It has been a talking point for cultural critics, academics, market analysts and the guys in the bar – has digital completely eclipsed physical entertainment? Even if you are only vaguely aware of the goings on in the tech industry, you will be well aware that the rise of various entertainment platforms has threatened the survival of their physical counterparts.
One of the clearest and most obvious signs of the changing times has been the closing of video stores and record stores, as they have essentially become obsolete. But does that mean that all physical entertainment sectors will go the way of Blockbuster? Keep reading to find out more.
Global events forcing the hand of fate
As everyone is aware, the health crisis that has spread throughout the world over the last 18 months has rocked entire economies, industries and governments to the core. The health crisis has also had the effect of encouraging – or forcing – billions of people to spend more time at home than ever before.
Although most restrictions are lessening or disappearing altogether, we all had to turn to digital platforms for everything from work to entertainment to education during the height of the crisis, and many of us have realized that we prefer the digital versions.
Television and film: disrupted
The number one thing that we all think of when considering the increasing digitization of film and television is the rise of Netflix. Netflix truly disrupted the industry through its subscription payment model, its platform based on streaming, and its in-house production team.
Even though Netflix created a huge amount of amazing content for years, it was only truly recognized by the establishment when the movie Roma won an Academy Award. Since then, major film producers have held their noses and done joint releases on streaming platforms and cinemas. There are now dozens of different streaming platforms, so users really can choose whatever is most to their taste.
While the established film industry has started to accept media produced by streaming companies such as Netflix, it has been more difficult for the cinema industry to adjust to the changing times. Films are expensive to see in person and few people are willing to pay to see anything other than the latest superhero movie release. It is perhaps unsurprising, then, that many of the cinemas around the world that are thriving are small, art house cinemas that cater to film buffs who are willing and eager to see films in theatres.
Online casinos and sports betting
One of the industries that has taken off in a huge way is the online casino and sports betting industry. Online casinos are becoming increasingly prevalent and online sports betting platforms are also growing in popularity across the United States as more and more people try them for the first time. States such as New York are
The industry has grown so much that there are now hundreds of different online casinos and digital gambling platforms available for gamblers to choose from. In fact, online casinos are setting themselves apart from the competition by offering gamblers extensive libraries of games, bonus offers and regular seasonal promotions.
More and more local and state governments are now starting to reconsider their gambling and sports betting legislation as seen in the state of New York that is now waiting for legislation. After the global health crisis, many governments are desperate for new sources of tax revenue in order to support infrastructure projects and health care institutions. As gambling and sports betting laws are liberalized across the United States, it is likely that more people will start playing and using the platforms.
However, even though online casinos and gambling have become incredibly popular, they have not entirely replaced the role that casinos play in society. The physical casinos that exist in North America are likely to continue operating, regardless of the competition from online gambling platforms. This is because casinos cater to a specific, in-person experience, which gamblers seem to prefer to enjoy from time to time, regardless of their digital activities.
Classes, workouts and everything in between
We now use digital platforms in nearly every aspect of our lives and it does not look like our reliance on technology and digital platforms will lessen any time soon. Everything from education to work to exercise to learning new skills has been successfully transitioned to digital platforms.
Does this mean physical entertainment is over? As it stands, it looks like those engaged in the physical entertainment industries can succeed in the digital marketplace, but it will require innovation, effort and creativity to adapt sufficiently.