Entertainment Industry and Venue Management: Trends and Impacts

This report analyzes the entertainment industry, focusing on trends, funding arrangements, and the impact of technology. It explores the current state of the industry, examining the influence of social media, digital marketing, and event technology. The report also investigates how funding models affect the industry and the shift towards new management skills due to technological advancements. It covers areas like competition, uncertainty, diversification, and the impact of external policies on customer and employee relationships, providing a comprehensive overview of the key factors shaping the entertainment and venue management sectors.

The Entertainment
Industry and Venue
Management
(TASK 4)

Table of Content
 Analyse current trends in the entertainment and venue
industries
 Effect of current funding arrangements
 Impact of technology changes

Analyse current trends in the entertainment and venue
industries
Their are many changes in
entertainment and venue
industries due to dynamic
changes in environment.
The new technologies and
trends helps to do planning
with more ease and it is
more secure. These act as
powerful tool for brand
loyalty across the globe.
Herein, are some of trends
concerned with
entertainment and venue
industries which are defined
below:-

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 Shareable content - Social media platforms and digital
marketing tools plays major role in the entertainment and
venue industries.
 New Marketing Strategies - The new strategy adopted by
these industries is Drip marketing. This refers to
introduction of new content, information and relationships
so that guest are easily involved in the event.
 Event Technology - Their are new technologies
concerned with entertainment and venue industry.

Effect of current funding arrangements
Funding arrangements refers to grant which is designed to
support business organisations or particular activity. This can
be operated at any scale from localised and small grants for
supporting major infrastructure projects. For entering into
funding arrangements the essential step is to understand the
underlying nature and purpose of arrangement so that
expectations are clear for arrangements which can be managed
and structured properly.

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Impact Of Technology
Their is huge impact due to technological changes on the
management and operations related to entertainment and
venue industry. The need will arise for new types of
diplomatic, social, and managerial skills. Also, their must
be changes in decision making process because now this
cannot be utilised any more.

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Their are various aspect in management and operations
which are affected by changes in technology which
comprises of level of competition, their will be increase
in uncertainty, their will be requirements for
diversification and higher quality in the organisations
products and services of entertainment industry, their will
be rise in complexities in external policies and legislative
reforms. Each of these factors will effect the structure
and relationship between customers and employees.

REFERENCES
Lim, S. K., and et.al., 2013. Entertainment lighting control
network standardization to support VLC services. IEEE
Communications Magazine. 51(12). pp.42-48.
Miller, P., and et.al., 2016. Patron banning in the nightlife
entertainment districts: a key informant perspective. Journal
of studies on alcohol and drugs. 77(4). pp.606-611.
RUSU, S., and et.al., 2014. Hospitality industry and tourism.
Lucrări Științifice Management Agricol. 16(4). p.1.