network slicing by 5G networks will ensure a smooth 3D AR experience for spectators in tournament areas, and allow instant replays on their devices.
Since the emergence of COVID-19, virtual events have become the norm. The media and entertainment IT service industry is set for fast-paced growth, with no dearth of innovation and opportunities. Live streaming has become a staple trend in the world of event technology for quite some time now, and offers a variety of benefits: you can extend your event to users who couldn’t make it, engage international customers, and generate buzz. As contactless check-ins become a norm in the coming years, facial recognition technology will play a vital role in driving them. Attendees can also enter the world of AR with a quick scan of a QR code: from full wall projections to 360-degree indoor art installations, you can delight your attendees in a plethora of ways.
During the pandemic, musicians began to monetize live-streamed performances over social media platforms using donation links, while recording artists focused on placing music in TV shows, films, and commercials to generate revenue from licensing and royalties. This rapid digital transformation in the media and entertainment industry was made possible thanks to advanced media technology solutions like AR/VR, speech recognition, Blockchain, AI, the Internet of Things (IoT), and 5G.
The United States has one of the world’s highest social network penetration rates. In 2020, over 223 million Americans were using social networks to post pictures, like and comment on content by others, or send private messages. With over 70 percent of the US population holding a social media account, these platforms and services have become some of the most popular online activities of the past decade. By 2025, the number of social network users in the United States is expected to increase to approximately 243 million. As a media and entertainment technology company, we can help you optimize your solutions and make the best out of different social media platforms.
Automate workflows to reduce the workforce required, drive quality, and reduce cost. Deliver super-fast and accurate customer service, and adhere to stricter compliance requirements, all while delivering hyper-personalization.
With our media and entertainment IT solutions and 25 years of industry experience, you can deliver unified experiences that users expect – across mobile, desktop, and tablets. You can take advantage of our extensive analytical capabilities to help you and your clients make informed decisions, drive business into unchartered territories, and keep you relevant – in a rapidly changing landscape.
Be prepared to fulfill the new media and entertainment IT services industry demands. Discover new opportunities to deliver value through exciting new partnerships and rise through the ranks with the content creators of today and tomorrow! The future is exciting and filled with more business opportunities than ever before.
If you’re looking for end-to-end Media and Entertainment IT solutions, you’re at the right place. With 25 years of experience under our belt, ValueLabs is your perfect growth partner.
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