New MIDiA Research Study Unveils Strategies for Maximising Video IP Fandom
London, 6th February 2024 - Understanding fandom dynamics has become increasingly crucial in a landscape inundated with entertainment options. MIDiA's latest study, ‘Optimising the monetisation opportunities for TV and film fandom in the TV-streaming era’, analysing Q3 2023 brand tracker data, offers a comprehensive exploration of the intersections between TV, film, music, and games fandoms. This report not only identifies these overlaps but also presents invaluable insights for video IP holders seeking to capitalise on adjacent audiences.
At the heart of the analysis lies the recognition of video as the central IP resource in the digital era. With its inherent storytelling capabilities, video stands as the bedrock of modern entertainment, offering fertile ground for innovation and monetisation. Drawing inspiration from the gaming industry, video content creators can learn best practices for monetising adjacent formats, exemplified by successful collaborations, such as music artist skins in Fortnite.
Tim Mulligan, Senior Video Analyst at MIDiA Research, emphasised the importance of understanding fandom overlaps: "In an increasingly saturated entertainment landscape, understanding the fandom overlaps between previously distinct media formats is more important than ever before. For video, this is especially important as TV and film still retain their role as the central hub of mainstream entertainment."
The study illuminates the intricate web of fandom, revealing how fans of video IP transcend traditional boundaries. These consumers exhibit an affinity for content across TV, film, games, and music, presenting numerous opportunities for engagement and monetisation. While superstar IP commands attention, the study underscores the untapped potential in tailoring content to niche audiences, as evidenced by the success of SVOD platforms in driving engagement.
Regarding the transition to the TV-streaming era, Mulligan noted: "With the transition to the TV-streaming era now fully underway, film now has an opportunity to penetrate the digital entertainment ecosystem via smart TVs. However, in the TV-streaming era, this will mean using legacy IP to drive investment in niche targeted streaming content in collaboration with games and music partners. Alongside the growing role of film in TV streaming libraries, TV shows can also start to replicate film's IP success into adjacent media formats."
He further highlighted the challenges facing TV streaming shows: "However, there is still a notable division between film's visibility and success contrasted with an awareness challenge for TV streaming shows. Only one of the shows tracked in the MIDiA Research Q3 2023 brand tracker is in the 95% awareness category. TV streaming shows, while proving strong niche hits, have struggled to translate into mainstream IP as the fragmented streaming discovery landscape has yet to successfully replicate the scheduled and curated viewing experience of traditional TV."
Tim Mulligan is open for interviews. To get in touch, please contact Tsion Tadesse on Press@midiaresearch.com or tsion@midiaresearch.com.
MIDiA Research is a market intelligence and consulting firm with long-standing expertise in the business of entertainment and digital media. We work with various companies, from TV networks, streaming services, games publishers, developers, and record labels, to tech giants and financial organisations, providing a deep understanding of trends and innovations that are shaping the market and audience behaviours.
We help leaders formulate commercially actionable strategy in order to navigate the evolving digital-content and consumption landscape. We leverage multi-country consumer data, market forecasts, and other proprietary data tools to provide unrivalled insight into the rapidly changing, global, digital-content markets. Our coverage areas include music, video, marketing and media, games and audio.