The global corporate entertainment market to grow at a CAGR of 7.06% during the period 2017-2021.
Global Corporate Entertainment Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report also includes a discussion of the Key vendors operating in this market. To calculate the market size, the report considers the total amount of money spent by organizations on corporate entertainment.
The latest trend gaining momentum in the market is Growing popularity of crowd-streaming. Crowd streaming is one of the upcoming trends in the corporate entertainment events. Facebook Live is a prominent tool used by event managers. This feature launched by Facebook helps organizations increase visibility through live uploads of corporate events. The users can broadcast up to 90 minutes of live shows on Facebook. The active users can access videos through streaming after the live broadcast. In addition, crowd-streaming helps broadcasters adjust the privacy and view settings. Facebook offers preference to streaming of live videos over other content, which leads to an increase in the number of views and helps organizers target a large audience.
According to the report, one of the major drivers for this market is Growing popularity of interactive videos. Interactive videos aid professional development. Skill enhancement programs featured through these videos facilitate distance learning. During corporate conferences and conventions, the organizers share content through interactive videos, which can be accessed by employees anywhere in the world. The content includes skill enhancement programs and study materials.
Further, the report states that one of the major factors hindering the growth of this market is Fluctuating consumer demands. Several companies that employ event management agencies lack demand forecasting tools. Understanding the consumer behavior is crucial for enterprises. The organizations should have knowledge about of the interests and preferences of their employees. For instance, companies can create portals wherein the employees can provide feedback and suggestions.