NIT in the entertainment industry
The entertainment industry is one of the most sophisticated enterprises. This aspect is associated with the various products and services produced, making it require different information technology drives to ensure that the product reaches a broader audience, making it more profitable. The nature of business and types of products in the industry also plays a significant role in the new information technology requirements as the products vary in terms of size, mode of transmission, differentiation, and the audience. Thus, the different needs of the various products require additional information technology drives to ensure that the products are profitable and reach the targeted audience most conveniently. In this case, a critical examination needs to be undertaken on the different products such as movies, music, gaming, live events, news and media publication in the entertainment industry, and how the NIT is enhancing the industry’s future.
Over the years, the emergence of the internet has dramatically changed how the entertainment industry used to undertake its business. This is because the transfer of products and services was mainly traditional and required a more significant supply chain to ensure that the products and services reach the audience most conveniently (Andal-Ancion, Cartwright & Yip, 34). The internet shortened the supply chain network and enhanced the market for the different products as individuals from other parts of the world could access them in the easiest, in higher quality, and within the shortest period. The NIT enhances aspects such as customizability, electronic deliverability, real-time interface, and standardization benefits. Also, reduced the search costs of the products and services (Andal-Ancion, Cartwright & Yip, 38). Due to this reason, the NIT brought the products closer to the audience and enhanced the variety, increasing their entertainment experience. Such drives made it easy for the providers of the various services to lower the costs of organizing as they did not have to plan for the events such as theatre performances, concerts, setting up gaming booths and physical transportation of print media to different places. The NIT enabled easy access to the other products and enhanced the audience’s entertainment experiences, although it led to the development of some challenges to the entertainment providers.
The NIT made products such as music available through platforms such as YouTube, where individuals could watch and listen to unlimited music and watch other staff online. This innovation and other artificial Emotional Intelligence technologies are associated with increased and endless opportunities and various ethical implications (Schwartz, Alexandra). Due to this reason, the different entertainment producers are required to be very keen on choosing the technologies to adopt to enhance their profitability as they put the ethical aspects of the check. This is because; the advancement of technology is associated with different disruptions in the production and consumption of entertainment. Platforms such as Netflix are related to significant disruptions on the media and the entertainment industry. According to Schwartz, Netflix has not only changed the way viewers consume television, but also the way it is made. The platform produces original television shows launched in full seasons and not the traditional form of one episode per week. This aspect has significantly changed the way television shows are produced and distributed. Through such elements, the platform can analyze how different shows are watched, making it easy for them to obtain useful data on the kind of content the additional subscribers prefer.
The continuous advancement in technology implies significant changes in the entertainment industry at large. This aspect suggests the development of significant industry trends, which will take the industry to another level (Sigismondi, 94). One of the most anticipated trends in the entertainment industry in the future is the enhancement of virtual reality, where computer-generated content will take centre stage. This aspect will completely change the production of videos and television shows, with the use of a computer generates most of the content. Also, mergers and acquisitions of the various production houses are anticipated to enable the content producers to pull resources together to meet the increasing technological needs and customize their products and services (Sigismondi, 101). Video streaming services are expected to gain more popularity in the future. This aspect will enhance the accessibility of content to the audience, improve the real-time interface, and minimize search costs to enhance the products’ electronic deliverability.
In conclusion, new information systems have significantly changed the entertainment industry. These technologies have influenced the way music and television shows are produced and the way they are consumed. The increasing development of new technologies is also associated with the development of endless opportunities and enhanced ethical implications. Some of the ethical impacts involve aspects such as copyright issues, the development of erotic content to minors, and violence. Advancement in technology is anticipated to lead to the development of virtual reality shows, a result of mergers and acquisitions of the media and production houses, and increased popularity of video streaming services.
Works cited
Andal-Ancion, Angela, Phillip A. Cartwright, and George S. Yip. “The digital transformation of traditional business.” MIT Sloan Management Review 44.4 (2003): 34.
Schwartz, Alexandra. “The Impact Of Emerging Technology On The Media & Entertainment Industry”. Medium, 2018, https://medium.com/@alex.schwartz/the-impact-of-emerging- technology-on-the-media-entertainment-industry-e2e20899374b. Accessed 30 Aug 2020.
Sigismondi, Paolo. “The Impact of the ICT Revolution on the Entertainment Industry.” The Digital Glocalization of Entertainment. Springer, New York, NY, 2012. 93-106.