Entertainment lawyer Tisha Morris predicts streaming platforms will license more shows like Suits and Schitt's Creek, live events will surge across Max and Prime, and smaller budgets will split between human-made narrative content and AI-generated material. She also sees consolidation across tech, sports, and entertainment, plus a push toward games-to-screen experiences and metaverse events.
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Hey TikTok, this is Tisha with Entertainment Law, and I have my 5 predictions for the entertainment industry in 2024. All right, the strikes are over, but the hangover is very strong. All right. The streamers are trying to figure out how to make this business model work this year. So we're going to see a lot, a lot of changes in how entertainment is, is delivered. So this is going to really affect— we're really going to see as consumers the lack of programming and really the effects of 2023 this year. All right, so coming in at number 5 is more licensing. Okay, we're gonna see more licensing from streamer to streamer. Um, Suits really is a great example. I think we're gonna see more of that where the streamers kind of work together, find new audiences for their streamer so that they don't have to keep creating so much original content. Uh, not that licenses are cheap, but if you can find a diamond in the rough like they did with Suits— they did it with Schitt's Creek a few years ago— that will save them money. All right, coming in at number 4 is more live streaming. All right, we're already seeing this with sports. We got NBA on what, Max, football on Prime. I think we're going to see this trend more and more, but it's going to also be in all, um, all type of live events. Okay, whether it's a concert or bowl games. I would love to see award shows streamed. That might not happen this year, um, but, uh, the streamers being more creative and grabbing live events. Okay, coming in at number 3 is more mergers, consolidations, buyouts. Okay, but this is not— but not in the way that we typically think. I don't know that so much could be entertainment company, entertainment company. Not that I would rule that out. Max and, um, Paramount are in talks, uh, but I think we're gonna see more non-sector companies coming together. So definitely more tech, entertainment, perhaps sports companies. Gaming companies. We're going to see more emerging sectors to create these kind of big companies that have, that have tech and sports and all kinds of components to it, maybe even some hardware with gaming and such. So look out for that. All right, number 2, smaller budgets. So this isn't so much a prediction, but But I think where it's gonna take us is here. It is gonna become a polarity in the type of content that consumers want. We have on one hand the very real people narrative-driven scripts. We're already seeing some great scripts come out of, they're coming this right now with the Oscar and Golden Globe nominees, some great human-driven stories. But I also see on the other hand these AI, we start to see the fruits of the AI world in entertainment with these AI-generated characters, worlds, fantasy, animation, and really start to see what AI can do with entertainment. So you're going to find two audiences kind of being pulled in both directions, I think proportionally so, each finding the audience that it needs and wants. So I think we're going to see the AI, you know, its effects in the industry. And I think you're going to see the polarity in those two, um, those two preferences, really what it comes down to. Okay, um, this leads me to number 1, and that is more games to screen. Okay, more games to screen. And but, but not just games, um, uh, the metaverse coming into entertainment. All right, um, this also brings in Another point, maybe another prediction, and that is the theater industry. And it's going to really suffer this year because there's no Barbie, there's no Taylor, um, the big budgets didn't get made, um, or being put off until 2025. And so I'm concerned about the theater industry. I'd love to see an Amazon or someone come out and, and turn theaters into an entire entertainment experience to kind of revitalize the theater industry. And so this brings me back to prediction number 1 about more gaming and entertainment and these live— and also the live experiences. I think the metaverse is going to finally come into our everyday. We're going to start to see the, the merging of AI, NFTs, the metaverse, this whole— all these components we've been hearing about and get snippets of. I think they're going to finally come together And we as consumers are going to finally have those experiences. And so you're going to see more live experiences in the metaverse, also just movies and entertainment in the metaverse. And you might need an NFT ticket, who knows, to get there. So I think it's going to be an exciting year for all the changes that are going to be happening. But I think it's going to be a very fluctuating year. I think 2025, we start to— we come to a new world in entertainment, honestly. And I think that's what this year is all working towards. So stay tuned. If you have not subscribed my channel, please do, and I'll see you soon.
