A new report by research group EMEA has found that many of the internet’s biggest players are looking to the future of the entertainment business.
Key points:The EMEa report, which looks at all content, content delivery networks and technology companies in the digital entertainment industry, has found an increasing number of companies are looking at a new digital business modelEighty per cent of the companies surveyed said they have already shifted from a traditional TV and film business model to one of digital, digital video, digital audio and digital musicThe report, released today, looks at the changing nature of the digital industry and the impact of new technology.
It says the trend is expected to continue and companies are seeing the value of the businesses they currently own, rather than how much they make, coming to the fore.
The report finds the rise of digital video streaming, the growth of subscription services and the rise in internet-based video streaming services are leading to a number of new opportunities in the entertainment industry.
It found that there is growing interest in digital video content as well as in online and mobile video services.
And in some industries, it says there is a growing appetite for digital audio content.
“As the digital video industry has emerged as a major market in recent years, a number the entertainment and media industries have been slow to adapt to, there has been a significant rise in interest in the emerging digital audio industry, with the majority of the industry stakeholders reporting strong interest in this sector,” the report says.
“The digital audio sector has emerged from the emerging video and audio video industries as a growing and dynamic market in which the digital audio industries and their partners are well positioned to gain competitive advantage.”
It found companies are increasingly looking at the future and are looking for ways to increase their value.
For example, the industry is also investing in content creation and promotion, a trend that is expected the industry to continue.
“Digital audio, music and video are all growing rapidly and these are all sectors where there is substantial demand for new businesses to be formed to take advantage of the new opportunities,” the EMEam report says, adding that these are the areas where digital video will be most competitive.
“At present, it is not clear whether there is enough of a demand for digital video and entertainment businesses to support the continued growth of these sectors.”
The report also found that the internet and technology sector is still struggling to find its footing.
“A large number of participants surveyed in this report report on the industry expect their business model will change and will look to change their business models as the digital content landscape evolves,” it says.
It points out that the industry has grown quickly, and it is “not clear” what that will mean for the future.
“However, the companies we surveyed have not identified a specific shift in the industry’s business model in the short-term, with some participants predicting a significant shift in their business strategies by 2021,” it said.
The study also found there is also a growing desire for a more sustainable business model, with participants seeing that there will be more digital video options for consumers and a shift in focus from content to technology.
“Many participants anticipate that the digital music and media businesses will see greater opportunities for new revenue streams to support future growth in their businesses as technology continues to grow and new content is added to their services,” it concludes.
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