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entertainment industry

Major Challenges Facing the European Entertainment Industry

The European entertainment industry is growing at an unprecedented rate, and several companies are finding it difficult to keep up with the pace. Challenges arise due to the growing pressures to keep the costs down while trying to improve revenues and the highly fragmented media consumption habits of customers. The trend of one big company dominating the market is gradually fading away, providing an opportunity for small players to complete successfully. One of the most significant trends observed in the media and entertainment industry is the shift in media platforms from traditional channels to online mediums. As a result, it paves the way for the European entertainment industry to implement big data analytics technology to gain more profound audience insights.

With new sources of data available to the media and entertainment companies every day, they can efficiently understand customer needs and deliver the right content to address the needs of the audience. However, with the rapid adoption of digital technologies, the entertainment industry is poised to face critical challenges that may slow down their progression. In this article, we have listed major challenges facing the European entertainment industry, a knowledge of which can help media and entertainment companies to adopt a smart approach and stay ahead of the curve.

Quantzig’s big data analytics solutions help companies in the media and entertainment industry to develop the best promotional and product marketing strategies to attract and retain customers. Request a free brochure of our analytics solutions right away to gain better insights!

Challenges Facing the European Entertainment Industry

Challenges in the European Entertainment Industry

Data privacy concerns

Today consumers are being more sensitive towards their data and are concerned about how their data is being used. Additionally, policymakers have also addressed their issues and have implemented regulations for businesses that handle personal data. Such challenges can pose problems when it comes to accumulating sufficient user data, without which accurate analysis cannot be performed.

Our big data analytics experts can help you analyze digital media consumption patterns and behavioral data that can help you provide personalized experience to your consumers. Talk to our analytics experts now. 

Lack of financial muscle

One of the most significant challenges in the European entertainment industry is the lack of financial muscle for media start-ups and SMEs. While accounting for cost factors to implement data analytics, companies in the European entertainment market need to look at various factors including data storage costs, infrastructure costs, data processing costs, and human resource costs. Although it is easy to start a new company producing content, games, or apps, it can be tough to scale up without significant investments. Thankfully, the advent of cloud storage and SaaS solutions have provided a way out for start-ups and SMEs.

We offer customized analytics dashboards that can help media and entertainment companies to increase digital conversion rates by offering micro-segmentation of customers to their advertising networks and exchanges. Gain limited-time complimentary access to our analytics platform today.

Piracy, copyrights, and account sharing

Piracy and copyright issues have been a major area of concern in the media and entertainment industry for a long time. However, the advent of the digital medium has created a new challenge of account sharing. For the majority of video streaming sites, a large number of people gain access by sharing account information and passwords. Analysts will have a tough time performing analysis on customer preferences as they cannot pinpoint the demographic details of the user. Both the child and the adult may be using the same account, so an effective judgment is impossible on whether the child or the adult prefers a specific genre.

Learn more about the challenges and opportunities in the European entertainment industry

entertainment industry trends

Entertainment Industry Trends: What’s in Store for 2020?

The entertainment industry is evolving at an unprecedented rate globally. However, this industry is facing several challenges due to factors such as increased pressure to improve the consumer experience. Moreover, the shift in the consumer demand for personalization is putting constant pressure on entertainment companies to drive innovation and embrace new technologies. This is the reason why companies need to keep a closer watch on the latest entertainment industry trends to withstand contingencies and capitalize on new opportunities at the right time. In this article, we have curated a list of entertainment industry trends that are going to impact the business operations of entertainment companies in 2020. Also, keeping track of these trends will help entertainment companies to drive profitability and improve the consumer experience.

Request a FREE Brochure of our analytics solutions to know how it can help you tackle data privacy threat in the entertainment industry.

MEDIA AND ENTERTAINMENT INDUSTRY

Entertainment Industry Trends 2020

Growing popularity of artificial intelligence

Like many other industries, the entertainment industry is poised to witness a major transformation due to the advent of new technologies such as artificial intelligence and virtual reality.. With the help of artificial intelligence, companies in the entertainment industry will be able to make personalized recommendations based on consumer habits. Also, it will make the process of content creation more efficient for entertainment companies. Furthermore, by using artificial intelligence, companies in the media and entertainment industry will be able to quickly create new ads and movie trailers. Additionally, this will help in streamlining pre- and post-production processes, making all steps more cohesive and less resource consuming.

Analyzing large data sets is one of the biggest problems affecting the business outcomes of entertainment companies today. Talk to our analytics experts to know how to stay ahead of the curve with the help of analytics solutions.

Influence of virtual and augmented reality

Virtual and augmented reality is one of the entertainment industry trends that is already captivating the attention of consumers. Virtual and augmented reality has made it possible for consumers to interact with brands. For example, on registering with many applications, users get points that can be redeemed in the next subscription cycle. This also helps in improving consumer engagement and boosts the commercial success of companies in the entertainment industry.

At Quantzig, we understand various challenges that media and entertainment companies face in analyzing the feasibility of analytics solutions for their business. Our analytics solutions are tailor-made to suit the requirements of each business. Gain limited time complimentary access to our analytics platform now to explore new opportunities.

Booming blockchain technology

This is one of the trends that can radically change the entertainment industry. Blockchain is one of the emerging entertainment industry trends because it can help companies that are financially robbed by distributors and labels. With the help of blockchain technology middlemen can be removed from the distribution channel and can offer a more equitable system for creators, producers as well as consumers. Furthermore, it can help in bringing in decentralization and efficiency to the entertainment landscape.

Learn more about the entertainment industry trends and technologies that are going to impact your business in 2020.

IR17

Top 3 Ways Advanced Analytics Can Transform Media and Entertainment Industry

Art and science are often seen as two different entities, especially with art exploring what gives it meaning and science focused on explaining how the world works. But today, the trend in the media and entertainment industry to link the two and get better returns by using technologies like advanced analytics, the Internet of Things (IoT), artificial intelligence (AI), and machine learning is growing. In this competitive era, companies in the media and entertainment industry are also facing the heat of increasingly competitive and uncertain markets. The growing focus on data-driven marketing and digitization has induced a revolution in the media and entertainment industry on how it uses advanced analytics. The future of the media and entertainment industry is dependent on the fusion of both digital and analytical solutions. Now, enterprises are eager to transform media platforms in order to provide more personalized content to its audiences. In this article, we have offered a detailed insight into how advanced analytics can revolutionize the media and entertainment industry and how it can be a palpable game-changer in the current circumstances and dynamics of the quickly changing world of media.

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Popular Entertainment Industry Trends to Tune into in 2018

Technology is one of the key entertainment industry trends for this year, opening up new opportunities, media trends, and creating new revenue models for the players in the media & entertainment industry. Click To Tweet

Technology is one of the key entertainment industry trends that has massively disrupted this sector, opening up new opportunities, media trends, and creating new revenue models for the players in the entertainment industry. The way people consume media and entertainment has drastically changed over the past decade. Gone are the days when the audience was forced to watch what the entertainment channels decided to broadcast. Thanks to the advent of such entertainment industry trends, today’s customers have the power to choose what they want on demand, anytime, and anywhere at their convenience. 

This trend is highly prevalent among millennials, who spend the majority of their time streaming videos online or downloading them rather than watching it on the television. Netflix and Amazon prime have typically become a mini-home theatre for the audience. Interestingly, technology isn’t the only factor that is driving the entertainment industry trends today, here are some of the other factors that are driving the growth and changes in the entertainment industry:
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