Which Industries Have Seen More Success After Going Digital?
Source: Pixabay
Digitization has immensely impacted the worldwide economy since its onset in the 1950s. In 2021, mobile technologies alone generated $4.5 trillion of economic value; this figure is expected to grow by $480 billion over the next two years. Over the years, some industries have adapted better than others to the digital revolution, and this article will explore a few of these sectors by looking at specific companies in detail.
Gambling
Many companies that dominated the traditional gambling landscape have transformed into online powerhouses. For example, Paddy Power is a gambling company that began by merging in-person gambling shops in the 1980s. Today, gamblers can play bingo at Paddy Power from their homes, gaining access to live bingo games and jackpot bingo games, all while taking advantage of welcome offers and bonuses that aren’t typically available at land-based gambling shops. Other online gaming options are available such as poker and blackjack. In particular, online casinos have benefited from the change in consumer behavior that digitization has created, such as the desire for consumers to have more convenience and flexibility in how they choose to entertain themselves.
Automobiles
Audi is a German automotive manufacturer that specializes in luxury vehicles. For years, Audi showrooms were full of some of the company’s most expensive and luxurious cars for consumers to see and touch in hopes of persuading them to buy one. Audi began incorporating digitization into its business model in 2012 when it introduced Audi City. Audi City is a cyberstore experience in different city centers that lets shoppers browse car models digitally. Not only does this make Audi a more digital-friendly brand, but it also means the company is using tactics from experiential marketing. MailChimp states experiential marketing is a fun way to engage consumers.
Source: Pixabay
Entertainment
ITV is one of the biggest media companies in the United Kingdom. However, the established success of ITV hasn’t stopped the company from paying attention to market trends and seeing where it can use the popularity of emerging digitization patterns to its advantage. For instance, one way ITV has done this is by launching its online video-on-demand streaming service, ITVX. The service, previously known as ITV Player, was established in 2008 before getting a revamp in 2015 and launching the ITVX that’s around today in December 2022. The service directly competes with the digital offerings of networks like the BBC.
In 2021, roughly 16 million households in the UK had at least one subscription service. While Amazon Prime takes the crown for the most subscribed service in the UK, ITVX is rising in popularity. As of December 2022, ITVX had around 37 million users. Some of the most popular TV shows on ITVX include One Tree Hill, Without Sin, A Spy Among Friends, and The Vampire Diaries.
Adapting to the digital world hasn’t been easy for every industry and company. However, some have taken the transition well and had additional success because of it, and this is particularly true for industries like online gambling and entertainment.
