The entertainment industry is perhaps the most glamorous and interesting of any industry on the planet. It certainly beats out the chemical waste disposal industry, that’s for sure. As a result, thousands of entrepreneurs are piling into the space, looking to find new value wherever they can.
With so many people interested in the sector, things are getting a little crowded. So where are the best opportunities? Let’s take a look.
Social Media Management
Right now, something like 50 percent of American company’s net worth is tied up in their brands. As a result, companies are looking to pay big bucks to anybody who can protect their reputation online. According to the latest figures, the “online reputation market” is now worth more than $4 billion, and rising. Around a fifth of companies now use some form of reputation management to keep their brands safe.
It’s no surprise, therefore, that entrepreneurs are rushing to fill this niche. Companies need people they can trust to sustain their online reputations and keep their brands strong. What’s more, maintaining a good reputation online doesn’t require a PhD in computational science. It just requires a little common-sense and know-how on social media platforms. In other words, the door is wide open for new entrepreneurs in the field.
With drink driving rules being so strict there’s an opening for entrepreneurs in the party/chauffeur space. Entrepreneurs are dreaming up ways to better serve party goers while also making a little bit of money to boot. Right now, party buses are a hot idea. Party buses transport people from one location to another in style. But they do so without many of the restrictions of a regular taxi service. Clients get more space, and they get somewhere they can party, even when it’s raining outside, or they’re in the middle of nowhere. GOGO Charters teaches how to start a party bus company, for those who want to do further reading.
Video Editing Services
The video editing industry used to be niche. But with the rise of social media and YouTube, everybody has become a broadcaster. Entrepreneurs know this. And now they’re able to offer professional level editing services to people who are rank amateurs.
There’s a growing need for it too. Success on YouTube isn’t as straightforward as it was five years ago. For content to get noticed, videos have to be high quality and well produced. Most people just using their smartphones are unable to generate a level of quality that the community demands.
Recording studios have come on leaps and bounds in the last five years. Only a decade ago, recording studios got most of their business from big corporate clients and recording artists. But today, as with video editing, there’s a big market of amateurs out there too.
The upfront costs of starting your own recording studio range from $10,000 to $50,000 depending on the quality of equipment. But the ROI right now is good, thanks to the high prices recording studios can charge.