You’d be hard-pressed to find an Aussie who doesn’t fancy at least some form of entertainment. This is a multi-billion dollar industry in Australia after all.
But what are the prevailing trends that are shaping its course in recent years? Let’s find out!
1. Australian entertainment is driven by smartphones
The way people prefer to consume content tends to change over time which has the potential to reshape the entire entertainment industry. Data suggests that 88% of Australians have a smartphone in their possession, thus facilitating the access to popular apps and other digital content.
In essence, these handy devices have become the go-to portable entertainment devices that people use as they are searching for Australian Online Casino Reviews, restaurant recommendations, or browsing through the local cinema’s movie board. Thanks to how powerful yet affordable modern smartphones tend to be, this is one less obstacle that would stand in the way of gaming, streaming, and other forms of entertainment that’s popular in Australia.
2. Video games are the most lucrative revenue-generating machines
Traditional video and audio content may be as popular as ever, but the revenue-generating crown goes to video games. It takes just a single hit to generate billions in revenue, with Call of Duty and Pokemon being two examples of revenue-generating giants, each in their own genre. In fact, video games bring in more money than what can be said for the music and movie industries, and the trend is likely to continue throughout the years.
At the end of the day, there is something alluring about the idea of using your smartphone as a handheld console you can bring with you no matter where you go. This is great news for those who pursue a career in game developing, programming, animation, and similar fields.
3. The growth of the Australian entertainment industry creates jobs
Thanks to the overall growth in entertainment, many jobs are created in Australia, particularly in the advertising segment. The spending on advertising is estimated to be growing by 2% on an annual basis. Compared to the past, there is a notable shift in advertising formats, with digital advertising channels gradually replacing their traditional counterparts. While the former are experiencing industry growth, the latter are slowly declining.
This also signifies a change in open job positions and career opportunities. For instance, there is slightly less demand for copywriters while there is an increasing amount of job openings for digital media and communications experts. In other words, the prevailing trends in Australian entertainment play a pivotal role in job opportunities you can find in the Australian labor market.
4. Australian entertainment industry’s growth and forecasts
At a 2.1% growth rate as indicated by the Australian Entertainment & Media Outlook report, the Australian entertainment industry is expected to be worth $43.7bn by 2025. Note that the growth may not be completely symmetric across all the segments. To name some examples, revenue sourced from digital entertainment is likely to increase by roughly 5%, while revenue sourced from print media is expected to decline by roughly 10%.
It goes without saying this will have an impact on the younger generations and the direction they choose to take their career paths. In general, any kind of digital communications, IT, animation, and programming studies should be a solid choice as far as securing future employment goes.
Traditional print media is slowly stepping aside to make way for content consumed on digital devices.
The Australian entertainment industry trends shape the future of employment and study courses likely to be chosen by the Australian youth. As things stand to be, traditional print media is slowly but gradually making way for a more modern take on it via content consumed on smart devices.