Covid-19 pandemic has caused disruptions in many industries. The world of entertainment is also under a massive impact, and it needed to adapt to the situation with some alternative approaches. Since the audience cannot enjoy concerts, films, or exhibitions live, it needed to move to virtual spaces in order to continue consuming these types of entertaining content. Let’s check how different entertainment industries evolved to overcome the current crisis.
The increased popularity of online casinos
Gambling is nowadays one of the most popular ways of having fun and getting relaxed after a busy day. In general, people like to be surrounded by luxury in brick-and-mortar casinos, to feel the cheerful atmosphere, and try out their luck on numerous types of games. However, due to government regulations in almost every country, most of the land-based casinos have been temporarily locked during the pandemic. Since the crisis lasts a little bit longer than expected, the future of land-based casinos is shaky, and nobody is sure when they are going to be reopened.
However, gambling hasn’t stopped. The casino consumers were looking towards the virtual space and started visiting online casinos much more frequently. In countries like Canada, despite the green light from the government to reopen, some casinos still remain closed as a safety measure, so If you live there you can check the top online casinos in Canada at https://www.bestcasinosites.net/canada/. Of course, the online market was present before the coronavirus crisis, but the lockdown caused its rapid growth in the past few months. The current growth rate of the online gambling market hit the rate of 13.2%, and it can continue to rise depending on the future Covid-19 crisis development. It exceeds $60 billion yearly and has the potential for further growth. The closure of physical gambling venues moved the entire industry online, and the search interest for online casinos is a record high. According to various research, the gamblers are spending more time and money at online casinos during the lockdown.
There has always been a debate about the pros and cons of online casinos. The ones who advocate brick-and-mortar casinos highlight the atmosphere as the most significant advantage. Vegas-style aesthetics, flashing lights, crowded venues, it is something that online casinos can never achieve. You can have a drink with your fellow gamblers, and the staff is everywhere around ready to serve you. In case you get lucky, you can pick up your winnings right at the cashier desk. You don’t need to wait for the transaction to be processed, and you get your payout instantly.
Even though online casinos cannot provide you a more personal experience, they have several pros that still can make you enjoy the games. The number of games on offer is much higher in comparison to physical casinos. Thanks to software providers, the number of games and titles are continually increasing. Therefore, online gamblers can always expect something new in their online casino’s offer. You may choose from hundreds of games that also provide excellent payouts.
Players can count very often on the welcome bonuses after signing up for an online account. They can be very generous, especially now when the entire industry has switched to online casinos. Since the competition is high, lots of providers want to attract as many customers as possible with lucrative bonuses. It is something that you cannot expect when visiting a land-based casino.
Netflix to overcome traditional cinemas
Cinemas are also an inevitable way of entertainment, but they also got hit by the lockdown. You were able to get familiar with the impact of Covid-19 on the music, but what about the movie industry? The outbreak intensified the changes that are shaking up Hollywood. However, streaming services took advantage of the current situation, notably Netflix, as the most popular one among them. Lockdowns all around the world keep people at their homes, and it is the main trigger for the meteoric rise of Netflix.
The number of new subscriptions to the service in the first three months in 2020 almost got doubled in comparison to the end of 2019. According to Netflix’s data, the first quarter of the current year saw nearly 16 million new subscribers. The company will very likely feel the least impact of the coronavirus crisis since people will continue spending the majority of their time at home. Another 7.5 million members signed up to the service by the end of June, which is even above the expectations. Also, it is still uncertain when theaters and cinemas will open their door to the audience. Almost all filming all around the world is on standby, and the audience cannot expect lots of new titles soon.
The last month saw a very high demand for streaming, and Netflix needed to reduce the video quality for the European audience. The strain on internet service providers was too tight, and it needed to get ease. The interest in the service is so high that the customer support service also got increased with additional 2.000 employees.
More consumers of video games
The confinement saw people spending much more time at home than usual. The majority of them have adjusted their habits or developed new ones to adapt better to the coronavirus crisis. Playing video games is one of the ways to overcome these stressful times more easily. Since the pandemic started, people chanced their habits, and 38% of consumers tried out new digital media activities and subscriptions. In comparison to the pre-pandemic period, the number of paid services per consumer rise from three to four. More than a quarter of the current subscribers plan to purchase additional services as the outbreak continues.
Video games are enjoying a significant increase in popularity during the pandemic. Almost half of the online entertainment consumers played video games during this period. The increase is substantial with Millenials and Gen Z, from which 69% and 75% consumed video games, respectively. Gaming got the consumers to go through a difficult time more efficiently, and one-third of them said they would rather play video games than stream a television show.
Another factor that caused video gaming to rise high is the pause of the major sports events. The competitions like the Olympic Games or EURO 2020 have been postponed for the next year, while the NBA league just continued. However, eSports have been running and attracted much closer attention even from those who were not familiar with this high-evolving form of entertainment. Streaming platforms like Twitch and Mixer also benefited from an increased number of viewers, while the bookmakers included eSports events into their offer. The increased popularity of video gaming had a positive impact on other industries related to entertainment.
Looking ahead, the future of online entertainment forms should be bright in the short term. What would happen after the Covid-19 crisis? It is tough to predict. While some research indicates that people will continue visiting online casinos, or paying subscriptions to watch their favorite movies and TV shows, the others suggest that they will return to previous habits. One thing is for sure; at one point, the growth of the online entertainment industry will start to slow down as nobody will stay at their homes forever. Either the online activities can replace big events, or it will face a decline, which we hope won’t be so dramatic.