The Future of the Media and Entertainment Industry
In the last few years, the media and entertainment (M&E) sector began adopting the Internet of Things (IoT), causing a paradigm shift in the way things are done. Although the number of IoT devices is small and the technology is nascent, this trend of IoT in media and entertainment is expected to change soon, and the sector is set to benefit from it. IoT in Media and Entertainment industries, when combined with cloud platforms and big data analysis, provides a significant boost in the utilization of their machine and human resources. IoT (Internet of things), refers to an ecosystem of connected smart devices, environmental sensors, and other tools that track assets across different locations. Asset management solutions without IoT are subject to manual data collection errors and delays. It may also be hindered by issues such as poor maintenance, under-utilization, and reporting. This is due to insufficient data, poor asset utilization, theft, and a lack of awareness about real-time consumer demands. This allows for personalized content consumption and predicts overall media and entertainment consumption. As large-scale adoption of IoT technology rises, media companies will be presented with myriad growth opportunities. It is up to them to realize the potential role IoT will play in their growth, the key success factors, and the IoT domain they should operate in. What is the future of the media and entertainment (M&E) sector with adoption of the latest technological developments, including: IoT, 5G, and AI?