1 / 10

Vying for Attention

Vying for Attention . The Future of Competing in Media and Entertainment Torrey Ball. The Core Ideas. M edia companies must evolve their ideas about media and understand profitability in new ways; the primary difference is a focus on attention instead of reach.

sadie
Download Presentation

Vying for Attention

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Vying for Attention The Future of Competing in Media and Entertainment Torrey Ball

  2. The Core Ideas • Media companies must evolve their ideas about media and understand profitability in new ways; the primary difference is a focus on attention instead of reach. • Really study the “attention of consumers” and know what it’s worth . • Don’t just think in terms of audience; think in terms of specific attentions. • Understand the effects of a multi-platform world, and the strategies for connecting with audiences.

  3. Attention and Profitability • Attention drives media and its consumption. • Human attention is moving from the status of a commodity to that of a scarce economic resource. • Power shifts from attention buyers (those who market media and entertainment) to attention generators (the consumers who distribute their attention to whatever pleases them). • Customer perception will rule, and consumer attention will determine what businesses thrive or fail.

  4. Attention and Profitability

  5. Attention and its worth • What is attention worth? How do we account for attention in wide spread areas? • Media and the platform to access that media must not be over-priced • Consumers go with what they are used to • When you have nothing to watch on tv, what channel do you attend to?

  6. Attention not Audience • Demographics only tell you Age, Sex, Race. • New media must be able connect with consumers on an individual level, and then CRM systems must help develop understanding. • How do companies get this information and is it ethical? • Different people use different platforms, media valuations must account for this fact.

  7. Multiple platforms • Attention is . . . attenuated. • How many forms of media do you interact with every day? What do you use these for? • How do we as aspiring media managers, value attention on different platforms? • Attention spectrum • Companies must be able to find ways to attract and understand attention on multiple platforms

  8. Surviving the Attention Economy • Connect with Your Customers and Cultivate Relationships • Find New Revenue Streams - NOW! • Set Your Customers and Your Brands Free • Don’t Pay for Impressions, Pay for Attention! • Make Your Pricing Dynamic

  9. Surviving the Attention Economy • Go Global from the Start: Compress Your Windows • Create Standards that Work • Share the Investment Risk • Be a Close Follower: Learn from Others’ Mistakes • Focus Your Attention as Companies Converge and Diverge

  10. Strengths and Weaknesses • Weaknesses • Dynamic pricing • Go global from the start • Strengths • Predictions and how looking back helps shape the future • Identify attention as a driving force in media

More Related