Three Key Trends in the Online Entertainment Sector

Globally, the online entertainment sector creates a significant revenue stream. It’s estimated that this sector was valued at $268 billion in 2021 and is expected to reach a total value of $1490 billion by the end of the decade. Put simply, this form of online business is growing at a rapid rate and is predicted to continue its expansion in the near future.

It’s interesting to note that while many forms of business struggled during the recent COVID-19 pandemic (especially the customer-facing retail and hospitality sectors that relied on physical premises), online entertainment enjoyed impressive growth. This was largely because millions of people were confined indoors during lockdowns and movement restrictions. They needed to find indoor forms of entertainment, and the on-demand nature of film and music streaming services, online casinos, and other forms of entertainment were a natural choice. In this article, three key trends that are present in the online entertainment sector will be discussed.

1.   The use of AI in online entertainment

Artificial intelligence (AI) now plays a crucial role in the online entertainment sector. Many consumers will have experienced this technology when using a film streaming service such as Netflix. After viewing TV shows and movies, consumers are asked to rate them. This allows advanced AI algorithms to make suggestions on the next titles they’ll enjoy watching.

However, AI isn’t limited to creating curated viewing suggestions, it can even be used to generate movie and TV scripts that are likely to resonate with online viewers. At present, human scriptwriters are still needed to fine-tune the scripts, but AI acts as a starting point to help with planning and enhancing the screenwriting process.

2.   Online casinos remain popular post-COVID

As previously mentioned, online casinos enjoyed impressive growth during the recent pandemic. During this period, adults could search online, using terms such as Aussie online casino, to find details of professionally run online establishments where they could enjoy a range of high-quality card games and slot machines.

Even after the worst effects of the virus have passed, these sites still enjoy large visitor numbers, and the sector continues to grow. The main reasons for this ongoing growth typically relate to accessibility and attractive bonuses/rewards for players. Online casinos can be accessed in a matter of minutes, with little more than a smartphone and an internet connection. This makes them incredibly accessible and provides gaming adults with an experience that’s close to a high-class brick-and-mortar establishment. In addition, the welcome bonuses (such as matched deposits and free spins on slot machines) are extremely attractive to new players and aren’t typically replicated at physical venues.

3.   e-sports continue to grow

Finally, the market for e-sports continues to grow at a rapid pace. In 2022 the market was valued at $1.88 billion, and is expected to grow at a CAGR of 26.8% from 2023 to 2030. This impressive level of growth can’t be matched in many other industries.

As streaming platforms such as Twitch and YouTube increasingly cater to e-sports, watching pro teams play your favorite games becomes easier and more accessible. Many gaming titles also reward their players for watching live streams of tournaments, further increasing the viewer counts.