“We compete with Fortnite more than HBO”, This matter-of-fact assessment from Netflix, the worlds largest streaming company, provoked a stir among media commentators and analysts earlier this year.
Yet the logic is there: Netflix has 149 milllion subscribers, compared to 250 million users of Fortnite Battle Royale gaming platform. Time spent on traditional media is in decline, and consumer attention is getting harder to win and keep.
Content needs to be more engaging - the success of Netflix’s own Black Mirror: Bandersnatch film demonstrated the strong appetite for more interactive forms of content.
Every company in the future will need to think and act like an entertainer.
Consider what Starbucks has done in Shanghai. It partnered with Alibaba to create an amusement park for coffee, complete with an in-store augemented reality features where consumers can learn about the roasting process and unlock virtual menus by pointing their phones at icons in the store.
All brands must embrace storytelling to survive. If a picture is worth a thousand words, then how much more powerful must be the combination of sight, sound, touch and agency that virtualization brings.
If one thing Hollywood taught us, as well as gaming platforms, is that storytelling is the key to building an emotional bond with the viewer or customer. All brands must find ways to either aquire the talent for that story, or embrace that in how they pursue markets for attention. “We compete with Fortnite more than HBO”, This matter-of-fact assessment from Netflix, the worlds largest streaming company, provoked a stir among media commentators and analysts earlier this year.
Tik Tok videos are short-ended, edited videos that mainly compose of teenagers and kids dancing. Youtube on the other hand allows for up to 10 + hour long videos that you can upload entirely unedited. Youtube has much more widespread videos from anything like dancing, gaming sports , documentaries, instructional, etc
Youtube also offers a revenue share, which is a strong motivational force to keep creators using Youtube as a hub for all of their social read today.
For Advertisers, they site that Youtube would still offer the key benefit in ‘engagement’ which is a key marker for interest in a particular bit of content. The higher the engagment (or watch time), or interaction with that content the better the percieved value of marketing to that particular viewer.
Tik Tok is majority owned by Musically, which is majority owned by ByteDance in Bejing, which puts TikTok in an complicated growth position, given that content is unable to move freely on the platform, much like what allowed for Youtube’s growth and other more open networks.
Our primary editor went out to quickly moonwalk in the Detroit airport, while reading some texts on his phone. Passerbys were not exactly certain what might be going on, since the moonwalking SVELT editor seemed oblivious to the mini audience watching the smooth flowing moonwalking procedure. Damn straight!