Why is Entertainment Industry Software Essential for Business Success?

Here are 2022 Digital Trends: Media and Entertainment in Focus

Shall we begin?

Entertainment Apps and Ways to Make Money with Them

Unlike other industries, the media and entertainment industry boasts the highest levels of customer engagement and loyalty, as well as rapid growth and market reach. According to a Deloitte report, media, and entertainment will rapidly evolve in 2022, not only in response to current trends, but also to post-pandemic behavioral changes. Deloitte highlights five attention-grabbing trends that will have the broadest impact on the entire industry: streaming video, live entertainment, social media, NFT, and the metaverse.

Hundreds of thousands of entertainment solutions allow us to watch your favorite movies, listen to music, play games, and catch up on the latest news. Anytime, anywhere. Some of them have become the hottest trend, without which we cannot imagine our daily routine. They generate high revenues and have a wide audience.

So let’s consider how you can make income with these apps.

Entertainment App Monetization Strategies

Whether you have created paid or free entertainment software, you should choose a monetization strategy to make your project profitable. The choice depends mainly on the features of your product. For example, in-app purchases are more suitable for games, while language learning apps can profit from both paid subscriptions and ads. Below you will find the most popular and powerful monetization strategies.

• Paid subscription option allows users to enjoy your app for a certain fee. This monetization strategy typically generates high profits for publishers and ensures great user engagement. There are two options for subscriptions: non-renewable and renewable. In the first case, users pay for the app once and use it for the entire subscription period. In the case of a renewable subscription, users have to pay for the subscription and renew it at the end of the selected period. This model is often implemented by streaming services such as Netflix and Disney.
• In-app purchase monetization model allows users to buy both physical and virtual in-app items. This option is especially beneficial for mobile games. When implemented correctly, in-app purchases result in a win-win for both the business owner and the user.
• Freemium model allows users to download the app for free, but they need to pay extra to get access to premium features. If you want to adopt this model, your app should be highly engaging to attract new users and make them want to pay for additional features.?The advantage of this monetization method is that users have the try-before-buy option.
• In-app advertising monetization strategy provides a wide range of ad formats that allow app publishers to profit by placing ads in their entertainment apps and effectively reach their target audience. However, ensure ads are relevant and target a specific user base. Poor-quality or irrelevant ads can lead to ineffective user engagement strategies.
• Rewarded video ads format is simple — reward users to watch ads. This solution allows you to increase retention and session length. For example, the reward might be something that provides users an advantage, such as in-game currency, extra lives, or moves. Then they can then use this prize to progress through the game. OpenX marketing platform reported that 77% of users are willing to watch a 30-second ad if they are rewarded.

How to Attract Customers to your Entertainment Application

Once you have determined the target audience for your entertainment software, you should think about how it will engage users. Only then after, we recommend you to apply to a software development company. To win the customers’ attention, you can use one of the following tips.

Ensure your App Runs Smoothly

The competition in the entertainment software market is extremely high. So make sure your app runs smoothly before launch day.

In the case of entertainment apps, you may want to consider developing an MVP app first. Your app will have only basic features, but it will run seamlessly. Later on, you may consider adding advanced features.

Provide a Seamless User Experience

Do you know that about a quarter of users abandon an app if the UI and UX design doesn’t suit them? The first user experience should be on your list of priorities. Critically evaluate your app, and make sure it’s user-friendly. Include a quick tutorial in your app to help users understand how an entertaining app works. But allow users to skip it if they are already familiar with your app.

Make Registration Clear and Simple

About 86% of users say they are bothered by having to create new accounts. They usually prefer to abandon the app if the registration process is tedious or takes too long.

That’s why you can add a social login option that allows users to log in to the website or app without creating an account. Instead, they use their credentials from Facebook, Twitter, or LinkedIn. This concept will make it easier for users to access your app or website.

Add Social Features

Including social features into entrainment apps offers multiple benefits for both developers and users. For example, social features increase user retention rates and enhance monetization models. In addition, social features ultimately increase the app’s visibility and attract new users.

Why Build Your Own Application for Entertainment?

Increase User Engagement

With the app, you can directly reach your target audience and showcase your top content with an eye-catching display that encourages users to browse more.

An effective re-engagement push notification can help you get users back and increase your app’s retention rate. And built-in social features provide your users with a convenient way to stay connected and discuss whatever they want to talk about.

Monetize your App

Your entertainment app can support multiple monetization strategies based on the business model they follow and the profile of their audience. Some of the most widely used strategies include In-App Subscriptions, In-App Purchases, In-App Advertising, and Rewarded Videos.

Create Omni-Channel User Experience

Instead of thinking about desktop, mobile, or tablet software, you can choose an omni-channel experience that allows customers to use whatever they want.?This way, your entertainment platform will support all the devices your customers expect: Amazon’s Fire TV, Google’s Chromecast, Apple TV, etc. Omni-channel experience takes into account each platform and device that the customer will use to interact with the product, and creates an equally effective and satisfying experience across all platforms at the touch of a button.

Set up Hyper-personalized User Experiences

Keep track of your customers’ favorites and use AI recommendations to offer additional content that may be of interest to them. Create a content wishlist for them to save their favorites for later. And note, the more time they spend on your product, the more opportunities you have to grow your brand and increase your revenue.

What Type of Apps in the Media and Entertainment Industry Can You Create?

Well, that’s up to you. Consider which option is the most suitable for your business? It could be an iOS or Android music streaming app. Social media app or Progressive Web App (PWA). Or even desktop broadcast video recording and live streaming software.

Amazing Entertainment Apps designed by VironIT for your Inspiration

To help you in software development, we have gathered apps for the entertainment industry developed by VironIT that showcase the mastery of UI and UX design. Feel free to choose your favorite software development concepts and implement them in your unique and innovative application.

Video Content Aggregator App

The streaming video market is overcrowded with content providers offering their applications. As a result, users have to browse through many sources to find relevant content. This process becomes tricky and time-consuming.

That’s why the client entrusted us with the development of an application to simplify the process of finding video content.

As a result, we developed a video content aggregator application with a convenient search option that combines data from different sources into a single database. It helps users find any movie, TV show, or sporting event from streaming providers such as Netflix, Amazon Prime Video, Disney Plus, Apple TV+, and more. The service also provides complete pricing information for each option.

Music Video Network

The challenge was to develop a music social network that makes it easy to create, share and discover professional-looking videos that can be shot in seconds.

Users are given the ability to record multiple tracks, just like in a professional studio, and then instantly edit at the touch of a button.

If they’re not performing an instrument, they can select their favorite song from their phone and dance along, sing along, or perform a multi-track a cappella song.

AR Fitting Room

The challenge was to create an AR app that allows customers to see an accurate reflection of what a particular item will look like on them.

We brainstormed different ways to solve each pain point and created a virtual fitting room application. This project is built on the most sophisticated technologies: augmented reality and Microsoft Kinect. Augmented reality enables the customers to select a piece of clothing without having to try it on physically.?As a customer, you see yourself on-screen with a 3D copy of a dress. Kinect is used to take a scan of a body, then they can apply their choice of attire on a screen, letting them quickly check out how a piece of clothing looks on them.

Interactive Crime Novel

This project is a game in the crime novel genre, where the player has to solve countless mysteries and experience an adventure in an authentic atmosphere of the time. The game’s main storyline is linear, but there are many parts, such as mini-games, scenes with hidden objects and more.

The game was created on the Unity game engine using the C# language. We developed a unique design and added gameplay mechanics for the most player involvement. The basic game logic was created using external documents, which are converted into runtime scripts and form a complete game.

Swingculture Dating App

The customer’s goal was to create a dating social network that offers more than simple swiping. It also contains other capabilities like video meetups and security checks. This app should help people create relationships of any kind, even just friendships.

As a result, we developed a social media app with elements of a dating app. It allows users to search for a partner, chat, add friends, publish photos/videos, and view photos/videos of friends. People can sign in via email, phone numbers, or social media accounts. During the registration process, they answer some questions about themselves, their hobbies and interests. The application is available by subscription.

Transform Your Entertainment Business Today

Almost every successful media and entertainment business is looking for new ways to increase its brand awareness, attract a larger audience and increase revenue.

If you also want to achieve new levels of effectiveness through custom media & entertainment software development services, please do not hesitate to contact us.

Our cross-industry experience allows us to more accurately define what can bring the greatest value to an entertainment project. We are well aware of trends and can apply unique approaches that will help you stand out from your competitors’ solutions.

Source: https://vironit.com/entertainment-industry-software/