5G Economics in Entertainment
According to the 5G Economics of Entertainment report, “Media and entertainment ‘experiences’ enabled by 5G will generate up to $1.3 trillion in revenues by 2028.” The high bandwidth/low latency technology is perfect for providing rich media experiences to consumer devices. After all, however great media content is – that means nothing if it’s frustrating to access, slow to load, or comes with buffering or lag times.
In emerging economies, mobile phone and cellular data use is increasingly common. More than 83% of adults in developing countries now have a mobile phone, with a smartphone being the most popular choice, giving them easy access to the internet from the palm of their hands, without the infrastructure requirements of broadband or local home networks.
What do these multimedia experiences powered by 5G look like? Let’s dive into some examples.
Augmented Reality and Virtual Reality
The potential of AR and VR hardly peaked at Pokémon Go. Mobile phones can be used to augment real-world experiences with contextual information that can help users to work, rest and play. In training for example, individuals could access an AR app that overlays a piece of machinery with labelling or a tutorial that walks them through set-up on-screen.
In education, VR via a cheap headset attached to any smartphone can be used to help students feel that they are walking the streets of Ancient Rome, exploring an Egyptian tomb, or even walking around the modern-day Louvre, all without leaving the classroom. Predicted revenues of Virtual Reality is $5 billion each year as early as 2028.
Haptics and Wearables
We love the idea of gaming and media brought to life with the help of fully immersive media experiences powered by 5G. Imagine being able to put on a connected jacket that mimics the sensations of riding in a race car, or gloves that allow you to “feel” your way through a jungle scene as an explorer.
Connected wearables could provide all the senses of an in-person experience remotely, with sensation layers allowing games providers or media suppliers to offer upgrades to those who want a premium experience. “Attend” a concert, a sporting event, or a theatre show from anywhere, complete with the vibrations of the speakers, the feel of the wind on your face, and the noise of the crowd.
Connected Vehicle Integration
In many cases, connecting media integrations with the driving experience will take media consumption to the next level. As the technology improves and infrastructure expands, locations will be able to offer 5G hotspots and high availability, so that movies and media can be consumed on the move, or rest spots can be scheduled to download content, access maps, or connect to other services such as emergency services.
As the roads themselves become more connected and integrated with traffic systems, vehicle data and third-party services, users can be given route assistance and planning, location-based suggestions for leisure and entertainment, or even provided with suggestions to alleviate frustrations, such as targeted media content that lasts for the duration of a period of congestion.
Get ready for a new era of digital advertising from big players and small players alike, as the playing field is levelled for two-way bandwidth with high performance and connectivity. We’re ushering in the ability for mobile ad campaigns to take on a new level of scale, delivery and analytics, so it’s no surprise that mobile display advertising is expected to be worth $178 billion globally by 2028. 5G will help it get there, supporting traditional advertising methodology to transition to social and immersive experiences.
Think better ability to advertise via videos, interactive and moving banners, in-game advertising, click to buy options and AR/VR use cases such as “try before you buy” or social integrations in new regions.
5G has Arrived – and Multimedia is Grabbing a Slice of the Action!
We’re so excited to see what 5G means for the multimedia industry, including smarter advertising, faster, more reliable and more immersive media experiences and new media use cases such as AR/VR and Haptic technology. First mover advantage will go to those who have their 5G infrastructure ready to hit the ground running.
Want to learn more about how 5G is set to revolutionize emerging economies across industries that range from finance and healthcare, to manufacturing and utilities? You’re looking for our latest white paper! Download it here..