Entertainment is evolving from physically going to a concert or watching your favorite TV show once a week on a well-known cable channel. Instead, they are being replaced by options like live streaming, which have exploded onto the scene. Why? Because people want content wherever they are and they want it instantly.
September 2017, Netflix and non-network TV shows ended up making a significant impact on the Emmy Awards. Netflix garnered 91 Emmy nominations while Hulu entered into Emmy trivia by being the first streaming service to win an Emmy for Best Drama with the Handmaid’s Tale. These entities mean that a considerable effort is being placed on making content not only attractive to subscribers but also seeking acceptance from the entertainment industry. These new players are wielding substantial influence on the sector.
The change in traditional entertainment is being driven by novel ideas and methodologies that are becoming more acceptable. PricewaterhouseCooper’s (PwC) 2017 Global Entertainment and Media Outlook Forecast suggests that entertainment and media are plateauing and suggest that consumers are looking for something that stands out in the market. For example, Netflix and other non-network entities triumphantly garnered all the top Emmy Awards. Another area of change can be seen in eGaming entertainment offerings like the new Power Up game, which is becoming more engaging by introducing the elements of increasing power and additional energy to hitherto conventional tactical games. Interestingly, the innovations are blurring the lines between a “mind sport”, which is a competition with a set of rules for determining the winner, requiring intellectual prowess and skill with eSports that require physical prowess and skill to move a virtual person or object. At this point, content creators, advertisers, and consumers are looking for immersive experiences like virtual reality (VR) and augmented reality (AR). As a result of this confidence, major companies are committing huge sums into sponsorship, and by doing so are reaching an international audience as well as monetizing these games.
That’s why eSports, which is an umbrella term used for competitive computer gaming is generally enjoyed by enthusiastic fans supporting well-known, professional teams, is taking the world by storm. In fact, eSports has become equally popular as traditional sports like basketball, football, and cricket, which all have a devoted fan base. While millions are watching the action online, the actual stadiums are being filled because of related public interest.
The phenomenon known as eSports has also proven to be the best way to reach millennials. According to an Internet Trends report, men and women in the 21-35 age group are the primary viewers of eSports. In a report with findings from L.E.K. Consulting, it was revealed that 40% of millennials prefer watching eSports to traditional sports and that 26% of millennial eSports enthusiasts reported a significant increase in their own eSports viewing over the last year through online streaming for free on sites like Twitch. And since millennials want their content in a mobile format, it can be accessed via the smartphone or tablet as well as on the web. The ease of access continues to make this more attractive to millennials since of their attachments to their smartphones.
In 2016, the eSports industry was worth $463 million. What’s more is that it is projected to reach $1.1 billion in 2019. As a result, this socially driven disruption continues to amaze analysts.