The 5 Most Important Entertainment Trends (2021-2023)
Here are the top five entertainment trends for the years 2021, 2022, and 2023.
As well as specific examples of what is driving each direction forward.
Whether you work in the entertainment industry or are simply interested in the subject, these are the top trends to keep an eye on.
1. social video takes off
With Facebook Watch, Facebook is attempting to usurp the social media video
throne.
(This is the one YouTube has had for years.)
With 1.25 billion monthly viewers, it appears to be working.
However, while Facebook has impressive numbers, it is far from fashionable.
TikTok, on the other hand, is shaped like a rocket ship.
The most significant new video-based social network had over 800 million monthly active users at writing.
Lockdowns aided TikTok's rapid user growth.
And those users aren't afraid to spend money to gain more followers. (One tell-tale sign is the appearance of TikTok-related products and services,
such as TikTok editor and TikTok lights.)
Meanwhile, Facebook's push for social video is spreading to other
platforms.
Instagram's IGTV, which debuted in 2018, is now integrated into the main app.
While it hasn't taken off like their Stories feature, there are some promising signs.
A recent mini-series hosted exclusively on IGTV by soccer stars Trent
Alexander-Arnold and Andrew Robertson.
Individual episodes have received over a million views.
But, regardless of which platform comes out on top, one thing is sure:
social video is a huge trend. Video streaming and download speeds will increase as 5G network coverage expands through 2021 and beyond.
And we believe that social video usage will increase as well.
2. more streaming services come out
Revenue from video on demand (SVoD) is expected to exceed $85 billion per
year by 2025.
As a result, it's not surprising that many media companies want a piece of the
action.
Paid over-the-top ("OTT") streaming platforms are springing up everywhere to
compete with incumbents like Netflix, Hulu, and Amazon Prime Video.
Quibi's short-form offering failed miserably.
However, a clearly defined niche concept has proven to be successful elsewhere in the streaming world. Crunchyroll, a dedicated anime service, has seen a significant increase in search volume during the pandemic. And it now has more than 3 million paying subscribers.
Simultaneously, Disney is utilizing its extensive back catalog to attract subscribers to its service, Disney+. It also has a lot of new programming, such
as their flagship show, The Mandalorian.
Disney+ debuted in November 2019. Only five months later, it had surpassed 50
million subscribers. Since then, the figure has risen to 73.7 million.
3. Podcasting is becoming a favored medium.
Podcasts are expected to be listened to by 120 million people at least once per month by 2021. And that's just in the United States. That figure is expected to rise to 164 million by 2023.
Every day, new amateur podcasts emerge. There are now over 1.5 million podcasts in use.
However, the industry is becoming much more professional and transforming podcasting from a pastime to a viable business model. Branded podcasts demonstrate that the format can be used for marketing as well as entertainment.
(Do you still not believe us? Consider what Microsoft, Basecamp, and even Gucci have done with theirs.)
Furthermore, podcast networks are aggressively purchasing and developing new series.
4. Cloud gaming is becoming more popular.
There are several major entertainment trends in the gaming business at the moment. The Xbox Series X and PlayStation 5 were both introduced in November 2020. Virtual reality and augmented reality game technology is advancing. Esports are becoming more popular. And mobile gaming is more popular than ever. Cloud gaming, on the other hand, might be the most crucial gaming development in 2021.
There are around 3 billion gamers on the globe. And very few of them have the hardware needed to play the most recent and demanding games. Cloud gaming overcomes this issue by streaming video game material from remote servers to your device. That way, your computer (or phone, or smart TV) isn't performing all of the heavy labor.
5. New(ish) sports emerge.
Fitness is a "mega-trend" that affects many aspects of our life.
Garage gyms, Zwift, and Peloton are available on the inside. Outside the home, though, things are more interesting: ax-throwing is becoming increasingly popular among those who don't mind a little danger. There's also bike packing if you want to go on an adventure in the great outdoors. (That is, indeed, hiking on a bike.) Who doesn't like a casual game of pickleball? These activities aren't entirely new, but they're becoming more popular with each passing year. And they're becoming mainstream in 2021.
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