4 Industries that Experience More Success in the Digital Environment – Floridanewstimes.com

Technological advancements and innovations in the 21st century have forced various industries around the world to adapt their services to digital or get left behind. No matter the popularity of a business in todays environment, those that do not have a virtual aspect to their brand can be at constant risk of losing their customers to competitors who do.

Fortunately for some sectors, these adaptions have proven to actually promote greater success and growth in their businesses than before. In this article we take a look at a few industries who have been able to expand their reach and influence thanks to digital technology.

The Media and Entertainment Industry

Its 2021 and by now the majority of households pay for at least one video streaming subscription, if not several. However, this revolution in the media and entertainment industry was not always so, as before streaming reached widespread adoption, it was popular to rent movies from physical stores like Blockbuster and kiosks like Redbox.

This has all shifted with Netflix, one of, if not the most frequently used streaming service, with their figures showing a consistent rise in revenue year-after-year. When the company started out, they were sending DVDs through the mail to customers who were ordering them online. But the eventualtransition to a full digital service has completely changed the game, with other companies like Hulu, HBO, and Amazon Prime following suit.

Video streaming services like Amazon Prime, Netflix and Hulu have experienced massive growth in the past decade

The Casino Industry

With various improvements in the field of technology, the casino industry has also flourished in the digital world. Nowadays, gamers are no longer limited to brick-and-mortarestablishments whenlooking to enjoy their favorite slot machine titles or table games like blackjack and roulette. With access to the internet and a secure, regulated platform, the vibrant casino experience is brought directly to the user.

In fact, the industry is poised to expand with a compound annual growth rate of 11.5% from now until 2027. Whats more is that developers have made sure these gaming sites are user-friendly and filled with casino games of different types so that players have access to all the same activities they would in a physical space. Other tech innovations from Virtual Reality to Big Data, Facial Recognition Systems and more, add to the overall immersive casino experience online.

The Newspaper Industry

Its no surprise that the newspaper industry has experienced much more growth since going digital. After all, how many people do you know still receive physical newspapers through subscriptions rather than reading the daily news online? When looking at the worlds top news companies like the New York Times, for example, it becomes blatantly clear how crucial digital adoption is for growth. And as companies get better at publishing content online, an increase in revenue is inevitable.

Last year, the New York Times reported their biggest jump in digital subscribers with 393,000 new customers, bringing their grand total toover six million. Although the Times is just one example, countless other newspapers have experienced the benefits of prioritizing online news as opposed to print.

Nowadays, the act of reading a physical newspaper has largely been replaced with scrolling through news articles on a mobile phone or tablet

The Financial Industry

The financial industry has also been led by tech innovations in recent years. One of the biggest ways technology has helped people bank is through the use of money transfer applications. These services make it possible for customers to access their money and make simple transfers with ease. Some of the best peer-to-peer payment apps include PayPal, Venmo, TransferWise, and Zelle. Within seconds, these applications facilitate big and small money transfers, even internationally, while keeping your information and data secure. As time goes on, there will undoubtedly be more tech trends in banking that make peoples lives easier and financial tasks more efficient.

Read this article:

4 Industries that Experience More Success in the Digital Environment - Floridanewstimes.com