The entertainment industry is at a turning point because of the digital and internet revolutions. The startups in this industry are not only disrupting the traditional entertainment but also making our lives more entertaining and personalized.
Startups in the digital entertainment industry are redefining how we experience and consume video, music, books, games, and other forms of entertainment. Take Netflix for example — it has redefined how we view movies and TV shows. It has made binge watching a thing with its original series like Stranger Things or House of Cards. In terms of music streaming services, Spotify is just one startup that has taken over from iTunes as the go-to place to store your favorite songs on your phone or computer.
The internet revolution brought about a lot of change to our lives – from what we do for work to what our homes feel like, automation is being applied in more and more areas of our lives.
How Startups are Changing the Digital Entertainment Game
In the next 5 years, digital entertainment will be revolutionized and we will see a number of new startups emerging. They will make changes in how we consume and create content, what platform we use to consume it and how we interface with other people while consuming content.
Startups are not just looking to disrupt the way we work. They are also looking to disrupt the way we play.
There are many startups that are disrupting the game industry by providing free games, games without in-app purchases, and even VR games.
A company called Psyonix is an example of a startup that is changing the game with their video game, Rocket League – they make video games for gamers by gamers.
How Indian Startups are shaping digital entertainment revolution?
India has emerged as the third-largest startup hub in the world after US and China. As cheap data prices help to accelerate the country’s digital economy, e-commerce giants like Flipkart and Snapdeal are expanding their businesses to include entertainment, telecom operators like Reliance Jio are entering into the content creation space, and startups like BookMyShow are promoting digital ticketing. The startup industry is also flourishing in India. As per the Indian Government Statistics:
- 1) Number of startups recognized by DPIIT goes up to Fifty Thousand
- 2) Last 10,000 startups added in just 180 days
- 3) Recognized startups have now spread across 623 districts
- 4) About 1.7 lakh jobs created by recognized startups in 2020-2021
- 5) Startup India- reaching new heights, making India a global leader in Innovation
India is the second largest producer of movies in the world, and with this digital revolution, more and more people are watching movies online.
Digital Entertainment Startup from India, an example of one of the many startups in the field that is making waves and has a bright future ahead is Arria.making waves and has a bright future ahead is Arria, a data-driven hedge fund for crypto investing.
In Asia there are startups like Zupee is a skill-based gaming app that offers rewarding gameplay, social competition, and in-game rewards that enables its users to play against each-other live. Another interesting startup in the space is WinZO is a mobile e-sports social gaming platform that offers monetary benefits and prizes to players. Then there is HalaPlay Technologies is a daily fantasy sports platform.
The Rise of Mobile Gaming
Mobile gaming has been on the rise since the first iPhone came out. Nowadays, mobile games are a notable part of the gaming industry and seem to be getting bigger every day. There are many different types of mobile games that people play.
Blockchain Fails to Disrupt Digital Entertainment
Blockchain is becoming more mainstream, especially with it playing a pivotal role in the digital currency Bitcoin. However, it has not been able to disrupt the digital entertainment industry in the same way.
Blockchain’s decentralized network is what gives it this potential to disrupt industries and governments alike. But for now, its lack of scalability and regulatory uncertainty are holding it back from doing so.
As seen in this section on Blockchain Fails to Disrupt Digital Entertainment, blockchain technology has not impacted digital entertainment yet because of scalability issues and regulatory uncertainty.
Digital Content for Brands is Disrupted by Marketers Everyday
Digital content marketing is becoming an increasingly important aspect of marketing in the digital age. The rise of social media, mobile usage, and other technological innovations have changed the way that brands interact with their customers.
The impact of social media on digital content marketing cannot be underestimated. Social media has given brands a new outlet to reach their customers 24 hours a day, seven days a week. Social networks are constantly evolving and marketers are adjusting to make sure they are still able to stay relevant to their customers.
Digital content is often very short-lived, but this does not mean it can’t be effective or valuable for your brand. Brands should use each post as an opportunity to engage with customers on a more personal level by responding to comments or creating hashtags that are trending in order to spark conversation.
Digital Entertainment in 2021 and beyond
Years ago, people would gather around the television and watch their favorite shows. Today, we can stream the show we want to watch on our laptop or phone while we work or cook dinner. Streaming services like Netflix and Hulu have cut through the clutter of how we get our entertainment and changed how people consume content in their homes.
These digital entertainment platforms are also disrupting traditional TV markets like HBO and Showtime by offering new shows for a monthly subscription fee rather than an expensive cable subscription that includes dozens of channels that viewers don’t need. With more people consuming digital entertainment, this has opened up new opportunities for startups to take over these markets with innovative products and business models.
Startups are disrupting digital entertainment in 2021 and beyond by creating niche-specific streaming services that offer high-quality content with a low price.
