What dictates consumers’ media consumption habits? And what can media and entertainment brands do to keep pace with these ever-changing needs? We explore that and more in our Social Media Industry Report 2019: Media & Entertainment. And we have a preview of the report for you below!
Media & Entertainment Brands Must Eat or be Eaten
Change is the new normal, where every industry faces potential extinction. Any business is one disruption away from being irrelevant. Or even just inconvenient – which can also be a death knoll.
And one industry that’s at the forefront of this “eat or be eaten” rush forward that all brands face – a sector that’s forced to reinvent itself more than most, is the media and entertainment industry. Here’s why:
- Global consumers spent more than 473 minutes a day with media in 2018
- Traditional media is on the decline, with only 26% of Americans still reading a print newspaper
- More than 211 million Americans use social network sites for their news, media and entertainment needs
- At least 55% of households subscribe to paid streaming video services, equal to 450% growth in less than 10 years
Consumers crave customized content – and they also want to be heard. More than ever, businesses find themselves on the wrong end of current (and even potential) consumers’ publicly voiced opinions.
And just because they’re online a lot, it doesn’t mean they’re easy to find. Consumers are not site agnostic and each brand – each show, to be a bit more relevant, has its own niche followers who do not make it easy to find and connect with them.
What the Consumers in the Wild Want
For the media and entertainment industry, this means finding where these folks are and developing an appropriately interactive presence. It also means developing both influencer partnerships and advertising opportunities on these particular channels. And focuses on fan favorites in a way that demonstrates exceptional viewer/consumer understanding, but doesn’t cross that overly promotional line.
So, who does it best? Well, we have more than 50 brands in our list, spanning the following categories (along with some highlights from each):
YouTube dominates the conversation in volume of mentions, but an unlikely ecommerce contender is capturing lots more love than either Netflix or YouTube! We also have insight around Disney Plus, DirectTV and others – and around how each is doing from a programming as well as consumer passion standpoint.
BBC may earn the most mentions, but it has a “bias” problem. And which network is trending negatively in response to inaccurate reporting and a poor casting decision? The insight shows us the sentiment powering a ratings dive – often before it happens.
The New York Times captures more than 26% of digital media mentions – particularly those related to a hot button focus of many online conversations – politics! Which digital zine garners the highest sentiment of all digital media and how is Buzzfeed faring in all of this? The power of consumer sentiment decides all. We’ll show it in action and how it affects the online process of each.
The NBA has top conversation volume – but why? And how does the sports conversation look online? We explore the Premier League, Australian Football League and Bundesliga to see which captures the highest sentiment, which the lowest – and why.
Here are the top three, which were sourced from all four areas, as an intro FYI. You’ll need to download the report to see the rest!
How did we come up with this top list? Good question, we answer that next!
Media & Entertainment Methodology
Our proprietary Brand Passion Index score looks at Net Sentiment and Brand Passion Intensity. Net Sentiment ranges from -100 to 100 and Brand Passion Intensity has a scale of 0 to 100, with 0 being least passionate and 100 being most passionate. This was combined with performance scores across the following key metrics – in context:
- Potential impressions
And the measures were taken over a year’s time, starting September 1st, 2018 – September 1st, 2019, in English only.
Beyond understanding passion though, we also surfaced insights with NetBase AI Studio, which uncovers underlying themes around any brand or topic, surfacing trends that drive consumer’s media consumption habits.
These and other programmed themes help brands capture a better understanding of how they perform across different KPIs such as “programming, app, cost and ease of use.” With themes, brands can dig deeper into context that’s driving industry-specific metrics.
Top Media & Entertainment Winners Have Something in Common
Brands that are adapting to today’s digitally driven world do well, while those who don’t are feeling the consequences and being left behind.
NetBase’s Next Generation Artificial Intelligence helps top performers in every category better understand audiences. In this context, it helps media and entertainment brands understand what content and programming is working, what drives them to download an app or visit a website, or what turns them off, which could equate to losing valuable subscribers and impressions and ultimately ad dollars
Download the report to learn all about the ways top media and entertainment brands are succeeding in social. And solid takeways that brands can add to their own marketing toolbox so they stand a chance in today’s hyper competitive digital environment.