Digital
media and marketing have left the door wide open. The endless opportunities that digital media
has offered to the consumer have nerves bundled with excitement, confusion, and
with great anticipation of what the future holds.
Big
data collection of what consumers want and how to market via the second screens
(tablets, smartphones), particularly in real-time is the challenge.
“Free”
was the selling point for consumers that frequent YouTube and Hulu, which was
the basis for their popularity. According
to Accenture, consumers are now willing to pay more for quality digital
TV. Consumers’ interest in digital TV
opens up avenues for essentially everyone in the market (i.e., broadcasters, advertisers,
producers, filmmakers, actors and the list goes on).
Let’s
look at numbers
According
to Gigaom, digital media will rule.
• Globally,
digital media will account for 37 percent of advertising revenues by 2017, up
from 26 percent in 2012.”
• Internet
advertising will be the fastest-growing segment, at a 13.1 percent CAGR
• Video
gaming at a 6.5% CAGR and TV advertising at a 5.3 percent CAGR will also show
strong growth.
• Segments
traditionally related to print—newspapers, magazines and books—which will grow
by an average of less than one percentage point
•
By 2017, physical purchases will represent just 53 percent of
consumer spending.
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Nielson Ratings of Websites Top 3
out of 10 since March 2014
1. YouTube 154,528,000 viewers
2. Facebook 127,815,000 viewers
3. VEVO 65,591,000 viewers
Who
started it all?
YouTube
with amateur video showing and Hulu with premium video content streaming of
movies and television shows changed the way viewers watch television. Viewers watch movies and T.V. series via
Netflix other Web channels. The
attraction of the "on demand" feature of these shows lure viewers. The consumer can
watch their favorite shows whenever they want and as many times as they
want, it's called "have-it-your-way TV".
Consumer
interests in and demands for sites like YouTube and Hulu have given them the
shield of protection from Hollywood’s vehement attack on digital media with
costly lawsuits. Hollywood lost the
legal battle with YouTube and has jumped on the digital bandwagon by entering
sharing agreements with YouTube to place their branded content on YouTube’s
website (Kidane, B.).
What
does this mean for actors, other talent, agents, and managers?
Actors
and other talent promote themselves through social media (Facebook, twitter,
websites, blog). They have access to
casting directors, well-known actors, big name agents, etc., literally at their
fingertips. They no longer rely solely
on talent agents and managers for exposure.
Casting directors and agents have separate divisions/sections within their companies to surf the web for new talent.
Although, digital media has offered talent a platform to promote to the masses, agents and managers continue to have a role to play in the entertainment field. Guidance and advocacy are needed for talent as they spend time perfecting their craft.
Although, digital media has offered talent a platform to promote to the masses, agents and managers continue to have a role to play in the entertainment field. Guidance and advocacy are needed for talent as they spend time perfecting their craft.
Evolution is rapid in
the world of technology. It is highly recommended to stay abreast of the current trends in this fast pace business, embrace it or get left behind.
Kidane,
Blane. (n.d.). Digital Media – Shifting Entertainment Landscape. Retrieved 06/07/2014 from http://www-bcf.usc.edu/~ebayrak/teaching/599F10/PR/blanep1.pdf
