The Role of Real-Time Tech in Revolutionizing Live Digital Experiences
The digital market is undergoing something of a renaissance in the 2020s. It all has to do with the broader reach of the internet. Since late 2019, or early 2020, more people have become internet savvy, and are discovering the new and exciting, digital-based market, that a lot of us have known about for years.
An excellent example would be the surge in online betting and gambling. The ability to wager on sports on the internet has played a huge role in proliferating both online bookmakers, and the sports themselves. The introduction of in-play bets, such as live sports betting with betFIRST, has completely changed the way that many view the industry.
As one might assume, part of the success of digital entertainment can be attributed to real-time tech, which makes merging live and online experiences possible. In this article, we would like to discuss why live entertainment has become such a massive success online. In order to do that, we must answer the question; what do we mean by real-time tech?
What is Real-Time Tech?
Simply put, real-time technology is any form of computing that allows hardware and software to run in tandem with a land-based clock. Or, to put it plainly, the person using the service gets a response from said service within a very short deadline. For example, a livestream service would be downright impossible without the idea of real-time tech.
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Livestreams allow a content creator to broadcast themselves on the internet, live. The system perceives and transfers their words within a time slot of milliseconds, to an audience watching from home. Not only that, but the viewers can also interact with their favorite content creator in real time, using voice, text, or even video chat.
Livestreams are an integral part of the online entertainment circuit, and without them, one would have to wonder if the sector would be as advanced as it is. But, now that we know what real-time tech is, the only question left to ask is; how has it changed the digital entertainment landscape? To answer that, we have to look at multiple factors and industries.
Immersive Experiences
One of the most obvious benefits that streaming and real-time tech in general has brought is the immersion factor, which was significantly lower in the internet’s early days. As an excellent example, we need look no further than the iGaming industry, which encompasses any and all forms of online gambling. The online casino market’s success has always been impressive, but, only recently have these sites grown to become multi-billion-dollar generating businesses.
Part of why gambling sites became such a hit was the introduction of live casinos. As the name suggests, the live option allows players to access their favorite game (blackjack, roulette, baccarat, and even poker sometimes) and play with a living, human dealer. The emulation of a land-based casino experience not only bolsters immersion, but also gives the same sense of camaraderie and socialization that brick-and-mortar gambling establishments might create.
The same immersive experiences have been replicated in the sports betting sector, which we brought up earlier. Online bookmakers have grown to such a degree, that many of these businesses are now partnered with big-name events in sports (the EPL, the NBA, the NFL, and more). Due to this mutually beneficial relationship, online bookies are actually capable of streaming a game in real time, giving fans an opportunity to place live wagers, while they are experiencing the action.
Simplified Transactions
One of the pitfalls of online entertainment, for a long time was the transaction process, which could take between hours and days. When thinking about it, it certainly makes sense. A transaction has to go through several authorities, all of whom must ensure that the process is running smoothly. If it was just one or two a day, it would be fine. But, billions of people worldwide are making digital transactions, daily. Naturally, there is a level of expectation that the payment will take longer.
However, with real-time technology, the process has been greatly simplified. For one thing, online markets have adopted new and exciting tools, including machine learning software, to help them detect any issues with a transaction much faster. On top of that, new payment methods make security a non-concern, as they’ve already implemented incredible safeguards against fraud. The main example in this case is cryptocurrency, particularly the big names, that carry a lot of credibility.
Speaking of e-commerce, real-time tech has also affected live video-based shopping. A lot of the time, stores display their products online, on a livestream. A salesperson then interacts with an audience, sharing the features of the item being purchased. With real-time tech, customers can get an idea about these products in different styles, colors, and more. Not only that, but the stores can seamlessly transition from one stream, to another, without much delay or hassle.
The Future of Content
Entertainment is changing rapidly, and in many ways for the benefit of the customer. Streaming is a very obvious example of that. Thanks to businesses like Netflix, Amazon Prime, or Disney+, fans of certain films and TV shows have a convenient and full-time access to these products. The same could be said of the video game industry. Online stores have managed to create a convenient way to purchase some of the best and most beloved titles on the market, without needing to step foot out of the house.
On top of that, online entertainment has never been more relevant. Digital content creators (YouTubers, Tik Tok stars, Instagram models, and Twitch streamers) are constantly seen mingling with Hollywood celebrities, famous singers, and more. Some of them are getting hundreds of millions of viewers, and when most kids are asked about their favorite celebrities, they talk about online creators, rather than traditional stars.
With all of that in mind, we can say with absolute certainty, that the future of entertainment lies in the digital landscape. Real-time technology is just a part of the foundation that is helping the market grow, and compete with more traditional industries.
