In the past, it would take two or three years for a new version of a product to appear on the market. Today, consumers expect the release of a new version within a year.
The explosive proliferation of technology creates both opportunities and challenges for media and entertainment (M&E) companies.
On the opportunity side, they have a variety of new channels for creating and distributing content. But they face challenges in maintaining and rebuilding customer relationships that have been fragmented by an unending array of platforms and devices.
Every year at consumer electronics events around the world, media and entertainment technology manufacturers put the future on display. In the past, it would take two or three years for a new version of a product to appear on the market. Today, consumers expect the release of a new version within a year.
These technology changes are having a profound influence on consumer behavior. Consumers now expect to be able to access content anytime, anywhere, and from any device at their disposal. For those who can keep up in the media and entertainment (M&E) industry, opportunities abound. Those who can’t keep pace could quickly become obsolete.