The Entertainment Industry in 2021
2020 took a big toll on the entertainment business with movie theatres shutting down, concerts being canceled, and production of shows and movies being delayed or paused. With things not looking to change anytime soon many media executives decided to invest big in a streaming-centric future for 2021. HBO Max, Disney+, Peacock, Apple TV+, and plenty of others are adapting to these changes by bringing in their own content straight to the viewers or by teaming up with networks and studios to use their streaming platforms to gain subscribers and get the latest content out to viewers.
With people being stuck inside for a good portion of last year there was a noticeable gaming bump. PC, mobile, and console is expected to grow drastically this year, and with two new consoles launched back in November, we see gaming stand apart from the crowd. While it is hard to predict anything headed into 2021, here are some trends to look out for in the new year. Many companies are still working from home, which slows down the development of games, so just like last year you can expect delays on new releases and even upon release there will most likely be bugs. Cloud gaming has proven to work so you can expect substantial growth for 2021.
The live music industry continues to suffer immensely forcing artists to rethink their income streams. Tours and concerts are still not possible, so artists are finding other ways to generate revenue through virtual concerts or small private shows. Artists will most likely continue to release new music on streaming platforms to make income to make up for the loss on live events.