New Study Shows People Spend More Time With Creator Content Than TV/Movies
Hi everyone, There's a new report from Deloitte about Gen Z and Millennial trends regarding how they consume entertainment. The Hollywood Reporter wrote a whole article about it. Here are some of the highlights: - “The survey finds that 56 percent of Gen Zs and 43 percent of millennials surveyed find social media content ‘more relevant than traditional TV shows and movies.’” - “If the entertainment industry is in a battle for time and attention from consumers, many of the largest entertainment studios and streamers are finding themselves having to compete with giant tech platforms stacked with creators catering to every niche possible.” - “The survey found that younger consumers simply trust creators more, and feel a more personal connection to them.” - "'What the younger audience is telling us, the Gen Z’s and the millennials are telling us is that the ads and product reviews they get on social media, they’re more influential on their purchasing decisions. They simply believe them more.'” - “Creators are also pouring a flood of content onto social platforms every day, which in turn leverage AI-powered algorithms to steer content to consumers. Streaming platforms have recommendation engines too, of course, but with a much smaller selection of content, retaining these users could end up being a challenge.” - “The Deloitte survey also examined the question of value, and found that consumers across the board are increasingly dissatisfied with the value provided by paid streaming services. Almost half say that they pay too much for the SVOD services they use, and 41 percent say that the content isn’t worth the price.” The full article can be found on The Hollywood Reporter's website. I find this discovery interesting. As a film enthusiast, I could never turn my back on the medium I love. Yet, I understand where these consumers are coming from, especially as it relates to making a personal bond with internet content creators. Hollywood, these days, feels like a sterilize
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Lucas Friesen: Never heard of this but it sounds super interesting!