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Digital media - Research Paper Example

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Summary
Digital media has revolutionalised the experience that fans have in sports and entertainment, which in turn, has improved revenue streams. Universities, leagues, venues, and teams around the globe are now harnessing the power of digital media for the delivery of more personalized and powerful fan experiences…
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Digital media

Download file to see previous pages... Digital media in the sports and entertainment industry has enabled greater growth and innovation. This is, through enabling industry players, to implement a single foundation networks that serve their business and aids in its growth. It improves content protection via integration of data into an end-to-end system that aids in the reduction of piracy, which was a cause of huge pilferage, thus increasing revenue. Digital media ensures the delivery of virtually limitless, which has allowed sport to attract new audiences at a lower cost (Rayburn, 2012). Digital media also improves fan engagement, which is achieved by transforming the venue, whether for sport or entertainment. This will involve the delivery of live video and custom-made content to all monitors at the venue. The broadcast television industry will be a major beneficiary of digital media in the next five years, especially with the convergence revolution. Convergence is a trend via which various aspects of telecommunication, broadcasting, and computing are brought together into one digital bit-stream (Hutchins, 2012). Television revenues are bound to increase significantly, especially as most sport-oriented TV stations have their own integrated TV-mobile-computer system. For example, ESPN already has ESPN mobile, which offers to stream video, as well as other NFL content that could significantly enhance the NFL product. This will see subscriptions and advertising revenues increase, as will the number of channels as more quality content becomes available with the evolution in digital media content. 2. How do you see E-Commerce evolving in the next five years? Identify the trends in E-Commerce, Mobile Commerce and Social Commerce (Sales made directly through social networks or sales made from social media referrals) today and where you expect them to be in five years. Mobile commerce is growing faster than social commerce. E-commerce in 5 years will become a concept that is very inseparable from the internet, especially as e-shopping becomes more natural and popular. Simultaneously, severe rivalry in e-commerce services is expected to intensify the development of e-commerce. Therefore, the future trends inherent in e-commerce are evolution and growth of internet sales (Laudon, 2010). As more people become held up by household and work duties, the internet will avail them with the opportunity of saving time and getting the best prices. Additionally, since the internet has removed the factor of geography from sales, the tendency of quantity to quality inherent in e-commerce will become more obvious. Therefore, to survive e-store-owners will have to employ opportunely modern technologies to achieve appealing presentation of goods, user friendliness, and attractive design in order to attract more e-customers. Firstly, current trend in mobile commerce involves location based mobile advertising that is used to drive in-store traffic whereby businesses use mobile advertising as a means of driving foot traffic. Secondly, it involves using SMS to build databases and send out messages to customers to inform them of sales and mobile exclusives. Thirdly, QR codes whereby retailers implant the codes into mail, magazines, and posters, which can be read using mobile devices and give information regarding the business (Agudo, 2009). A trend that is expected to escalate ...Download file to see next pagesRead More
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