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The Entertainment Industry And Its Impact On Economy

The companies that create products related to these industries are worth billions of dollars. These companies have invested in the research and development of different technologies in order to meet the ever-growing needs of the industry. These advancements are in graphics, development of latest gadgetry and exploring new ways of attracting more people towards their products. The filmmaking industry is very large as compared to all the other industries. Movies are the most popular form of entertainment of the 21st century. This type of entertainment is popular among all age groups and filmmakers try to cater to the demands of their target audience. Filmmaking is also used for education purposes and highlighting social and political injustices. The highest form of art is though considered theater but in today’s world, people have become less and less interested in theater (unfortunately).

The video gaming industry is an emerging one that sister industries often consider a threat. The introduction of technologies like Wii gaming has gained a huge market share. Members of the family can engage themselves and spend quality time playing video games not to mention that the way that these types of devices help them interact is certainly not something our ancestors used to talk about. It is fresh, it’s interactive, it’s interesting – entertainment all the way.

The small screen is now a household item. Everybody has their favorite series and recent trend of reality shows have glued people to the television or computer screens. Therefore, television should be watched in a very controlled fashion. It can be a good source of healthy entertainment.

The real fun of watching your favorite sport is watching it in the arena. The prime source of revenue of the sports board is via ticket sales. Hosting these events involves many stages and a huge money flow. The arena building, contract for its ornamentation, the food suppliers, animated advertisement boards, telecast rights and product merchandise are all part of this single activity. The sports entertainment industry has swollen with passage of time and it is still expanding.

These are some of the aspects of the entertainment industry that have a severe impact on the economy. A single sport event can bring a lot of economic activity to the whole city, which results in circulation of millions of dollars. Therefore, I will leave it to your imagination to wonder what kind of impact every single sport event occurring across the globe would have on global economy.

Source by Johnny Wax

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