Avid: 3 Predictions for the Media and Entertainment Industry Emerging from COVID-19
By Adam Noyes
Covid-19 has undeniably changed the landscape of Media and Entertainment, but what will the lasting effect be? Likely, many elements have changed in a way that will not reverse when the world moves on from Covid.
Avid has released a great article covering their predictions for how the Media and Entertainment Industry will change due to Covid-19. Check out some highlights from that article, below.
As the media and entertainment industry gradually unlocks from months of quarantine, it’s preparing to reenter a world that’s been permanently changed. Above and beyond social distancing and sanitary measures, the film and TV business faces an uncertain future stretching from the foundations of production to the economics of consumption.
However, there are some navigational markers CEOs and CFOs can use to guide their strategic decisions. In the aftermath of the pandemic, Avid predicts that the future of media and entertainment is poised to see large changes:
- An acceleration of existing trends toward subscription models for production technology
- A changing mindset toward distributed workflows and cloud applications
- A growth in niche content from OTT providers
While challenging, the prognosis isn’t gloomy. In fact, the media and entertainment community has an opportunity to re imagine how it creates, produces, and delivers great content.