The Entertainment industry is full of opportunities. It holds a huge potential for app developers who are willing to push boundaries and try to come up with new solutions to old problems. This traditionally cool and hip industry has come to love and appreciate innovative solutions, especially when it comes to matters tech.
We turn to our favorite sources of entertainment whenever we need to relax or unwind. Mobile applications have made accessing these sources of entertainment way easier and more convenient for everyone. You no longer have to the video store to rent a movie. All you have to do today is open an app and select the movie you want and start watching. For free!
The entertainment industry as we know it is all about numbers. The level of success of a product is determined by the size of the audience. Quality of content and engagement also goes a long way to boost the revenue streams of a song, movie or show. It used to be quite expensive to convince people to come and watch your film or listen to your song. The marketing and promotion of shows was and still is, a multi-million dollar business. However, this is slowly changing. The costs associated with getting a product seen have significantly reduced. Today, simply placing a trailer video on youtube could alert millions of people about your forthcoming movie, and if it goes viral, you have won yourself an instant audience of millions. If you want your picture to be seen, all you have to do is place it on Reddit, and an audience of millions will be commenting on it in no time at all.
Mobile apps have the potential of changing everything we know about the Entertainment industry. Innovative apps have revolutionalized this industry before, and continue to do so even today.
Here are a few innovative apps in the entertainment industry:
Netflix is a streaming app for all your favorite movies and TV shows. With a nearly endless list of shows for your entertainment, it is really hard for most people to remember what their lives were before Netflix. With the Netflix app, you can queue your favorite shows on your device and binge watch them endlessly on any device you have. The advent of Netflix has completely changed the TV entertainment landscape. No one watches regular TV anymore. Today, Netflix is the 10th largest company by revenue in the world.
Spotify has changed the way the world listens to music. Using the app, you can listen to all the music you like and even save them to your phone with their premium feature. It has a user base of over 24 million active users, and the numbers are growing every day.
This app allows users to upload funny content and to comment on and react to other uploaded videos, Gifs, and pictures. It has over 10 million downloads on the Google App Store.
With over 1400 revolutionary and high quality inspiring videos, TED has positioned itself as the world’s leading provider of wholesome entertainment. It offers a platform for anyone wishing to impart the life lessons they have garnered on others.
These are just a few examples of major apps that are transforming how entertainment is consumed by people.
Similarities between innovative apps:
- They have created a new platform for some content types that did not exist. For example, 9GAG has created a platform where people share Gifs predominantly, which was almost non-existent.
- They have created an avenue through which trends can be tracked. For example, a look at the most played songs on Spotify will reveal what society likes at a certain point in time. This data can be analyzed and used to make business decisions or to create more content that will cater to the trends.
- They are a revolutionary new Promotion Medium. Mobile ads placed on such apps will generate a tonne of revenue. Similarly, being a speaker on a platform like TED will not only get you respect from your industry but also immensely boost your business.
- They have created new ways through which we access content. For instance, free content flow was almost non-existent when TV and radio ruled the information space. People had to consume what was availed to them, or opt not to consume at all. Today, you can watch what you want, whenever you want. You can also access virtually any piece of information you want from the web.
- They have introduced new industry spaces. The gaming industry and the music industry have especially benefited from these mobile apps. Mobile gaming, for instance, was almost a non-existent industry just a few short years ago. Today, it is a multi-billion dollar industry.
- There is more user engagement today. These apps have provided platforms through which people can express themselves. Good design UX has led to a massive increase in user engagement. This user engagement has, in turn, led to the development of even better innovative apps.
- They have changed how we spread and gather information. Today, Twitter, Facebook, and Instagram have almost replaced media houses as sources of information. You can get relatively detailed information on any subject under the sun (or beyond) from these apps.
- In these and many more ways, innovative apps have changed almost everything we thought we knew about the entertainment industry. Plus, new innovations and discoveries are constantly being made every day to supplement what we already have, so the only way to go from here is up.
What Future Can We Expect In The Entertainment Industry?
Entertainment is becoming more and more personalized. From personal playlists to a personalized list of content you like, apps are increasingly catering to individual tastes. This personalization is delivered to you right on your phone. This trend is only going to continue, with more and more companies investing heavily in developing their own mobile apps.
Innovative Apps in the entertainment industry are still developing, and this space is in its infancy. There are endless possibilities, from music to gaming and movies. This space has been projected to grow even more rapidly in coming years. Early entrants into the entertainment app space stand to gain the most in the coming developments. For instance, with the growing popularity of new technological advancements like augmented reality, virtual reality and the Internet of Things, entertainment apps stand to become a multi-billion or even a trillion dollar industry. New devices are constantly being introduced to cater to the changing industry landscape, and these offer even more opportunities for the app development company that has the foresight to get into this space early.
The entertainment industry is versatile and volatile. Things change every day. A leading app in this space can easily be replaced almost entirely within just a few weeks. This is wonderful news for the bold innovator. If you have an innovative mobile app idea that you really believe in, who knows, you might be the next industry leader. You’ll never know unless you try it out. As the saying goes, if you take the leap, you might fail, but if you never try, you have already failed. Do the world a favor and give your app idea a chance.