What do Fortnite, Netflix, Spotify, The Economist and TikTok have in common?
The peaking attention economy has fully transformed competitive dynamics in the media and entertainment landscape.
Consumers have maxed out on their available down-time, which originally provided organic growth for the likes of mobile gaming in the early 2000s.
With no additional time to spare competition is now about dethroning already allocated engagement, rather than capturing available time.
Moreover, competition is no longer isolated within individual entertainment verticals. In this economy, Fortnite is contending with Netflix, Spotify, The Economist, Snapchat, and TikTok as much as with PUBG and Apex Legends.
In such an environment, entertainment providers are forced to re-evaluate how they are responding to changing consumer behaviours and find new paths to both compete and cooperate to maintain engagement.
Of vital importance for these companies, now more than ever, is the need for a holistic understanding of consumer behaviour and attitudes across all of the aforementioned media formats.
This is crucial for both offensive tactics (identifying innovative and more effective marketing opportunities, cutting out inefficiencies in sales and marketing campaigns etc.) and defensive tactics (e.g. avoiding release clashes, identifying new pathways to gain competitive advantages etc.).
MIDiA has been tracking developments of the attention economy in depth across music, video, games, sports, podcasts, digital news and brands since 2018. Our analysts will be sharing insights about this at the Peak Attention seminar on November 20th.
What to expect:
At this event MIDiA will outline the fundamental traits of the peaking attention economy, what it means for brands and consumers, and how companies can move forward to stay successful.
You will also receive a free copy of the Peak Attention report when you sign up. Space is limited and tickets are selling fast.