People still want the TV and movie experience offered by traditional studios, but social platforms are becoming competitive for their entertainment time—and even more competitive for the business models that studios have relied on. Social video platforms offer a seemingly endless variety of free content, algorithmically optimized for engagement and advertising. They wield advanced ad tech and AI to match advertisers with global audiences, now drawing over half of US ad spending. As the largest among them move into the living room, will they be held to higher standards of quality?
At the same time, the streaming on-demand video (SVOD) revolution has fragmented pay TV audiences, imposed higher costs on studios now operating direct-to-consumer services, and delivered thinner margins for their efforts. It can be a tougher business, yet the premium video experience offered by streamers often sets the bar for quality storytelling, acting, and world-building. How can studios control costs, attract advertisers, and compete for attention? Are there stronger points of collaboration that can benefit both streamers looking to reach global audiences and social platforms that lack high-quality franchises?
This year’s Digital Media Trends lends data to the argument that video entertainment has been disrupted by social platforms, creators, user-generated content (UGC), and advanced modeling for content recommendations and advertising. Such platforms may be establishing the new center of gravity for media and entertainment, drawing more of the time people spend on entertainment and the money that brands spend to reach them.
Our survey of US consumers reveals that media and entertainment companies—including advertisers—are competing for an average of six hours of daily media and entertainment time per person (figure 1). And this number doesn’t seem to be growing.2 Not only is it unlikely that any one form of media will command all six hours, but each user likely has a different mix of SVOD, UGC, social, gaming, music, podcasts, and potentially other forms of digital media that make up these entertainment hours.
Well, I know I remember the Hamster dance website fondly, does that count as a dance hype craze?
I also remember many Youtube videos from many years ago with some amount of nostalgia, e.g. Chocolate Rain or Mocha in “His First Broccoli” or the Yogscast series Shadow of Israphel.
I know some old shows and movies hold up well but others are pretty bad too. And the newer ones have an even worse ratio there.
As far as cringe goes, I think some of the series you mentioned, like Friends, has a good percentage of that too.
Yeah whatever brings positive nostalgia to people will be looked at fondly. I remember early internet fads and viral websites in a positive light that are just as dumb and transient as whatever viral content is being pushed out today. People view things in a different light and some kids in 15 years time will get nostalgic about Skibidi Toilet and talk about how “Dance Hype Craze” fell off after video 983.