Technological progress in Australia. How did the entertainment industry get to this point?
Australia’s technologies are experiencing overwhelming growth and undergoing the stage of innovation and expansion. This is especially true when it comes to digital technologies! This sector generates approx A$122 billion to the Australian economy annually. It’s hard to imagine but this figure is expected to grow up to 40% in 2023. The online entertainment industry is now the third largest one out there. It is not surprising that major online casinos are Australian. If we’re talking about Australian online casino free spins, you just can’t pass them by. Let alone, other bonuses! So, let’s see what’s going on in this industry.
The entertainment industry in Australia. What is happening to it?
Australians love entertainment big time. Indeed, this industry is now larger than ever before. It grows to 3% each year and ultimately contributes to the economy nearly A$36 billion.
However, the overall state of the industry directly depends on the volatility within it. As you can see at https://www.cnn.com/2014/11/06/business/entertainment-industry-digital-tech, not all sectors of the entertainment industry have grown equally. Some forms of traditional media might even be declined. So, in order to help you understand the big picture, we’ve defined six trends that are shaping it:
1. The entertainment industry is growing exponentially
2. Online casinos contribute to the Australian economy significantly
3. Online video grows more than other sectors
4. Video games generate more revenue than movies and music
5. The laws in the field of entertainment are under a significant reformation
6. Most entertainment revenue comes from smartphones and the apps they support
The pros and cons of rapid development
The pros of the fantastic growth of the online gambling sector in Australia require significant legal changes. Legislators are trying to keep up with advanced online technologies.
Truth be told, one of the greatest challenges the Aus online casino sector has faced in recent years is developing and implementing legislative frameworks. It should settle the balance between safe gambling online and innovation in this sector. This is of importance not only for players that hope to catch luck in plenty of online casinos but also for Australia, as it helps them hold the position of a gambling hub in the Asia-Pacific region.
Conclusion
That being said, there is no doubt that Australians have an almost insatiable appetite for gambling at online casinos. And this is surely a major trend that will continue to shape the future of the online entertainment industry on the continent!
