What Is the Future of the Entertainment Industry

By: FAYLYNN VIDRIO

The impact of Covid-19 hit many companies in a drastic manner, but we’ve also seen them gradually rise back up, yet the entertainment industry has been awfully quiet lately. With no one to buy movie tickets, visit museums, admire art galleries, or go to concerts, it’s safe to say that the pandemic definitely did not leave the entertainment industry untouched.

What used to be popular may not be the go to choice anymore. Though going in person to the movies brought in profits, it isn’t quite an option anymore. Filming sets, concerts, movies, and other in person entertainment sites brought the most money to actors and musicians. However,  due to the pandemic, requesting these gatherings has become a problem on it’s own. In replacement to this, streaming has become a more popular option. Whether it’s streaming a new movie, a music festival, or OTT video revenue for media and entertainment. Many influencers have chosen digital concerts by using apps, such as Instagram Live, Tiktok, Youtube Premiers, and countless more social media platforms. Artists find using these applications a suitable temporary option to get back on track with their earnings.

Actors and artists are using new and creative ways to showcase their performances. According to Enrique Lozano Donate, Cofounder of Edmwarriors, “The way in which music is created, produced and edited is becoming an increasingly commercialized process, thus causing  one to acquire a song and all its rights at a single click. These changes are making it easier for people to be breakout stars even without the support of the traditional institutions of the E & M industry.” 

As these businesses open up a new window of entertainment, for instance with a simple tap on a screen at the comfort of one’s own home, there’s no going back. This can change the entertainment industry entirely by taking it towards a new direction. Companies will market these new ways of entertainment, promising their audience they can provide something others companies can’t. 

The future for the entertainment industry isn’t exactly clear, for it could change for the good or bad, or it could go back to its old ways when the pandemic is over. Although they haven’t given up, having adapted to their surroundings, figuring out new and efficient ways to continue their careers and their businesses. Even though this industry isn’t ‘essential’, such as a grocery store, shipping containers, or doctors, they strive to not get caught up in the storm of the pandemic’s chaos.

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