How has technology changed the entertainment business over the past decade?

Storytelling has been around forever.  People have always needed entertainment but the way in which people experience it changes with time.  We have live theater, radio, film, television, iPods, video games, etc.  Hollywood entrepreneurs can’t just consider themselves TV writers or feature producers.  The creative teams of the future must be able to adapt into any of these fast evolving entertainment channels.  Stories that traverse all types of media are now called transmedia.

Transmedia is incredibly important because every one of these types of media channels relies on a different kind of consumer.  The movie industry needs the type of consumer that wants to leave the house.  The TV and video games industries want the consumer to stay home.  Meanwhile, the internet distracts people from all of these.  Companies are struggling to hold on to peoples’ attention in a world where consumers have plenty of things to do with their time.  People are now spending more time at work and have higher bills to pay.  Time is becoming more and more precious.  Young people are multitasking, participating in many activities at the same time: texting, watching TV, listening to music, Facebooking and browsing around the web.

Companies now have to create something entirely new like Avatar that raises the bar and “changes the game”.  Avatar is a piece of visual entertainment that is best enjoyed in 3D IMAX, at least until 3D televisions introduced this year become mainstream.

Technology is evolving faster than ever.  If we can think it then you know silicon valley is already developing it.  How can the business use all of this new technology?  The key is to figure out how to adapt it instead of fighting it like the fledgeling music industry.