Quantzig, a global data analytics and advisory firm, that delivers actionable analytics solutions to resolve complex business problems has announced the completion of its latest article that lists the upcoming media and entertainment industry trends.
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Top Three Media and Entertainment Industry Trends (Graphic: Business Wire)
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Technology is massively transforming the media and entertainment industry by creating new opportunities and better revenue models. The media consumption pattern is changing rapidly, and the consumers now have the power to choose and build a personalized library, which wasn’t possible earlier. In a survey, it was noted that on an average a consumer subscribes to at least three online streaming platforms. By leveraging consumer usage data video streaming companies can provide recommendations or run targeted advertisements
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According to Quantzig’s advanced analytics experts, “Data analytics in media can be used to achieve several goals like increasing views and improving content quality.”
Three Top Media and Entertainment Industry Trends: 2020
Ever since consumerism has paved its way into the media and entertainment industry, it has been observed that the millennials are the most active age group to leverage this power. Following are the upcoming media and entertainment industry trends of 2020:
- Ad-supported video: Many of the consumers prefer advertisement-free content. Ad-supported video is already delivering unmatched service across the Asia-Pacific region and it is one of the most dominant models of delivering online video streaming services. It comes with subscription-based services which, in turn, helps the company to generate a part of the revenue from the viewers.
- The rise of online streaming platforms: Online streaming companies are targeting fans using demographic data. Businesses are also witnessing a growing trend towards the use of user engagement data that gives a new definition to fan-club theory.
- The emergence of new data models & advanced algorithms: Data analytics in media is giving rise to a popular trend that revolves around the personalization of services. Most of the online streaming sites now use recommendation algorithms for every customer.
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Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal