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“For the first time, content is not the problem.” That is an observation from a longtime friend who used to build and manage cable systems. Her point is that almost anything anyone would like to watch or hear is available — somewhere. The challenge is finding it, or at least finding it without investing a disproportionate amount of time and energy on the search. As she lamented, “We used to have TV Guide.”
This conversation has been on my mind since we spoke. The answer becomes even more complicated when one considers two other factors. The first is that electronic entertainment choices have expanded beyond linear options to include on-demand streaming — both audio and video, social media and video games.
The second consideration is that, for most media businesses, advertisers are an important part of the revenue mix. Breakeven means capturing the attention of both consumers and those who want them to be exposed to a particular message.
Deloitte recently published its 15th Digital Media Trends – Fall Pulse survey. The authors found that most consumers are spending more time with online entertainment at home. They attribute this to concerns about delta and other COVID-19 variants. No matter the reason, this is a shift in consumer behavior that is likely to continue. In fact, Digital News Daily’s Karlene Lukovitz just reported that third quarter time spent viewing streaming is up 21% worldwide. North America recorded only a 2% increase, but it’s an increase.
Successful media and entertainment companies will