Technology and its Effects
I
remember when I was younger and I wanted to see a movie that was in theaters,
if my parents decided not to take me it would take almost a year before the
movie was available in stores so that it could be purchased and viewed at home.
With all of the recent changes that have been occurring with technology in the
entertainment industry a movie is available to be viewed outside of the movie
theater the day that it drops in theaters. This is not only allowing people to
get movies on demand, but it is also hurting the entertainment industry
profits.
Today I
will be discussing the impacts and changes that technology has made on the
entertainment community. Recently there was an article written about how
technology is destroying the entertainment industry. The changes that are
occurring are not just effecting the visual media portion of entertainment, but
the music industry also. The visual media side of entertainment has went
through many changes, from VHS to DVD’s to streaming/on-demand viewing. Every
time one of these technological changes occur it creates a change in the way
the funds come in and go out of the industry.
Netflix
was the first to recognize how these changes would effect business and found
ways to capitalize on the changes before their company took any drastic hits.
Netflix’s started off as a DVD mail order company and in the mid 2000’s went to
online streaming, right at a time when online streaming was becoming the next
big boom. Netflix is now one of the many companies starting to take part in the
trends of online/web-series.
The
music industry is also seeing the same changes and effects being caused by
technology. It used to be that the artist would go into the studios and record
albums or singles that they would then go to the record companies to have
produced and distributed through retail outlets. Now with the changes that are
occurring artist first turned to digital downloads as a way to keep up with
sells and now sites such as Youtube.com, Spotify, and many others are allowing
consumers to download whole albums at little to no cost and before it actually
hits the store.
So the
question is, with the constant changes that are occurring in technology what
will be the next big change to affect the entertainment industry, and how much
of an impact will it have on profits?
http://thenextweb.com/insider/2013/09/19/adam-leipzig/#!pgPR8
In my personal opinion, Netflix hit a gold mine when they created their online movie empire. Technology is influencing so many aspects of the entertainment industry! From iTunes offering digital downloads as opposed to actual album sales, to the rise in technologically advance software programs impacting the quality of movies. It will be very exciting to see what the next generation of technology can provide for us. Water proof phones, watches that serve as cell phones, and cars that are solar powered are just a few that still blow my mind! Great points on comparing the old to the new, thanks for the post!
ReplyDeleteHi Shalana,
ReplyDeleteI too remember the days when we had to wait forever to purchase a movie that was in the theatres. Technology has really changed the landscape dramatically. It has also been a two-sided sword, as piracy has cause great financial loses to the entire entertainment industry. On the other hand digital technology has afforded us instant gratification. With just the click of a mouse we can legally download media content to enjoy in our home.
Great read, and insight on Netflix.
Best regards,
Carl