Perhaps there been has no similar point in history that has been able to shake up the entertainment and media industry around the world up until this point in time. The COVID-19 crisis has brought into light how we have been taking the simple pleasures of life, like the warmth of a touch, a friendly face in the crowd or even an uninvited and sudden guest to our house for granted. These are the very things that we miss now and would give anything to live again. Industries, one after the other, are shutting down and running out of business, and families are losing jobs every hour. The much familiar world is no longer the same, and nothing could be more tragic than that.
One of those industries that have been highly impacted by the crisis is that of media and entertainment. Imagine how we would frequent the cinemas every weekend and watch our favorite actors deliver some of the most nuanced performances on the silver screen. Well, that is a thing of the past now. And since theatres in most parts of the world are all shut down, the media industry has and continues to suffer a massive blow. Our habits of consumption have changed, and the new normal is far from what we had always known to be the normal.
A New and Skewed Consumption Habit:
As we mentioned earlier in the article, the way we consume media has changed, and so has our sources of entertainment. Most of the big production houses with big slated releases have now shifted gears, and are releasing their movies on the streaming platforms. The OTT platforms sure have come in as a welcome relief in this scene. This is also the case with other sources of entertainment. Initially, people would frequent gaming and gambling parlors, visit the sports field in real-time as a means of entertainment. However, the reality has changed, and now most of the people look online for sources of entertainment.
The Cost-Benefit Analysis of this Changing Consumption Practice:
There are two ways in which we can look at the changes that have set in the media and entertainment industry. While the land-based entertainment houses and cinemas have suffered and are still suffering tremendously due to the pandemic, according to www.slotsformoney.com, the online sources of entertainment are making profits by the hour. The OTT platforms are making more money than ever and helping actors, producers, directors and the entire showbiz to stay in business in these challenging times. Plus, the online casinos, gaming sites, E-commerce websites have all started making the most out of this business.
Will the Scenario Change for the Better and Normalcy Be Restored?
Even though the online outlets of entertainment and media have provided an opportunity for people to stay in work, a pertinent question still begs at this crucial point in time. How long can we hope to depend entirely on the several online platforms for our sources of entertainment and how long will these outlets as an alternative to the primary means of income be able to sustain themselves. These are some of the most important questions that we need to ask ourselves, look into and try to navigate through to find the right analysis. And while there is still some time in our hands to think about these and form a conclusion, it is important to remember that these questions will arise at some point, nevertheless. And then we must be prepared with not just our answers that look sensible on paper but also have the means to implement them effectively into reality.
The crisis that we have found ourselves in is one of a kind. None of us has any experience in dealing with something of this scale, and that is why we find ourselves coming apart at the seams in every waking moment of our lives at this juncture. Industries are working day in and day out to find alternatives and viable options that will keep them afloat. The same is the case with the media and entertainment industry as well. And though it is still uncertain as to what the fate of this industry will be, one thing can be said for sure that the landscape has undergone massive changes and will continue to do so in the years that shall follow.