In the world of entertainment, the prevailing trends are constantly changing. So if you want to stay ahead of the competition tomorrow, you must keep up to date with what's hot today.
There is a lot that is new and exciting in entertainment. This guide provides a breakdown of the top 7 trends for 2023 to give you the latest information and an up-to-date list of actions to get the new year off to a good start.
The industry, which suffered a sales decline due to the pandemic, is set to rebound strongly and grow by more than a quarter by 2025, according to a new report by global consulting firm PwC.
In 2050, we are likely to demand that our entertainment is not just on screen but that we interact with it via virtual reality. For example, imagine a video game about the First World War: You and your friends will have the opportunity to jump up from the couch and storm the beaches of Normandy with everyone else.
List of the most important trends
1. Short videos
Video is king in today's digital world. Each user now watches an average of 19 hours of video content per week. But video is a trend that has been around for a while – most marketers already know how important it is.
Video is the most critical channel for B2B marketing, and the latest trend is short videos. TikTok, Instagram reels and YouTube shorts are now among the most popular mediums for brands as consumers' attention spans get shorter and shorter. As a result, short videos account for 80% of all mobile traffic.
Short-form videos are also beneficial for your brand. You can produce more content in less time – and viewers are more likely to engage with a shorter video that gets straight to the point.
In 2023, brands will have to limit their video content to 10 minutes or less. And 10 minutes is still pretty long, so you should take a cue from TikTok and limit your videos to less than a minute. But, of course, you can always shoot a longer video and break it into short snippets to save time.
2. Cloud gaming as a mainstream
In the gaming industry, many major entertainment trends are happening right now.
In November 2020, the Xbox Series X and the PlayStation 5 were released. In addition, virtual reality and augmented reality technology are now on the rise.
There are over 3 billion gamers worldwide. And only some of them have the hardware to play the latest and most demanding games. Cloud gaming solves this problem by streaming video game content from remote servers to your device.
This way, your computer (phone or smart TV) no longer has to do the heavy lifting. Key offerings include Nvidia's GeForce Now, Google's Stadia, Sony's PlayStation Now and Xbox's Project xCloud (now integrated with Game Pass).
3. Content personalisation
Multitude factors influence consumer habits and sentiments at different times of the day. Therefore, recommendations for users should appear in a clean, seamless user interface. The challenge for businesses is to gain and maintain users' trust and convince them to seek information without bias. However, their preferences can change rapidly.
That is why referral systems should encourage discovering new content to enrich customers' cultural lives. For example, a person looking for an educational video on demand might be interested in different informative content such as history, technology, literature or science. Some examples of personalised content are gamification, interactive quizzes, map apps based on GPS, targeted social media advertising and emails.
4. Focus on mental healthiness
Psychological health is just as essential as physical health, which is why developing mental health apps is so trendy. Numerous tools help control depression, manage anxiety, anger and so on, for example, MindShift, Just a Thought, IMoodJournal, eMoods, and notOK.
If your business can be easily oriented towards the mental health theme, you'd better do so.
5. Podcasting is becoming an established medium
Interest in searching online for the Wondery podcast network has increased 247% in 5 years. In 2022, about 144 million people listened to podcasts at least once a month. And that's in the US alone. In 2023, that number is estimated to grow to 164 million listeners. New amateur podcasts are created every day. There are now over 2 million active podcasts. But the industry is also becoming more professional. So podcasting is turning from a hobby into an actual business model. Brand podcasts prove that the format can work just as well as a marketing tool as an entertainment medium. And the podcast networks are aggressively buying and developing new series. Some of these relate to current events and popular television shows.
6. More streaming services appear
One of the recent trends in the media industry has seen an upsurge since the introduction of global blocking. As a result, users felt compelled to access various premium-quality video content during this time. This need has led to a decline in pay-TV subscriptions in the US, but an increase in overall digital video consumption.
Over-the-top technology has solved this problem by offering many choices. OTT platforms include Hulu, Netflix, Amazon Prime and others. They all provide the cross-platform compatibility that most modern consumers need. After all, viewers today prefer to use multiple platforms and devices to watch video. The streaming war is another result.
D2C stands for direct-to-consumer marketing, and this strategy means that a company markets and sells products and services directly to its customers. It allows you to regain control of the producer's marketing efforts and distribution strategies.
Video streaming (SVoD) revenues are expected to exceed $139 billion annually by 2027. So it's no surprise that many media companies want a piece of the pie. Paid over-the-top (OTT) streaming platforms have been popping up left and right to compete with established providers like Netflix, Hulu and Amazon Prime Video. Quibi crashed and burned with its short-film offering. But the idea of a clearly defined niche has stood the test of time in the streaming world.
7. Data, AI, automation and the metaverse
This is one of the biggest – and most daunting – content trends for 2023. Your content is unlikely to change from year to year, but the technology available to create it is evolving rapidly. Technology allows you to collect vast data that can help you hyper-personalise content and get more results. Artificial intelligence (AI) can be used to create or add to existing content, allowing brands to create more material in less time. AI needs to be better at writing all your original content, but it can help marketers create more content in less time.
Automation is also a smart way to streamline certain aspects of content production. With simple setups like IFTTT or Zapier, you can move tasks around in your project management software, automatically generate video subtitles and more. In addition, automation software, such as EasyWeek, can help your business automate all routine processes and create a personalised customer service experience.
Although it's early days, many other new technologies can enhance your content. AR, VR and the Metaverse are currently only viable for large companies, but it's good to plan for these platforms as they become more accessible.
The entertainment industry is increasingly shifting from the living room to our pockets.
Companies adapting to this shift in where and how consumers are entertained will strengthen their influence in the media space. Technology and consumer expectations may change, but 2023 will still be a banner year for entertainment. So brands should refocus on connecting the digital experience with people. And if you decide to open a business in the entertainment industry, EasyWeek software will help you automate all processes and book appointments online! Try it for free now!