Technology has advanced, become faster, Internet access has become better, meaning every time you access Facebook or you access your favorite game, it’s going faster, it’s more secure, it’s more exciting. Finally, the companies that provide these services and these apps have figured out how to make more revenues out of them for the most part by using advertising. So social media is all advertising-driven. You don’t pay a subscription to be able to access your Facebook account. Yes, you may pay for some professional services, or some data related services such as professional level access to Linked In, the business social media site.
But for the most part, it’s free. Even apps, mobile apps downloaded for your smartphone despite the fact a lot of them are sold every year and a lot of them have a price on them, over 90% of app downloads are free of charge. Now let’s look at just a few highlights within each of these three sectors and let’s start with social media. As I mentioned a moment ago, social media is very much advertising, revenues-driven. In fact, Facebook is becoming one of the most important and dominant advertising media in the whole world all based on the power of its social media and its reach.
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But other things are changing within social media as well. For instance, messaging is changing very quickly. It may not be necessary any longer to go back to your smartphone home screen in order to send a message because there are now messaging tools within platforms like Facebook.
There are even messaging tools within a lot of apps. So this sector is having a lot of influence on what’s happening onboard smartphones and the future of smartphones because some of those smartphone functions are being taken away and used in platforms like Facebook. Also, purchasing is starting to happen a lot in platforms like Facebook. It may not be necessary to go to a retailer’s website to go through the shopping cart, etc.
It’s often now possible to make your purchase directly through Facebook. Two of the most important advances or changes in the world of business because of electronic online games are number one the sudden presence of professional, electronic game players and electronic online games becoming a spectator sport. It’s not uncommon now for vast audiences or stadiums to be filled up with people paying money to watch some of the world’s top electronic game players and some of those games are now being televised. That’s going to be a tremendous growth vehicle within the sports and entertainment sector. Meanwhile, games are having a big effect on training education. We’re starting to see “gamification” as it’s called built into serious educational platforms for use in all types of schools and in corporate training and personal education platforms.
One more comment about games, keep your eye on virtual reality and the way that’s going to rapidly change the entire game industry. Big companies like Google, Facebook, Microsoft are investing very heavily in virtual reality technology. It’s already become a platform that can easily be used with your smartphone. It’s going to be adopted into lots of games, and lots of apps for that matter. Now the last segment we’re going to talk about briefly is apps and the thing I want you to think about is the way apps are changing the way the consumers and business people interface with everything else.
Watch for instance as more and more online searches take place within apps. Watch as more and more online purchases take place within apps Lots of televisions now are watching what you’re going to view on your big screen TV through an app that is part of the homepage of your big screen television. Apps are slowly but surely, and in some areas, very quickly for that matter taking control of the way we interface with just about everything. Now that’s a quick view of the Games, Apps, and Social Media sector and how things are changing rapidly, things to keep an eye on for the next few years. For really in-depth information including the latest market size, the numbers.
Profiles of the leading companies, really vital data be sure to see our Plunkett’s Games, Apps, and Social Media Industry Almanac and related online research center at Plunkett Research Online.