4 Ways how Social Media Enables the Media and Entertainment Industry to Prosper
By Media Entertainment Tech Outlook | Thursday, August 29, 2019
Social media can take media and entertainment companies to the next level of growth and success.
FREMONT, CA: As technology evolves and advances, social media platforms are also expanding and incorporating new features. Not just individuals but even companies have found themselves hooked to the intuitive social networks due to the advantages they bring. The entertainment industry has been using social media as an impactful tool to not only attract audiences but stay competitive as well. The platforms have made it easier and cheaper for media and entertainment companies to promote, market, and sell their content while targeting the viewers in the right way. Here are some ways in which media and entertainment enterprises are making the most of social media.
• Trailers and Clips
When more people can discover trailers, companies can easily increase their audience base. Social media is the perfect platform for launching trailers and clips of shows and movies as a lead up before the actual release. People spend a substantial amount of time on social media platforms browsing through content. According to comScore, users spend 69 percent of their media time on smartphones. By creating interesting trailers, media companies can target prospective audience. Since social media allows the sharing of content, the trailers also grab eyeballs as an increasing number of people post it among their contacts.
• Live Video Streaming
One of the latest features on social media platforms, live video streaming tools are convenient for media and entertainment companies. According to Buffer, 42.7% of businesses broadcasted a live video in 2018. When a media company is about to release a movie or a show, it is essential to create a buzz. In the pre-social media days, companies had to depend on trailers and teasers on televisions. Now, with the option of live streaming on social media apps, companies can start the audience engagement process much earlier. During the phase of shooting itself, media companies are releasing 'behind the scenes’ live videos where the cast gets to interact directly with followers and fans. Thus, promotional activity starts right from the beginning. Since the interactions are direct, the level of engagement that viewers get is very high and satisfactory.
• Well-targeted Advertisements
Many leading social media platforms offer advertisement features. The specialties of these ads are that they utilize the concept of customized targeting and can be in any format- photos, videos, slide shows, or carousels. Customized targeting refers to the use of technology to promote ads among relevant market segments, thus improving their efficiency. Media companies can release ad campaigns in the most favorable formats to get the attention of their target audiences at a rapid rate.
• Audience Engagement and Feedback Generation
The best part of social media is that it allows for participation from both ends. User-generated content can help media and entertainment firms a lot in making production a success. Hashtag campaigns are a great way to generate interest among the social media population. In addition to the several promotional benefits, social media also provides media companies with a chance to gain audience feedback. Many platforms allow the tracking of insights for each post, enabling the user to see what the audience likes and what it does not.
There have been several instances when media companies have successfully created viral social media campaigns. Many famous Hollywood movies have undertaken effective marketing with social media at the center of the promotional strategy. Even sports and news agencies have employed social media to drive growth and outreach. The possibilities of the versatile medium of social network are many, and its potential to propel the media industry forward is unmatched.