How we go about our daily lives has changed drastically since the birth of the internet. Everything can be done online, from menial daily tasks like grocery shopping to how we communicate with our friends and family. But how has this digitalization changed the way we consume entertainment online?
iGaming
iGaming is one of the industries that has exploded in the past decade on account of benefitting from the growth of technology. Nowadays, gamblers can now play what seems like a never-ending array of games in online casinos, like poker, games of chance like , or slot machines. But as recently as 10 years ago, we relied on computers to access the internet, and gambling online was not as easily accessible or as popular.
The industry continues to grow too. In 2022, The Wall Street Journal reported that in the USA, the iGaming industry was worth $60 billion. In 2023, as more people have access to smart devices, iGaming has only become more popular around the world. These games were previously only available in casinos, but they can now be played online at the touch of a button.
Online Streaming
Until the 2000s, it was commonplace to watch your favorite show at the time it was broadcast on television. About 15 years ago, the digital revolution took over, and viewers could pause, rewind, and record live TV. In 2023, we will be in the era of binge-watching.
Companies such as Netflix, HBO GO, and Apple TV are responsible for this, offering subscribers the chance to watch their favorite movies and shows where they want and when they want. Viewers can stop watching as they please or binge-watch any series they want. This movement to online streaming has transformed how we watch television, increasing availability as well as choice.
While families still sit together to watch television, the content they watch has changed. , just 10% of 18-24-year-olds prefer watching broadcast television to streaming. However, over 65s still watch television. This preference of youngsters towards streaming means that the era of streaming, and bingeing, will continue.
This same trend can also be seen in the music industry. According to a report by RIAA, the US music industry makes over 84% of its revenue from streaming. While YouTube is currently the most famous video streaming platform and contributes significantly to taking viewers away from broadcast television, offering live sports, news clips, entertainment videos, and a whole lot of other types of content as well.
Social Media
Facebook, Instagram, and Twitter have become behemoths of the social media industry in the past decade. that as of January 2023, 72% of Americans used social media applications, and they dominate how we consume entertainment online. Such is the wide reach of social media. Statista.com expects global spending on social media advertising to reach $268 billion in 2023.
Initially, these apps were used to stay in touch with friends, share photos, or watch videos, but now they encompass each one of those and more. We no longer need to watch movie trailers at the cinema, buy a newspaper for the latest news, or watch sports highlights hours after the event. Social media provides all of this, more or less as it happens, in the palm of your hand.
With the rate that technology is evolving, there are sure to be more changes to the way we consume our entertainment content in the future. Who knows which social media giant will dominate or whether we will still be binge-watching on Netflix, but one thing is sure: we will do it online.