It doesn’t matter where you live in the world; the COVID-19 pandemic has affected you somehow. The media industry resulted in a massive digital entertainment boom that forced some companies to change their business operation. The main question is whether this rise in online services will continue to grow or steadily die back down?
Lucas Goldberg is the featured author here, sharing his experience from the heart of Canada. The article takes a detailed look at how the entertainment industry has grown and why we believe the boom is here to stay. We also study how it’s affected the gambling industry and online operators such as Royal Panda Casino Canada.
Here are our thoughts on the top 5 media and entertainment industry trends in 2020 that support our theory of continued growth:
- Live Streaming
- Gambling
- Video Games
- Mobile Entertainment
- Innovative Technology
Live Streaming
With so many people housebound during the peak of the pandemic, Canadians quickly turned to online websites for the best in visual entertainment. Whether it’s for movies, music, or game shows, families spent their free time binge-watching shows or playlisting their favourite tunes. Increasing internet speed for HD quality streaming became essential.
The forecast for Netflix viewers in Canada rose to an all-time high of 16.5 million by the end of this year. It was a strange turn of events, as many expected Disney and Apple to threaten Netflix’s dominance at the start of 2020. However, the closest competition for Canadian streaming is Amazon Prime Video, at a significantly lower 6.5 million viewers.
Gambling
Online gambling has also seen a variety of changes this year. The first event that knocked gamblers off their feet was the cancellation of sports events. Sportsbooks everywhere struggled to keep members active, sports betting almost coming to a standstill.
We also saw the suspension of land-based gambling in Canada, which shifted the focus to online betting.
How did they keep their business alive? We saw bookies introduce casino games to their website offering, as well as an increase in esports and virtual betting. Slot and table software providers worked hard to bring new titles, including sports themes, for the devastated punters.
While sports betting is kicking back into full gear, we suspect that the new wave of online Canadian gamblers will continue to grow over the next year.
Video Games
Gamers have been part of the online entertainment industry for several years now. Online multiplayer gaming has been a smash hit, the lead genres, including battle royales and sports simulators. Video games have also experienced a digital entertainment boom, the developer’s team members working remotely worldwide.
It wasn’t all fun and frivolity, though. When the pandemic first broke out, developers struggled with establishing the finer details of working from home. However, video game companies quickly found solutions when they realized how these items were rising in sales.
Even old forgotten titles received new life as players discovered them searching for games during the lockdown and social distancing.
Digital Events
Many people expected the rest of this year to have a devastating effect on the media and entertainment industry. Writers and readers could no longer meet at the library for their book clubs, art students couldn’t attend their classes, and budding music bands had to abandon the garage or basement for their jam sessions.
Software that created the perfect platforms for events and meetings arrived to save the day. While hosts cancelled SEO and digital marketing sessions, they shifted to the online arena with programs such as Zoom and Skype. If anything, this year has taught us how we can continue living through online media.
Innovative Technology
The future of the entertainment industry remains in the hands of innovative technology. Through the examples above, we’ve seen how new platforms and ways of thinking have created solutions to a problem that seemed insurmountable. It’s propelled us forward, and we believe that the current boom is here to stay.
A prime example is virtual reality. We’ve seen discussions before introducing VR to casinos, and it’s been available for movies and video games for a few years now. We see expedited development of this kind of tech and the introduction of augmented and mixed reality devices.
Final Words
None of the above digital trends reflects a situation where the entertainment boom will be coming to a standstill anytime soon. We encourage you to keep an eye on the industry, as we expect it to grow even further.