Creators in the entertainment, gaming and media industries must figure out what kind of content their audiences want or risk losing them, an industry veteran warned.
Because of the internet, people are getting used to the idea that they can choose the kind of content they want to consume, so they're less interested in settling, according to Steve Gray, CEO of Asteri Networks.
"It used to be, when there was one movie studio or three TV stations or something, you kind of had to take whatever you get," he told CNBC at the Credit Suisse Asian Investment Conference. "People now, because of the internet, and all this access to content, I think they're starting to reject that model."
Indeed, companies like Amazon and Netflix have made inroads in the media and entertainment industry, while Tencent is shaking things up in the gaming space. That has led to traditional incumbents rethinking their business strategies.
Gray previously worked in special effects as well as the video and online games industry. Most recently, he was in charge of production at Chinese tech giant Tencent's interactive entertainment group.
"The content creators are going to have to be a lot more careful about working with their audience to actually figure out what people want," he said, adding that, otherwise, people would turn to alternative platforms like YouTube.