Catch the changes from your customers
November 29, 2021
The persistence of COVID-19 has been changing the world’s order, especially the users behaviour on using digital platforms. Lots of business executives even claim that they are going to fade out if not to reinvent their business now.
Let’s look into the entertainment and content sector. Most of the people used to stay at home and look for alternatives from going outside. This change did not only affect the way to entertain but also the medium to enjoy. Facebook did a survey and discovered:
1) people tend to much multi-tasking on mobile phone
2) the young generation tends to shift from live TV or physical theatre to on-demand streaming services
This will be a bomb to traditional players even though the overall COVID-19 effect has eased or improved. Nevertheless, users' behaviour has been changed completely. The Japan movie players predict that will cause
20-40% small to medium theatres to shut down in the coming 18 months.
The repaid moves of digital behaviour doesn’t mean a total threat to existing players. On the contrary, the accumulation of huge amounts of user data means new opportunities in the new order. Data analysis is only the first phase to understand your customers. With the technology and methodology from Artificial Intelligence (AI) and Machine Learning (ML), it plays an important turning key to broaden your market scientifically. This enables you to make fast and accurate decisions on your next move. More importantly, it's 24/7 and there is no need to wait for the cut-off.
Does it make more sense on your upcoming business development? Let’s be positive.