CMGT/557 Emerging Technologies and Issues
October 10, 2011
This document will present a technology that has changed the way society sees the movie and TV industry. This paper will present details of how this technology impacted its industry, how it is used, how people, and competitors reacted. Examples will be provided of similar scenarios and what new opportunities this technology has presented to its market, plus how the government and legislation reacted toward this new technology advancement.
Technology is a powerful tool that over the years it has evolved continuously providing the human with new options to be more precise in every aspect. Technology not only provides us with new emerging advancements, but they also can make a whole industry change with one revolutionary creation.
An excellent example that can be provided of how technology can change an industry very fast is the online movie streaming sites and the self serve renting movie machines. These two different technology creations has come to make an impressive change on how the movie and TV industry currently operates compared to a few years ago. Many years ago the movie and TV industry was strictly dedicated to watching TV shows in the big old box we call a Television, and we could only watched movies at a movie theater or in the television. People would visit different store locations to rent their movies and watch them at home but things have changed drastically since then. These new technology advancements have changed how everything works, looks, and feels forever.
Before this new technology advancements were made, the consumers were happy with what they had because they did not knew anything else, but as the years past by and new technology innovations were created, it became a different ball game. Consumers have become amazingly aware of the changes that technology innovations have brought to them and how it has changed many industries in a positive way, and this makes them want to stay always up-to-date with the current emerging technologies.
The online streaming service has been already in the market for a couple of years, but it was never used for watching moves, gaming, and uploading videos as well. The online streaming services has changed how the users watch movies with new services like Netflix, Crackle, YouTube, and other applications that let the user watch TV shows, movies, and personal videos uploaded by individual users. This service alone has provided new options for the users because they do not need a Television to watch TV shows or movies, they can use a computer, IPods, or Smart Phone devices.
Although this may be something positive for the users, it is not always positive for the TV and movie industry because they lose customers every day. Over time their industry decided to join the movement, and many of these organizations have developed their own online applications to gain and retain the consumers.
In the case II-7 Digital Creation and Distribution of Music from the Strategic Management of Technology and Innovation (2005), the writer explains how the music industry was changed with new online technology programs that helped the user to create a faster, easier, and better quality product. The example presented above regarding the music industry was a game changer because it provided more functionality and opportunities for users who did not had thousands of dollars to spend in expensive equipment. This case is very similar to the one presented on this paper regarding the movie industry because the users are trying to find better and cheaper options to save money....