KJ Dhaliwal is an accomplished entrepreneur and venture investor. He’s currently the CSO of Social Discovery Group and founder of Dil Mil.
The online entertainment industry has seen unprecedented growth in recent years. Whether listening to music, watching movies or playing games, more and more people are turning to the internet to have fun.
They are no longer just entertaining themselves; they are turning to the platforms that enable them to interact with others socially and in real time. According to research by Deloitte, nearly 48% of people under 42 now spend more of their social time online than off.
This has led to a convergence where dating, gaming and entertainment no longer stand alone as separate platforms. Instead, they are all becoming integrated, creating a unique convergence shaping these industries’ future. But what does that mean for business?
The Convergence Of Industries
Dating and gaming have already started to converge in significant ways. For example, Bumble’s “Night In” feature lets users play games together while on virtual dates. The dating app LOLO helps people start conversations and create deeper connections through icebreaker games and quizzes. Magnet, which my company has invested in, also offers a dating game. These apps have gamified the dating experience in various ways by adding features such as quizzes, timed matching and virtual gifts.
By adding game features to their apps, dating companies are creating immersive experiences that allow users to do more and feel more engaged while using their apps. Moreover, the gaming industry has also begun incorporating dating and entertainment into its titles.
Sometimes controversial, visual novel games such as Dream Daddy, Monster Prom and others offer dating simulators that allow players to date virtual characters. It’s also now common to see dating emerge within online role-playing games like World of Warcraft and The Elder Scrolls. Players can enjoy gaming and dating under one platform.
On the other hand, the entertainment industry has also begun integrating gaming and dating features into its streaming platforms. On Twitch, for example, gamers stream their gameplay live, and members of the Twitch community can also join in and influence how the game is played. Others use features like in-game polling and minigames to connect with their viewers interactively, with some users having even married through the platform.
Likewise, the rise of VR experiences have converged music concerts with social interaction. Platforms like VRChat and Sansar allow users to create their avatars and join virtual worlds where they can attend live concerts, chat with other users and go on virtual dates.
These experiences offer new possibilities for socializing and entertainment and appeal to users looking for more immersive and creative ways to escape the physical world’s limitations.
What This Convergence Means For Businesses
The convergence of these three industries opens up several new business opportunities, including:
• Increased customer engagement: Businesses can keep their customers entertained for longer periods, leading to increased brand loyalty and customer retention. Adding gaming elements to some of my company’s apps has resulted in an increase in usage time. HackerNoon did a great deep dive on the impacts gamification can have on dating apps.
• Deeper social connection: Humans are social creatures and this convergence allows businesses to harness the power of social connection. It creates a sense of community and shared experience that drives engagement and fosters long-term relationships. For example, Twitch has created spaces for people to connect over their interests.
• Expanded audience reach: Platforms that combine dating, gaming and entertainment can tap into multiple audiences at once, expanding their reach and increasing their potential customer base. This is particularly true for dating apps with a larger pool of customers.
• New monetization opportunities: Combining industries also opens new monetization opportunities. It allows industry-specific platforms to offer a variety of paid features and incentives to keep customers engaged and invested. Organizations can also cross-promote and expand revenue generators like in-app advertising.
• Diversification: Businesses can also diversify their offerings. For example, Zoosk has created a separate platform called Lively, which focuses entirely on livestreaming. Similarly, the popular dating app Badoo has Badoo Live. By diversifying their offerings, businesses can attract new user segments and generate additional revenue streams.
• Enhanced data and analytics: Combining industries also gives businesses more data. This can help them create targeted marketing campaigns and personalized in-app experiences. For example, Fortnite uses in-game analytics to create customized challenges.
What The Future Might Hold
The future of the convergence of dating, gaming and entertainment will likely be shaped by several factors, including technological advancements, cultural norms and user preferences.
As technology evolves, expect to see more sophisticated and immersive experiences that bring our digital and physical lives closer together. Because of this, the future of this convergence seems promising. But it also presents a number of challenges, and companies should be aware of these concerns.
The handling and protection of user data, for example, is a top concern for consumers and regulators alike. As such, it’s crucial for companies to understand their legal obligations and take precautions to safeguard personal information.
Some also believe there will be negative impacts on users’ mental and emotional well-being. Mental health leaders have warned that things like the gamification of dating will harm users’ chances of finding love.
While the convergence of these industries will bring both opportunities and challenges, it’s important for companies in all three spaces—dating, gaming and entertainment—to keep up with these trends and to understand consumers’ wants and needs. Only then will the sectors be able to take advantage of these opportunities and to have the best chance at success.
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