From artificial intelligence to smart homes, technology seems to be taking giant leaps every day, impacting our everyday lives in a significant way. Yet it is perhaps those developments that we already take for granted that have had the biggest effect on our lives, like the humble camera. Camera technology has advanced beyond belief in recent years, as the advent of smartphones made sure that every one of us had quick access to their own camera and made us more familiar with the technology. This means that more people generate and share live and pre-recorded video content – and they, in turn, look for it when they choose their entertainment options. From live streaming to live casino games to user-generated content, camera tech has truly revolutionized the entertainment industry.
1. Live Streaming Music Festivals
Streaming videos, TV series and movies online on services like Netflix and Hulu has surely transformed the landscape. But the new trend is live streaming: producing content that is recorded and at the same time broadcast back to the viewer is dominating the landscape in many forms of entertainment, like social media or gaming. It is estimated that the video streaming industry will reach more than $70 billion in value by 2021, while 80% of social media users state that they prefer live content over other types of social content. It is also the tool of the younger generations, as according to research, 42% of internet users aged 18-34 have created and 63% have watched live content on social media, the biggest percentages across all ages.
You will find more infographics at Statista
Who’s Watching & Creating Live Streaming Video in the U.S.
Services such as Twitch, Periscope and Facebook Live have tapped into the huge potential of this market and are quickly advancing in drawing more and more people in. A lot of the content created has to do with music: up-and-coming musicians who perform covers of their favorite bands hoping to get their music out there, or live streaming radio stations. Live streaming is also set to revolutionize the music industry by providing the chance to fans that are unable to attend big music events to still tune in and enjoy the show. Music festivals and gigs are extremely popular across the world, with 1 in 10 US citizens attending at least one festival annually, which means that live streaming is reaching out to a wide audience – and research has found that 23% of people discussing a show on social media are remote fans that used live streaming.
2. Live Casinos
Gaming is one of the prime areas where live streaming technology is widely embraced. Twitch has truly transformed playing video games online in front of a live audience from a quite niche hobby into an industry with millions of followers. Beyond classic video games, online casinos have also adopted the live streaming technology quite early on – which is no surprise, since the virtual gambling industry is well-known for not being afraid of experimenting with new tech to increase engagement, excitement and convenience for players.
Many online casinos now offer, beyond the classic games of Texas hold’em and online slots, the opportunity to play casino table games live with the help of camera technology. There is a wide array offered, with almost every game and its variations available to players, from live roulette, live poker, and live blackjack to more particular games like live baccarat or live Dream Catcher. This means that players can connect by live streaming video with a human dealer seated at a real casino gaming table, and interact through their computer, usually via chat. This offers the chance to online casinos to harness the live streaming technology in order to bring to users a casino experience that is as life-like as possible.
3. YouTube Premium: Creator-generated Content
YouTube is undeniably the most popular online video sharing platform – it is estimated that over 400 hours of video content are uploaded on the platform with every passing minute. It was only a matter of time before YouTube diversified its account options to provide users with more flexibility. In 2014 it unveiled Music Key, which was reinvented as YouTube Red in 2015 and was rebranded as YouTube Premium in June 2018. The recent changes took into account one of the biggest trends in entertainment lately, as evidenced by the rise of Netflix and Amazon Prime: the power of original content.
Top 10 Most Subscribed Channels on YouTube
YouTube has helped establish many creators and social media personalities, commonly known as vloggers or influencers. No matter how they choose to define themselves, the truth of the matter remains that YouTubers like HolaSoyGerman, VanossGaming and Yuya have literally millions of subscribers and followers and have a very wide reach. YouTube decided to monetize this industry further, by including original shows and series into its new premium service, like video content created by popular YouTube personalities or the long-awaited and widely acclaimed sequel to The Karate Kid, titled Cobra Kai.
What if I told you that there is a software tool that can combine camera technology with machine learning and artificial intelligence to tell you how you feel when you watch a video? Obviously, the technology could have immense influence on the marketing and advertising industry by allowing professional to provide tailored content and streamline campaigns. Realeyes, a UK-based startup, aims to do just that: use computer vision to understand people’s emotional responses. By using predictive analytics and a database of more than 15 million instances of emotional responses in frames, the startup that managed to raise funds of $16.2 million is using video technology to help shape video ads but also video content in a more targeted fashion.
5. Holographic smartphones
Another big splash is coming in the realm of smartphones, this time using camera tech to provide users with a “holographic” smartphone. The company launching this new type of phone is RED, a mostly video equipment company, and the model is called Hydrogen One. It is set to be released in August after much anticipation and some delay and it will use dual cameras placed at the front and at the back of the device in order to enable it to carry 4V content and produce a “holographic” display. However, we have not seen a live display yet, so details will be confirmed closer to its launch!
No matter where these new developments in camera and video technology take us, the future certainly looks promising and exciting for users, creators, and developers alike.