A Look At The Future Of The Entertainment Industry

Karine Heyden

Thanks to technological advancements, growing adoption of mobile devices, and rising interconnectedness, it seems the entire planet is within reach. This has become a lot more prevalent over the past several years. The concepts of tweeting, liking, Skyping, and Snapchatting are all universal phrases now, and there is no sign of any slowdown whatsoever.

Although instant communication is a primary component of global connection, trade has become an even more important aspect of the planet’s togetherness. Think of it this way: the next time you purchase a product, just realize that there are various parts that come from all over the world to construct that item you’re holding in your hand.

Growth in telecommunications, trade, and free markets has allowed both globalization and economic independence for countries that have been foreign to the idea of capitalism and free markets. But there is one industry in particular that has been connecting the world for eons: the entertainment business.

Entertainment: A global cultural industry

Indeed, entertainment has been the force for educating and showcasing one’s culture. For years, consumers hungry for artistic endeavors from all over the world have been able to enjoy the works of Akira Kurosawa (Japan), Federico Fellini (Italy), Woody Allen (United States), Ingmar Bergman (Sweden), and Francois Truffaut (France). Of course, the market’s appetite for Hollywood blockbusters of the past 10 years has been fierce in every corner of the globe.

For decades, Hollywood studios have catered and marketed their products primarily to the American markets. However, whether it is a disaster film or a superhero movie, filmmakers and the suits have looked past the borders of the U.S. and crafted their motion pictures to perhaps influence Asian or European consumers to see their films.

Here is one statistic that may impact future films: China is set to become the biggest movie market in the world within the next two years.

Currently, the U.S. maintains a slight lead over China in terms of box office revenues, but this won’t last long because U.S. cinemas’ revenues have fallen five percent year-over-year. In 2014, China’s box office revenues soared 36% to $4.8 billion, while the country added more than 1,000 cinemas and more than 5,000 screens for a grand total of 23,600 screens. How many screens does the U.S. have? Just under 40,000.

Without a shadow of doubt, this report has underscored just how important the Chinese movie market has become for the likes of Paramount, 21st Century Fox, Universal, and all of the other studios and production companies out there. Remember the most recent “Transformers” movie? China had an important part in the movie.

Many may be thinking that consumer demand for American cinema is the driving factor. Not true. Reports suggest that demand for filmed entertainment within China has stayed relatively strong, even though the country’s economy has cooled down a little bit. Either way, the entertainment culture in China is thriving.

It isn’t just the silver screen that is having a global cultural impact. It’s also the attempts at bridging Western and Eastern cultures through the power of so-called cultural centers.

DreamEast is China’s emerging cultural industry titan, and it’s in the midst of deploying Chinese-culture focused entertainment projects all around the world. It aims at showcasing the country’s unique 5,000-year-old culture to the shores of Western countries, particularly the U.S. You can compare it to Disneyland or Universal Studios making their way to the major metropolitan cities of Tokyo, Shanghai, or Paris.

Because of DreamEast’s international deployment initiative and quick pace of development, the company’s Chinese culture-focused theme parks, art shows, and animation films are beginning to seep into the conscious minds of consumers and economics all over the world.

Here is what DreamEast writes:

“In global hotspots, DreamEast will establish cultural tourism projects with Chinese culture as the core and the essence of world culture as a support, enabling people to recognize and understand Chinese culture through novel entertainment experiences.”

As reports suggest, foreign films are already seeing a resurgence in the U.S. Although you may have a Disneyland in your region or a local theater playing “Star Wars: The Force Awakens,” it won’t be too long before you also start seeing Chinese motion pictures or a Chinese-related entertainment center near you.

Learn more about how the Internet, mobile technology, and the Internet of things are linking together people, places, organisations and objects like never before – and what that means for your business – in The Hyperconnected Economy.

Featured Image from Epicva

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About Karine Heyden

I use my creativity to empower others to grow their online presence, by sharing my understanding and expertise in my specialist areas whilst helping clients to enhance their online visibility and social media marketing productivity.