Morning Consult：2023年上半年媒體和娛樂報(bào)告

ANALYSTREPORT

TheStateof

Media&Entertainment

Howmediacompaniescanfindthenextwaveofgrowthin

2023amidmacroeconomicuncertainty

JANUARY2023

?2022MorningConsult.Allrightsreserved.

INTHISREPORT

3ExecutiveSummary

4KeyTakeaways

5VideoStreaming

13SocialMedia

19VideoGames,EsportsandMetaverse

26DigitalAudio

32AbouttheReport&Methodology

2

ExecutiveSummary

Withtheeconomynotlikelytoimprovemuchinthenearterm,mediaexecutivesshouldbraceforsomeconsumerstobeevenchoosierwiththeirentertainmentexpendituresin2023.

MorningConsult’ssemiannualStateofMedia&Entertainmentreporttracksthemostimportantmediatrendsanddistillshowexecutivesintheindustrycancapitalizeonthem.

Mostconsumersarenow

comfortable

withoutdooractivitiesagain,butrisinginterestratesandincreasedproductioncostsin2022contributedtoayearwheregrowthfellshortofexpectations.Thebiggestmediacompanieslostover$500billioninmarketvaluelastyear,andas2023begins,executivesneedthelatestinsightsonhowconsumersareapproachingmediatoensurethatthisyearwon’tbearepeatofthepreviousone.

Basedonsurveyinterviewswithmorethan2,200adultsacrosstheUnitedStates,thisreportprovidesinsightintotheconsumertrendsthatwillshapethefutureofthemediaandentertainmentsector.

ShareofU.S.adultswhosaidtheyoftentriedtosaveoverthepastmonthineachcategoryduetorisinginflation:

50%

45%

40%

35%

30%

25%

20%

Groceries

Gas

Restaurants

Entertainment

experiences

Electronics

Subscriptionservices

Jul’22

Nov’22

Oct’22

Sep’22

Aug’22

Dec’22

Source:MorningConsultResearchIntelligence

3

KeyTakeaways

1

Boomtimesforvideostreamingareover.

Lower-pricedadtierswillonlyhelpsomuch,makingitimperativeforstreamerstobeabledifferentiatethemselvesthroughareaslikelivecontentandfreead-supportedstreamingTVoptions.

READMORE

3

VideogameIPneedsmoreattentionfrommediacompanies.

Theconsumerswhospendthemosttimegamingalsotendtobemuchmoreinterestedinmoviegoingandvideostreamingthantheaverageadult,somorecontentgearedtowardgamersshouldbedeveloped.

READMORE

2

Winningtheshort-formvideorace

remainsparamountforsocialmediaplayers.

StartupslikeBeRealandPostNewshavegainedpopularity,butit’s

unclearanynewplayerwillestablishitselfasacreatoreconomy

pillarlikeTikTokhas.NoneoftheTikTokcopycatproductshave

managedtousurpBytedance’sserviceinthemindsofGenZers.

READMORE

4

Newerdigitalaudioinitiativesarefarfrom

monetizingtheaverageconsumer.

Whilesomeconsumersdoregularlyusesocialaudioserviceslike

Clubhouseandpayforpodcastsubscriptions,they’retheexception

ratherthantherule.

READMORE

4

5

SECTION#1

VideoStreaming

Asdomesticvideostreamingservicegrowthslows,

agreaterfocusmustbeplacedonthecost-

effectivewaystodiversifygrowthstrategies

Toughtimesfordomesticstreaminggrowthhaveshiftedthefocustoprofitability

ShareofU.S.adultsconsideringpurchasingasubscriptiontoeach:

60%

50%

40%

30%

20%

Netflix

PrimeVideo

Hulu

Disney+

Peacock

Paramount+

HBOMax

Discovery+

AppleTV+

10%

Jan

’22

Feb

’22

Mar

’22

Apr

’22

May

’22

Jun

’22

Jul

’22

Aug

’22

Sep

’22

Oct

’22

Nov

’22

Dec’22

Source:MorningConsultBrandIntelligence

Theyearsofunbridledgrowthforthevideostreaminglandscapearelonggone.Netflix’sH1‘22subscriberlossesweremostemblematicoftheindustry’sslowdown,butU.S.growthhasn’tbeeneasyforotherseither.ServiceslikePeacockgrewtheirdomesticsubscribercount,butpurchaseconsiderationformajorU.S.streamersfailedtomovebymorethan5percentagepointsbetweenJanuaryandtheendofDecemberof2022—meaningthatthecompetitivestandingdidn’tchange.

Theyearoflacklustergrowthwokeinvestorsuptotheoverspendingthatcomeswithchasingsubscribers.Asaresult,themeasureofstreamingsuccesswidenedtobemuchmoreinclusiveofprofitabilityprogress.Forexample,Disneyexperienceditsworstone-daystockdropsince2001afterreportinganearly$1.5billionlossforitsDTCunitinNovember,despiteaddingover12millionDisney+subscriptionsinfiscalQ4.Thisiswhymediacompanies

cannolonger

affordtogoall-inongrowingsubscribercounts,andwhyWarnerBros.Discoveryturnedawayfromexpensivestraight-to-streamingfilmslike“Batgirl.”

6

51%

73%

35%

52%

49%

47%

appealtoolderaudiences.

31%

48%

Disney+sawoneofthe

biggestdifferencesinusage

betweenGenZadultsandUSadultsoverall,explaining

theservice’srecenteffortsto

31%

30%

47%

45%

39%

38%

25%

33%

34%

37%

25%

35%34%

34%

27%

26%

26%

33%

20%

33%

21%

27%

21%

27%

23%24%

StreamersarerighttofocusonGenZ,buttheycan’tlosesightofotheragecohorts

StreamershavelonginvestedinbuildingoutGenZaudiences;afterall,resonatingwithGenZerswillhelpensurethatstreamersremainrelevantfortheforeseeablefuture.

They’redoingsothrough

big-budgetseries

,whicharebecomingmorecrucialforappealingtoyoungerconsumers.SoitmakessensethatNetflix—theservicechurningoutpriceyTVhitsmostconsistently—sawthegreatestnumberofGenZersreportingusageofitsservicesinDecember.

However,companiescan’taffordtoignoreolderconsumers,whomakeupdemosthatarerelativelyuntappedbystreamingservices.While25%ofGenXersand40%ofbabyboomerssaidinDecemberthattheydon’tsubscribetoanystreamingservices,thosefiguresweremuchlowerforGenZadults(9%)andmillennials(12%).

ThisiswhyDisney,whoseeponymousstreamingservicecurrentlyskewsoverwhelminglyyoung,hasworkedondiversifyingitsreachtoadultswithoutkidsinwayslikehostingR-ratedcontentonDisney+.Videostreamersstandabettershotatattractingolderaudiencesbybulkingupontruecrimecontent:27%ofGenXerscitedtruecrimeasoneoftheirfavoriteTVgenres,higherthantheshareofGenZers(19%)andmillennials(24%)thatsaidthesameinanOctoberMorningConsultsurvey.

Sharewhosaidtheyusedeachserviceatleastonceinthepastmonth:

AlladultsGenZadults

Netflixad-freeHuluwithads

PrimeVideo

Disney+ad-free

Huluad-free

HBOMaxad-free

HBOMaxwithads

Netflixwithads

Peacock*

Paramount+ad-free

Paramount+withads

Disney+withads

PeacockPremium

AppleTV+

Discovery+ad-free

Starz

Showtime

22%23%

Discovery+withads

Source:MorningConsultResearchIntelligence.*Freetierwithads.

7

FASTserviceshaven’tcompletelyinfiltratedtheGenZcrowd—yet

SharewhosaidtheyusedeachFASTserviceatleastonceinthepastmonth:

Peacockfree

TheRokuChannel

Tubi

PlutoTV

Freevee

Redbox

SlingFree

Plex

Xumo

U.S.adultsGenZadultsMillennialsGenXersBabyboomers

0%10%20%30%40%50%

Source:MorningConsultResearchIntelligence

Asvideostreamerslookfornewwaystogrowrevenuewithoutbreakingthebank,freead-supportedstreamingTVservices

havetakenonnewprominence

.ButFASTservicesstillneedtomakemoreprogresswithGenZers:WhilenearlyallmajorSVODswereusedoncebyatleast30%ofGenZadultsinDecember,thatwasonlythecaseforahandfulofFASTservicesinthatmonth.

FASTservicesgenerallyrelymoreheavilyonolderlicensedcontent,ratherthanneworiginalcontent,whichislikelywhymanydon’tseeGenZersastheirbiggestcohort.ThisskewisdifferenttothatofSVODslikead-freeNetflixandDisney+,whichGenZadultsweremorelikelythananyotheragecohorttoreportusinginDecemberatleastonce,forexample.

ThiscouldchangeslightlyasmediagiantsinvestmoreinFAST.WarnerBros.Discoverymaylaunchitsownservicein2023,thoughitsunclearthattheFASTmarketwilleverinvestinoriginalprogrammingtothedegreethatSVODdoes.

8

VIDEO

STREAMING

SUBSCRIPTIONSINCOMEGENDERGENERATION

60%

58%

65%

72%

52%

75%

69%

58%

57%

67%

67%

56%

15%

21%

64%

16%

26%

17%

23%

15%

20%

17%

25%

16%

28%

15%

18%

12%

21%

19%

25%

14%

18%

9%

16%

12%

16%

22%

27%

Evenwithdemandforlivesports,traditionalmediacompanieswillbecomechoosierabouttherightspackagestheylockdown

Shareswhosaid

U.S.adults

GenZadults

Millennials

GenXers

Babyboomers

Male

Female

Lessthan$50K $50K-$99.9K$100Kormore

1-23-45+

whetheralackoflivesportswasa“minor”or“major”issue

withthevideostreamingservicestheyuse

MajorissueMinorissueNotanissue

Source:MorningConsultResearchIntelligence

Itbecameclearin2022thatlivesportsis

thenexthurdle

toovercomeinthestreamingwars.ButmajorrightspackagesforleaguesliketheNFLandNBAarestilllockedupforyears,whichexplainswhy36%ofadultstreamingusersinlateOctobersaidthatalackoflivesportswasaproblemtheyhadwiththeservicestheyuse.

Mediacompaniesarelookingtosatisfythisdemand,thoughthey’lldosoinawaythatjibeswiththeincreasedfocusonachievingprofitability.ThismeansincreasinglyeyeingcheaperrightsoutsidetheNFL,NBAandMLBforeventslikemotorsports,tennisandgolf,whicharelessdominantintheUnitedStatesbutstillsawatleast2in5ofthosefromhouseholdswith$100kormoreinannualincomedescribingthemselvesas“avid”or“casual”fansin

December.

Asheftysportsrightspackageincreasesareonthehorizon,moremarqueesportsrightswilllikelystartgoingtowardcash-richtechgiants.Afterall,GooglejustsecuredtherightstodistributeSundayafternoonNFLgamesforsevenyears.

9

Stronglypreferstreamingservice

Somewhatpreferstreamingservice

Don’tknow

Somewhatprefermovietheater

Stronglyprefer

movietheater

9%

Whythe‘streamingvs.theatricaldebate’willsteadilylosesteam

Streaming’simpactonmoviegoinghasalwaysbeenahot-buttontopicinmediacircles,butthe“streamingvs.theatrical”debatefeelsincreasinglydatedasthemonthsgoby.We’ve

previouslyexplained

howstreamingserviceusageandmoviegoingisn’tazero-sumscenario,whilemoreexecshaveacknowledgedhowamoviethatplaysintheaterswilldobetteronstreamingthanonethatdidn’t.

Thesurprisinglycoexistenttheater-streamingrelationshiphelpsexplainwhyGenZadultsregularlyreportapreferenceforwatchingrecentlyreleasedmoviesonstreamersratherthanintheaters.Butthiscouldjustbeacaseofyoungconsumerstakingconveniencewhentheycangetit.Afterall,duringH22022ineverymonthexceptSeptember,thatcohortwasmorelikelythanothergenerationstoreportgoingtothemoviesatleastonceamonth.TheatersmustmaintaintheirappealtoGenZnotonlytokeepabigrevenuestreambutalsotoboostthechancesthattheseyoungconsumerswillpassontheirmoviegoinginteresttothenextgeneration—GenerationAlpha.

Meanwhile,ontheawardsfront,everytraditionalstudiobesidesSonyhasamajorstreamerandisthereforeinterestedinawardwinsforboththeatricalandoriginalstreamingfilms.Agrowingawarenessofthis,pairedwithmoreexamplesofday-and-datefilmswithstrongbox-officeperformances,willsteadilychipawayatthenotionthatstreamersandtheatersaremorecombatantsthanallies.

ShareofGenZadultswhosaidtheyprefertowatchajust-releasedmovieviatheaterorstreamingservice,2022

37%

23%

27%

30%

34%

31%

32%

31%

18%

22%

27%

23%23%

28%26%

7%

12%11%18%15%

17%

16%

16%

15%

19%23%17%

19%

13%

9%

13%

15%

11%

15%

June

July

August

September

October

November

December

Source:MorningConsultResearchIntelligence

10

VIDEO

STREAMING

SUBSCRIPTIONSGENERATION

Younger,moreavidstreaming-serviceusersstillpreferbingereleases

Theweeklyreleasemodelhasincreasinglygainedrelevanceoverthepastcoupleofyearsasatooltoboostaseries’overallculturalimpact.Thecadencealsohelpstoalleviatesomeofthepressureonstreamerstoconstantlydebutnewcontent,giventhatconsumerscan’tcompleteindividualshowsasquickly.

Still,bingereleases

won’tbegoingextinct

anytimesoon.Acontingentofconsumers,particularlythosethatareyoungerandmoreinterestedinvideostreaming,prefertheopportunitytobingealltheepisodesofaseriesatonce.WhilemanyGenZersandmillennialsgrewupwithalotoftheirfavoriteseries’episodesbeingreleasedallatonce,thesamecan’tbesaidfortheiroldercounterparts.Thishelpsexplainwhyyoungergenerationsparticularlypreferbeingabletobingenewseries.

Meanwhile,thosewithseveralstreamingsubscriptionsaremorelikelythanthosewithfewersubscriptionstohavealargewatchlist,soitmakessensetheformergroupwouldwanttobeabletofinishseriesasquicklyaspossible.

Withthisinmind,mediacompanieswilllikelyalwaysreleaseatleastsomeseries(likelythelower-budgetfare)allatonceastheyincreasinglyevaluatehowtoextendtheshelf-lifeofthecontenttheyaredistributing.

ShareswhosaidwhethertheypreferweeklyorbingereleasesforTVseries

Ipreferseriesare

IpreferwhentheepisodesofaTVseriesarereleasedallatonce

56%

whentheepisodesofaTV

releasedonaweeklybasis

Alladults

GenZadults

44%

67%

33%

35%

65%

Millennials

43%

57%

GenXers

57%

43%

Babyboomers

32%

068%

1-2

56%

44%

38%

3-4

62%

64%

5+

36%

Source:MorningConsultResearchIntelligence

11

WHATITMEANS

In2023,mediacompaniesmusttakegreateradvantageoftheplatformsavailabletothem

WHATTHISMEANSFORMEDIA&ENTERTAINMENTBRANDS

Theyearaheadwillseemanyoflastyear’sstreamingtrends

continue,butcompanieswillneedtorecalibratetheirportfoliosto

leanmoreheavilyintoincreasinglysought-afterassetssuchaslive

sportsandhigh-profileweeklyreleaseshowstodifferentiate.

ThebattletolicenseclassicTVhitswillheatup

Aspaidad-supportedservicesandFASTplatformsbecomebiggerfocuses,classicTVhits(think“Seinfeld”-calibershows)thatcangeneratehighlevelsofviewinghourswillincreasinglybesoughtout.

Withprofitabilityofstreamingoperationsbecomingasgreatofa

focusamonginvestorsasit’severbeen,mediacompaniesmust

takegreateradvantageofthevariousplatformsavailabletothem

tomaximizethereachandrevenuegeneratedfromanygiven

pieceofintellectualpropertythathitsstreaming.

Oldstreaminghabitsdiehard

Whilemoreweeklyreleasesarelikelyonthehorizonforcertainstreamingservices,aportionofconsumerswillalwaysvaluetheabilitytowatchnewseriesallatonce,socompaniesshouldnevercompletelyturntheirbackonthebingemodel.

Thismeanscontinuingtoprioritizetheatricalreleasesand

experimentingmorewithhavingcontentonpaidstreaming

servicesthatwillalsoaironlinearTVnetworksandFASTservices

—ratherthanforcingallthecrownjewelstoliveexclusivelyon

paidsubscriptionstreamingservices.

12

13

SECTION#2

SocialMedia

WhileeveryoneischasingTikTok’sshort-form

videolead,platformsarerealizingthatahigher

numberofusecasesisn’talwaysbetter

’20

YouTube

LinkedIn

Instagram

Reddit

Twitch

Snapchat

Facebook

Q1TikTok

Twitter

ely

theplatfthanitisostof

Facebook,Twittersawbiggestdropsintrustoverpasttwoyears

Changeinnettrustofmajorsocialmediaplatformsbetween12monthsof2020and2022

Q1-Q4

’22

Q1-Q4

-2.

4

Nocha

nge

-

5

-0.3

-1.9

ofnet

YouT

ubestantrust,lik

dsfaraheinpart

adofthebecause

packinit’smuc

terms

h

-3.4

harde

rtomess

age(and

potentia

llyharas

s)

-Q4’20

Q1-Q4’

-

22

6.4

othertheriv

usersonalsites.

orm

onm

+2

.7

-8.3

-10-505101520253035404550

Source:MorningConsultBrandIntelligence

Socialplatformsmustconstantlyworktostrengthenthetrustconsumershaveinthem:Alossintrustwas

thereason

48%ofconsumersinSeptembersaidtheystoppedusingasocialmediaplatforminthepastyear.

Effortstoboosttrustamongconsumershavehadmixedresults,withtrustdippingthemostforthetwosocialplatformsusedmostheavilyfornewsconsumption:FacebookandTwitter.Withsomuchnewsbeingconsumedontheseplatforms,itstandstoreasonthatFacebookandTwitterwouldparticularlystrugglewithissuesoffakenewsandlosetrustasaresult.

Otherfactors,includinghostingtoomuchobjectionablecontent(postsfeaturingviolence)andads,havelikelyledtoalossoftrustinseveralmajorplatforms.ASeptembersurveyfromMorningConsultfound33%ofU.S.adultsocialmediauserscitedlimitsonobjectionablecontentandadsas”major”reasonstheytrustcertainsocialplatforms.

14

YouTube

InstagramTikTok

SnapchatFacebook

Twitter

Pinterest

Reddit

Twitch

LinkedIn

Clubhouse

Facebookisofthejormajsocial

reportgiven

.

IntheracetoattractGenZ,onlyahandfulofsocialplayersaretrulywinning

Shareswhosaidtheyusedeachsocialplatforminatleastoncedaily:

U.S.adultsGenZadults

s

ing

t

platforms

oneseeingmoreU

rarema

.S.adultsthan

or

GenZers

usage.ThisthatMeta’s

isn’ttheendInstagramex

oftheworldcelswiththis

fortheapp,cohortbutit’

clearthat

Facebook’sin

itiativestobe

,

comemore

dominantoriginalvid

withtheyouneoandlivest

gergenerationreaming,have

,suchasfundn’tpannedou

0%10%20%30%40%50%60%70%

Source:MorningConsultResearchIntelligence

BuzzyGenZ-appealingsocialplatformslikeBeReal,PoparazziandFizzhavesproutedupoverthepastcoupleofyears,placinggreaterurgencyontheestablishedsocialplayerstostrengthentheirconnectionthatyoungdemo.

Still,onlyahandfulofplayershavemeaningfully

pulledthisoffandseeover50%ofGenZadults

usingtheirappsdaily.

MorningConsultdatashowsTikTokasoneoftheappswiththegreatestdifferencebetweendailyusageamongGenZadultsandadultsoverall.AbigreasonTikTokhassucceededisitsproprietaryandeerilyaccuraterecommendationalgorithm.

Butit’sstillworthitforcompetitorstotrytoseize

TikTok’sterritoryastheBytedance-ownedappwill

likelyfaceincreasedgovernmentscrutinyonits

dataprivacypracticesin2023,potentiallymaking

moreuserswillingtouseInstagramorYouTubeas

theirgo-toshort-formvideoplatform.

15

50

40

30

20

YouTubeShorts

TikTokisholdingitsgroundamidthecopycatcompetition,butitisn’tcompletelyunfazed

DespiteheavyinvestmentfromGoogleandMetaintoYouTubeShortsandInstagramReels,neitherhasbeatenTikTokasthefavoredpurveyorofshort-formvideoamongGenZers.

Butthatdoesn’tmeanTikTok’sreignwilllastforever,asMetaandGooglebothannouncednewmonetizationcapabilitiesforReelsandShortsin2022.Thishaslikelyledtomorehigh-qualitycontentfrominfluencersandanincreaseintimespentonthesecompetitors.ThisexplainswhyTikTok’snetfavorabilityratingdippedtoroughly40%froma2022highofroughly50%inMay.Moreover,mobileinsightscompanyData.aiestimatedthatthenumberofTikTok’sU.S.monthlyusersdroppedby3millionbetweenJanuaryandOctober2022.

Toremaincompetitive,TikTokhasrecentlyexperimentedwithexpandingbeyondshort-formvideo.In2022,theappincreaseditsmaxvideolengthfromthreeto10minutes,andstartedtestingTikTokNow,itsBeReal-likefeature.

TikTokcouldfurtherdifferentiatebymarketingitselfasaneducationalplatform,ratherthanjustaplaceforhumorousvideos.TheappisalreadybeingusedadefactoGoogleformanyyoungconsumers,buttherearelikelymanyolderadultswhoareunawarethatTikTokcanbesometimesmoreeffectiveforinformationgatheringthanGoogleis.

NetfavorabilityofeachplatformamongGenZadults:

60

TikTok

InstagramReels

10

0

Jan

’22

Feb

’22

Mar

’22

Apr

’22

May

’22

Jun

’22

Jul

’22

Aug

’22

Sep

’22

Oct

’22

Nov

’22

Dec’22

Source:MorningConsultBrandIntelligence.Netfavorabilityreferstotheshareofrespondentswhosaidthattheyhadafavorableimpressionofeachbrandminusthesharewhosaidtheyhadanunfavorableimpressionofeach.

16

Despitethebroaderpushtodistributenews,severalarestillworkingtobecomewidelyusedresources

TikTokcouldlikelyfurtherfendoffcopycatsbyforgingmorepartnershipswithestablishednewspublishers,asitstilllaggedFacebook,InstagramandYouTubeintermsofusagefornewsinmostrecentmonths,MorningConsultdatashows.

Forexample,MorningConsulthasrecently

pointedout

thatmanyleadingpublishersshouldbetakingTikTokmoreseriouslythantheycurrentlydo—TheNewYorkTimesproperdoesn’thaveaverifiedTikTokaccount,andBloomberghasanaccountwithzerovideos.Doingsonotonlyplacespublishersinfrontofcertainyoungerconsumersthatwouldn’totherwisebeexposedtotheircontent,butitcouldalsogenerateanewrevenuestream.InMay2022,TikTokannounceditsfirstad-revenuesharingprogram,whichgiveseligiblecreatorsacutoftherevenuegeneratedfromtopperformingvideos.

TwitterandFacebookarebyfarthemostpopularplatformsamongU.S.journalists,pera2022PewResearchCenterstudy.ButotherplatformsstillhaveanopportunitytofurthercourtjournalistsafterrecentaccountbansbyElonMuskcausedmanyinthenewsprofessiontore-evaluatetheirrelationshipwithTwitter.

ShareofU.S.adultswhosaidtheyusedthefollowingplatformsfornewseachmonth:

60%

Facebook

50%

Twitter

YouTube

40%

Instagram

TikTok

30%

Snapchat

Reddit

20%

LinkedIn

10%

Jun'22Jul'22Aug'22Sep'22Oct'22Nov'22Dec'22

Source:MorningConsultResearchIntelligence

17

WHATITMEANS

SocialappsshouldbecarefulnottolosetheircoreDNAwhendiversifying

WHATTHISMEANSFORMEDIA&ENTERTAINMENTBRANDS

Stepupinvestmentinshort-formvideodistribution

Companiesshouldn’tmisstheopportunitytobetterresonatewithyoungerusersthroughproductslikeReelsandShorts.Whilesocialplatformsconstantlyreevaluatepriorities,it’scleartheshort-formvideopushisheretostay.

Majorsocialplatformswillretaintheircoreidentities

Whilethemajorsocialplatformswillalwayslooktomimicthefeaturesoftheup-and-comingappsofthemoment(BeRealwastheappin2022),theyriskuserbacklash—andapotentialuserexodus—fortooheavilymimickingcompetitors.

Whilebuildingoutusecasescanhelpplatformsregularlylockin

usersforlongerperiodsoftime,socialcompaniesshouldbe

cautiousofstrayingtoofarawayfromtheircorecompetencies.

ThinkabouthowInstagramfacedsignificantbacklashwhenitrolled

outatestthatmadeitsfeedmuchmorefocusedonverticalvideo

(i.e.,morelikeTikTok),butultimatelyhadtoabandonthatpush.

Socialplatforms’constantlychangingbetsmeanthatbrandsalso

needtoregularlyreassesshowtheycanusethemajorsocial

networksinnewways—perhapsTikTokforinformativecontent,or

YouTubeforshort-formvideodistribution,forexample.

Meanwhile,mediacompaniesshouldbewaryofnewfunding

initiativesdangledbycertainsocialplatforms.Keepinmindhow

Snapchatin2022stoppedfundingmediacompanies’productionof

originalsforitsDiscoversection,whileFacebookre-examinedits

commitmenttonewslicensingdealsthatpaidmillionsofdollarsto

publishers.

18

19

SECTION#3

VideoGames,Esports

andMetaverse

Entertainmentcompanieshaveanopportunityto

moreheavilytargetthegamersegment,butnotall

fieldswithingaminghavemainstreamappeal

VIDEO

MONTHLYSTREAMING

TRIPSTOSUBSCRIPTIONSGENERATION

MOVIES

ThosewhoaremoreinterestedinTVandfilmtendtobemoreavidgamers

There’sanaturalopportunityformediacompaniestostepupthenumberofcomm