In this article we will talk about transforming the entertainment industry in these pandemic using big data. Surely you will have a completely different view after reading our article.
Right now, as you read this article, billions of people are sitting at home with no access to cinema halls or restaurants, and only the internet for their source of entertainment. This sudden shift has created a massive impact on all sorts of businesses including the entertainment industry. As filmmaking came to a screeching halt but consumer demand remained ever-present, over-the-top (OTT) media services witnessed a sudden surge in demand that was not foreseen by any of the players.
While the past few weeks have obviously benefitted all OTTs, but it also gave rise to questions like will the OTTs continue to enjoy the same growth as the lockdowns ease across the globe?
Currently, giants like Netflix have witnessed an uptick in their subscriber count and their shares went up by 35% in the first quarter of 2020. We also saw rising popularity in home-grown content (John Krasinski’s Some Good News comes to mind), during these uncertain times. Quibi, a bite-sized content platform, finished its latest round of funding in March 2020. It has shown of 10-minute episodes with many big stars and titles.
However, with a plethora of OTT players rising to this unanticipated golden opportunity, customers are spoilt for choice more than ever. The quality of experience that OTT players provide during this phase may also define their future once the lockdowns completely phase out. In such a scenario, we know what they can use to maintain this success prolong: Big Data.
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