5 Trends Shaping the Entertainment Industry in 2020

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Over the last few decades, the entertainment world has been the most happening ecosystem out there. Every year, new entertainment options are being introduced and it doesn’t look like this will change in the future. Just like there are new trends in business, there are plenty of new entertainment trends emerging all the time. With that said, let’s take a look at five trends that are bound to shape the entertainment industry in 2020.

Video streaming services continuing to grow

The days of having to tune in live or buy discs are long gone and you can now watch your favorite shows and movies whenever you want. Right now, video comprises over two-thirds of the total revenue for streaming services and this trend is going to continue in 2020. Not only that the original big three (Netflix, Amazon, and Hulu) will grow, but we’ll also get a chance to see new subscription streaming services debuting in the next twelve months. Of course, we’re talking about Apple TV+, Disney+, and HBO Max, all of which are expected to gain a lot of attention in 2020. It’s anticipated that the number of video products available to the users will double, taking the world of video streaming services to the next level.

4K beginning to get big

Experts expect 4K UHD TVs to make up almost half of new television sets sold in 2020. This is 10 percent more than last year and it shows that the entire world is slowly moving towards 4K technology. One of the biggest reasons why people opt for this tech is that most streaming services offer 4K content. Moreover, gaming consoles manufactured by companies such as Sony and Microsoft also offer 4K content and most users want TVs that can help them make the most of it. This isn’t good news for pay TV providers who are now under pressure to create 4K content as well or risk getting left behind. It’s also important to mention that the average 4K TV unit price is going down and more people will be able to introduce this tech into their homes.

iGaming experience improving

As we’re constantly moving towards technology, brick-and-mortar casinos are being replaced by web-based casinos. The iGaming industry proved to be a real goldmine in the last couple of years which is why in 2020, operators will look to deliver an even better experience to their players. With cryptocurrencies getting bigger, online casinos will allow players to use these digital currencies when making deposits, making it possible to spin slots and play other games without using any sensitive information. Moreover, they’ll make new casino games of all types available to the players. Another huge things about iGaming in 2020 is that we might get to see even more bonuses such as welcome and loyalty bonuses becoming available.

eSports gaining even more attention

Not so long ago, we all believed video games and sports don’t have much in common. However, things have changed a lot and not so long ago, eSports have become a thing. Not only that, but eSports is advancing at a rapid pace and experts predict it’ll do even better in 2020. Global interest in eSports is growing explosively which is exactly why we can expect to see a lot of innovations being introduced. Mobile eSports will get even bigger in 2020, especially in markets such as Southeast Asia, Brazil, and India. On top of this, more cities will leverage eSports as a tourist attraction, resulting in bigger and better events being hosted. Just take a look at League of Legends LEC finals, which contributed over $2.6 million to Rotterdam’s economy in just two days.

5G finally landing

Long promised, 5G is finally about to arrive and there’s no doubt it’ll affect everything from in-home internet to entertainment. 5G download speeds will do wonders for mobile users, especially those who want to engage in 4K UHD content on their devices. Another thing 5G will boost is virtual reality (VR). Download lag times will vanish, taking VR games to the next level. Of course, this could also result in some new problems headset manufacturers will have to deal with. For example, new headsets will need better battery life and improved performance. With VR finally about to realize its potential, we can expect all new kinds of headsets to be released to go with 5G.

The bottom line

The growth of the internet has had a huge impact on the entertainment industry over the years and there’s no doubt this will also be the case in 2020. We’re right in the middle of the entertainment revolution and it’s no surprise there are new trends emerging all the time. Keep a close eye on each of the trends covered in this post as they’re bound to make a lot of noise in the next twelve months.

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