The job role I have chosen to examine the effects of digital economy is the media and entertainment industry. Everyone has their own ways to get rid of the pressure and stress as well as entertainment. Nowadays, smartphones which are accounted for by digital entertainment such as video platforms, E-books or music apps, make life more convenience and comfort. There are some factors improved the digital entertainment industry in terms of easier to access, more innovation content, affordable rates but all of these are based on the big data. These factors will be gone through in detail in the following. Also, the development of this industry will be talked about in the lower half.
People were used to going to the cinema for a movie last for one and a half hour or probably longer. However, the media and entertainment industry provides a free or acceptable price for watching films or videos anywhere and anytime.
Besides, music is now available for free downloading with different music websites or apps. People would like to prefer the free one rather than buying a new CD. The internet inevitably provides a quick way to gain those free downloads and the best way to enjoy music everywhere.
In addition, other entertainment which is reading. Of course, there are many people like physical books or newspaper, but there is a faster and frugal way to access is online reading. As we can see, the entertainment are easy to access and available enjoy them at home. Those examples are telling us lifestyles of entertaining is no longer as rigid as the traditional entertainments. But the changes doesn’t mean the digital entertainment will totally replace the activities people were used to do.
As a post-90s, I really felt the change from traditional entertainment to digital one. What I saw is fewer people likely to read books or magazines in the library. Although most of the music I have heard are all online, I witnessed the phase-out of mp3 as well as iPod after the introduction of the first smartphone.
Preview the media and entertainment industry afterwards, there are a few trends directly impact the future. To commence with, the content will be expanded. Since the information is shared within everywhere including the websites, advertisements in the apps or games, this changed the communication between the entertainment industry and consumers into the direct way. The companies can recommend similar types of entertainment to their potential consumers after collecting the data. Meanwhile, the customers expect the entertainment companies can provide more positive and creative services.
Regards the advertisement, furthermore, it will be optimised as the big data share the preference of consumers. Traditionally, the advertisements are provided on the television during the rest of a film or drama or shown on the newspaper or magazines to sell their products and services. Compared to the digital advertisements today, we can see many different styles and categories promotion on Youtube, Facebook, even in the games! I am the one who is often disturbed and confused by the sudden jump out of the advertisements. I know you might be the one as well. In this case, we know how the data shows their effect on us.
On the other hand, this change not only advantages the companies who promote their goods and services but also benefit the consumers. Why does that probably happen? Transparency is one of the targets of public chasing. To gain more trust and loyalty, companies are willing to share their information about the products or services with providing personalized experience and brand loyalty. In a place with free privacy, the engagement can be increased which also longer the viewing time. Consumers will take more time in comparing the different brands because they have to choose the best one.
All in all, the media and entertainment industry is one of the most significant changes within the digital economy. Maybe we can say in other words, many of the physical items have been changed to the internet ones. For examples, a movie was played in cinema but can be watched at home though it is not as shocking as watch in a theatre and music can be enjoyed from a smartphone instead of a CD. Such activities can be done anytime and anywhere. It proves how the technology alter our daily lifestyle, isn’t it? With the introduction of 5G, accessing the internet and gaining information at a lightning speed decrease the time on receiving the messages and knowledge. Although it is not common globally and even not completely cover in United Kingdom, the emerge of 5G gives surprise to all of us. I believe that the future development of media and entertainment industry can provide more tailor-made experience for each person with the improving digital economy.
Word Count: 801 words
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