I need some assistance with these assignment. marketing opportunities for the entertainment industry Thank you in advance for the help! This growth is however not independent and is influenced by other factors that are associated with the industry like distribution, intellectual property, licensing, contracts and investments. The growth of the Chinese entertainment industry can be attributed to the popularity of Chinese movies in the country and across the globe (BNET, 2007). The report tries to make an analysis of the current entertainment industry of the world and the economic environment in which the industry operates. It identifies and analyses the probable competitors of the industry. It also makes a comparison of this sector with the other two sectors of the economy.
The entertainment industry has to face serious implications with regard to changes in consumer behavior and market fluctuations. The sector would also have to cope up with the rapid technological changes that have moved the world. “The highly anticipated annual report pegs global compound annual growth rate (CAGR) at 6.6% for the sector, anticipating it reaching $2.2 trillion in 2012” (Media Newsline, 2010). Researches have anticipated that the industry would have to deal with a number of competitors in the near future and that it would have to struggle hard to make its presence more conspicuous. In fact, the new economic environment of the industry has given rise to a new business model.
Critical technologies also play an influential role in determining the direction and pace of the media in the next few years. The most prominent areas which would require additional attention from the perspective of the entertainment industry are as follows. Broadband has penetrated every nook and corner of the world. Mobile has also been gaining ground. Cellular network has been upgrading its infrastructure and adding to the number of subscribers to enable and encourage mobile expansion. This expansion is attained via the internet and through advertising and media. Upcoming movie houses, 3-D cinemas and digital cinemas have improved the “cinema-going experience”.
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