The entertainment industry finally enjoyed some recovery this year from the recession-shy atmosphere that has dogged every segment of the business. Does that mean the hard economic times are now a thing of the past and we can look forward to better times?
Probably not. There are still key indicators that the economy’s recovery will not be as swift as most would like; however, increased consumer spending on entertainment products does show a willingness to look beyond the current troubles and uncertainty. Once the move to spend disposable income – instead of hoarding it as a check against more unstable times – starts it is likely to gain momentum and gradually return the economy to previous levels.
Part of the reason consumers came out of their spending shells this year was fatigue from several years of tight economic times. But a lot of it also had to do with some pretty cool trends that drove interest in the entertainment business.
To help put it in perspective, here are some of our most loved entertainment trends of 2011:
Widespread release of affordable tablet computers. Perhaps one of the biggest (in every respect except actual physical size) technological developments of the past decade, highly mobile tablet computing turned a significant page in how we connect and communicate. And this year prices finally dropped so that these devices could make it into the hands of more than just elite users.
Blogs continued their reign of authority. The influence of blogs ramped up even more in 2011, making them the choice destination for many Internet users’ quests for information. No matter whether you’re searching for pet information, an
electronic cig blog or information on traffic, consumer goods, charities or just about anything else – blogs were where it could be found.
Smart phones continued to improve Internet access. With a growing proportion of Internet users getting connected with mobile devices – particularly smart phones – it’s about time providers got on the ball and gave consumers stronger, more reliable connections.
Casual gaming got big. Perhaps it was the highly popular Zynga games on Facebook, or quite realistically the Angry Birds phenomenon, that sent players into a frenzy of wasted time. Either way the business of games for less-than-serious users took off to all new levels.
There are a million apps for that. With smart phones and tablet devices flying off shelves at rapid pace, the market for apps expanded in conjunction. The result: If there is something you want or need, there is probably an app available for free or a nominal price with the touch of a finger.
Flat screen televisions hit rock bottom. A combination of lessening demand and overstocked inventory took flat screen televisions to their lowest prices ever. And consumers loved every minute of it. Analysts now say televisions are at the lowest prices possible without cutting into production costs.
Social media got even more crucial and brought music streaming into the mix. Already influential, social media got even more front and center this year, especially sites like Facebook, Twitter and YouTube. Facebook hit a double high with the introduction of the free music streaming service Spotify into the platform.
Related Posts