Digitization: Fueling the growth of Media & Entertainment industry in 2016
The process of converting information into a digital format is known as Digitization. Here the information is organized into units called bits which can be individually addressed. This binary data is processed by computers and other devices having the capacity to compute. Digitizing information makes it easier to save, access and share across various platforms to any place in the world.
Digitization in the Media and Entertainment space
Every industry has been impacted in a positive manner by the use of digitization and the entertainment and media industry has been no exception to this. In the previous year, the M&E industry was taken by storm by the digital revolution and from the results we saw, 2016 is not going to be different. As predicted by experts, it is this digitization that will help in breaking new barriers and creating bigger grounds to play.
This impact has been further fuelled by the rise of the mobile technology along with the coming-of-age of internet too. This is akin to a revolution that this industry has never seen before has given this generation a great spectacle to witness. In earlier times, it was newspaper that bought in news the next day morning from around the world. Today, the job of reporting and analysing is being done by social media platforms like Twitter and Facebook.
Since the advent of mobile technology, television, radio and newspaper have taken a backseat just like the internet has transformed the M&E industry. The “second screen” phenomenon has made sweeping changes to the way users watch television. The second screen is the laptop, mobile or tablet that is used in between programs or commercials by television viewers. The presence on this second screen is extremely critical and every industry is vying for space here.
Content that is available at the click of a button, yet is available from anywhere and can be shared is the need of the hour. Digitization will make sweeping changes in the way content, be it newspaper or television, is looked at and consumed. Large Media houses dealing with news on print have started looking at various avenues of reaching the audience and digitization is help them to do so.
What are the key growth drivers in the Media and Entertainment sector in India?
The Media and Entertainment sector in India is growing at a blazing speed. As per a FICCI-KPMG report, the Indian media segment is expected to grow at a CAGR of 13.9 percent by 2019, and one major reason for this growth spiral is the young audience, which is consuming media at their own pace and convenience, sharing content across platforms and putting their views across on social media. This is the power of digitization and this will fuel further growth in this sector. The scorching pace that it has set in 2015 will be further accelerated because it is more user-driven and will provide content that is available on demand.
Zyxware has always been at the forefront of such revolutions that rock the media and entertainment industry. Our constant interaction with the leading organizations of this industry has given us access to the pulse of the M&E sector and we put it to good use along with the latest in technology while partnering with our clients. Over the past 9 years, we have successfully developed several Drupal-based websites for our clients in the media industry. Give us a call today to get an insight into our Drupal development services.