It’s fair to say online entertainment has come a long way in the past 20 years, but what does the future look like? Only two decades ago, to watch a movie, we would have to drive to our local Blockbuster to rent one, but now, with streaming, everything is at our fingertips.
The same could be said for gaming. Nowadays, playing games on smartphones is the most popular way to play. Compared to 20 years ago, it was computers or game consoles such as Playstation, Xbox, and Nintendo.
The entertainment industry is constantly evolving and is currently the most popular it has ever been. In fact, it’s estimated the space will be worth $31.23bn in 2023, according to Statista, and is expected to grow year on year going forward.
In this article, we look at the future trends that the entertainment is looking to exploit.
Virtual Reality
Virtual reality or VR is the most exciting trend in the entertainment industry going forward. Already, many companies are setting their sights on this technology such as Meta and Apple.
Gaming looks to be the first way how virtual reality will penetrate the mainstream, even the CEO of Meta, Mark Zuckerberg has set his sights on it in his keynote speech in 2022. In the future, gamers will wear a VR device such as an Oculus Rift to play all their favorite games in a much more immersive way.
Granted, certain game types will be much better than others. For instance, racing games with a steering wheel, pedals and a VR headset will feel incredibly realistic. Players can choose between racing at Le Mans or getting in the cockpit of their favorite F1 car.
Moreover, online casino games will negate the need to visit a real-life casino. With a VR headset, you’ll be able to enjoy table games such as online roulette and socialize with others while playing. You will also be able to claim bonuses just like today and have access to thousands of games.
Cloud Gaming
The major trend going forward in the gaming industry is the concept of cloud gaming. Other industries have executed it brilliantly such as Netflix with TV and movies and numerous OTT platforms offering live sports.
However, because of the size of video games, cloud storage is an issue. In addition, the internet speed is integral to a first-class experience. Nevertheless, a major pioneer in cloud gaming is Google, with its Stadia console. All games are streamed directly, without the need to download.
Yet, the graphics and gameplay are nowhere near as sophisticated as PS5 or PC games. But, with NVIDIA and AMD constantly pushing the edge of innovation, a graphics card to support cloud gaming in the next few years is not too far-fetched of an idea.
Cryptocurrency/Blockchain
As the cryptocurrency industry penetrates the mainstream, expect it to make big gains in the entertainment space. Gaming is the obvious entry point because of in-game currencies, but other big companies like Disney and FIFA are currently experimenting with blockchain technology and its use cases.
Sites like YouTube will most likely have a massive shake-up with the introduction of cryptocurrency. Content creators will be able to be paid directly without the need for third parties payment processors such as Stripe.
In the distant future, we may see live digital events for the first time like a Taylor Swift concert. Blockchain could become the backbone technology as it could create tamper-proof ticket technology, which in turn, decreases fraud.
Artificial Intelligence
Artificial intelligence or AI is the hottest trend currently and is anticipated to take over every industry as the internet did at the turn of the century. Tech companies are already using the technology to create scripts, videos, and images, all of which will eventually consume the entertainment industry.
Moreover, AI is also being used in algorithms for content recommendations on all the major platforms such as Facebook, YouTube, TikTok, Instagram, and Spotify. Overall, this will provide users with a superior feed or library, totally tailored to them.
In the summer of 2023, the Hollywood writers’ strike was the first real indication of what AI would do to the industry. As things move forward, we may see complete AI movies, from writing the script to the whole production, especially with animated films.
Conclusion
It’s an exciting time to see what will happen to the future of the entertainment industry. Overall, entertainment has never been in so much demand, but with future trends, it will be interesting to see how it changes.
Most likely, AI will be the first of these trends to revolutionize everything and from there, who knows? No matter what, the experience for the end user is only going to get better.
