Video games, another example. Though it looked like things were going downhill for the whole industry once Atari reached it's low point, Nintendo came around and reinvented the whole industry.
Arcades were popular for such a long time, as they offered the latest, most advanced games to be played.
Now the gaming market has advanced past what they generally have to offer, and as such, the Arcade market has gone downhill.
However, what new things will we see as thriving within the next 10 years?
I'm not going to be so bold as to pick what I think will become the next household must. But here are some of my ideas:
With the newer gaming systems available, which allow for independent game developers to have their work showcased for download. I feel there will be a greater growth in independent game developers for a while, which will eventually lead to new gaming companies (Kind of like Sato and Yamazaki's dream in Welcome to the NHK.)
As technology progresses, the possibility for independent animators to flourish is also becoming more likely. Something like flash animation is often done with with cardboard like characters and repeating motion tweens. However, seeing shows such as Superjail! I've realized that profoundly well animated shows are capable of being made with this, and similar mediums.
With digital cable, many now have nearly 900+ channels. I wonder how long it will take before independently run channels will become possible. Youtube bridges such a gap now, with the vast availability that the rapid increase in technology, much is and will soon become available.
With High-Definition becoming the new standard for quality. I'm sure it won't be long before the general cable connections most of us have will dwindle out similar to that of Dial-Up, while the newly introduced faster connections will become mandatory.
The fact that gaming systems can now accesses the internet, it wouldn't surprise me if the separation between gaming systems, the internet, TV and computers merge more so than they already have.
I feel many long standing channels are at risk for being one-upped by a new network.
For instance, Nickelodeon. At one point, they took chances, even though they were a kids network, shows like Ren & Stimpy were played, and many of the kids shows they featured, adults could still enjoy. (Compare the first few seasons of Rugrats, to what they eventually became and you'll see a good example.)
If another network becomes available enough, this giant could easily have a run for it's money and need to result in some drastic measures.
The same goes for any other stagnating network.
With the US slowly sinking as a world superpower, things will no doubt become harder and harder for those of us State Side. Many major corporations have already gone under, things are uncertain, therefore better understanding such trends could help many of us in ways aside from just the Stock-Market.
Taking into account the economic crisis at hand, a contradiction to all that I've written is that the entertainment business will face some challenges, as the desire for more frugal spending could cause an increase in things that are practical, as opposed to that which could be viewed as frivolous.
What are some of your ideas?