Digital entertainment industry has witnessed strong growth in the recent years as fast broadband connectivity and affordable 4G data plans have offered quick access to online entertainment. With the rise in use of online apps for messaging, the reach of digital media has increased manifold as people share entertaining stories with their friends and contacts. In digital entertainment segment, there are many sectors which have grown in the recent years as more and more people use video sharing platforms and download apps for varied uses like online gaming, fitness, entertainment, betting and investing in stocks.
For online video sharing, popular platforms like YouTube, Facebook, Instagram have been fighting for eyeballs with entertainment giants like Netflix, Amazon Prime and HBO. Many artists, web series, movies and TV shows have also shifted to online video sharing platforms.
While in United States, the data speeds and network coverage have been improving steadily, countries like India have witnessed a massive surge in 4G data consumption. After Reliance Industries announced low cost plans under its telecom services company JIO, the internet usage on mobile devices has surged in India. For nearly $2 per month, users get 45 GB data limit per month on their mobile device. This has led to increased internet access across India and higher use of social media apps for information sharing and entertainment. Other companies in telecom sector had to offer similar data limits at low price to remain competitive.
Amazon Prime and Netflix consider India as a high growth market, mainly due to higher penetration of 4G services in India. Both platforms have announced many shows for local audience and their subscriber base has been growing at an impressive pace.
Other than digital entertainment, the increased use of 4G data services has also helped segments like healthcare, gambling, sports betting, forex trading, commodity trading and stock market investing. Many platforms are offering entertainment, gaming and betting options for Indian bettors with games like andar bahar, teen patti, slots, blackjack and Indian rummy.
And, internet isn’t only about entertainment, there are many other services offered online these days. Apple announced an interesting service Fitness+ during its annual event yesterday and this will include seamless integration with Apple Watch and other devices. Many fitness coaches will be offering their fitness regimes on Fitness+ platform and Apple Watch will keep a close watch on health data of users.
Short video sharing app TikTok has become the latest sensation among youngsters and has consistently ranked among the most downloaded apps on Android and Apple devices. However, TikTok faces uncertain future as the company is based in China and it has been termed as security risk by many countries. In the recent months, TikTok has been banned by Indian government while US government has announced that the app will be banned shortly due to security risks. TikTok is exploring options to sell its US and European operations to some technology company. However, TikTok remains popular among internet users. The time will tell whatever happens with TikTok but one thing is for sure, the surge in digital entertainment will lead to more options for consumers in future.
