"Mavericks of Media" Reveal Big Future Research Opportunities

The Biggest DriversEvan Shapiro founder of eshaptv warned that while we may have our eye on the usual big media players such as Disney and WarnerMedia there are quottrillion dollar death starsquot at the edge of the media universe such as Facebook and Apple who are poised to overturn the business model There will also be increased tension between the advertising and single unit sale business model to the recurring revenue subscription business model And a dramatic shift from a Boomer and Gen X dominated world to Gen Z Gen Y We will see this in not only quotthe way media is consumed the devices on which it is consumedquot but also the artists and content that quotreflect this complex digital first and the two most diverse generations in western culture39s historyquot he statedPost Pandemic PredictionsJack Myers media ecologist and founder of MediaVillage shared his industry predictions for 2021 quotThe Upfront will see record CPM increases growth over last year39s Upfront revenues in the doubledigits and overall 2021 ad revenue for the national TV business will be up an estimated 8 not enough to return it to 2019 levelsquot he shared Myers predicted that radical industry transformations occur every 30 years and we are now at the threshold of the next 30 year cycle quotMarketers may be facing shifts in consumer communications patterns for which there is no precedents and for which they are ill preparedquot he predicted 30 years ago We see it happening again today with the end of the great internet upheaval quotThe pandemic has accelerated the trends already in place and 2021 represents the first year of a new 30 year cycle that requires accelerated shifts in revenue strategies for the television industryquot he stated This requires a reorienting of priorities and ways of doing business Going forward growth will occur through investments in a diverse workforce and education to inform both teams and stakeholdersIn that context Myers recommended that corporations advance research professionals into strategic roles and redefine Chief Research Officers as Chief Education Officers Myers also shared proprietary data from two new industryfunded studies Survey of Advertiser and Agency Executives on Perceptions of 60 Media Sales Organizations and Media Brand Equity Survey of Consumers and Advertiser ampamp Agency Professionals on the Brand Value of 150 Media Content BrandsGuilty Pleasure ProgrammingMaybe because of the pandemic viewers are seeking out comforting and nostalgic programming The trend towards guilty pleasure viewing has as Jeremy Lejeune vice president content ampamp consumer insights NBCU noted quotA sense of indulgence in it It satisfies a need The benefit is escapism and the need for escapism is higher than everquot with the pandemic For Suzanne Persechino senior vice president head of insights group AE Networks quotWe can all relate to the great amount of anxiety and tension in our daytoday lives through a pandemic We have found that there has never been a more ripe time for content that has a clear and satisfying endingquot The big takeaway is that guilty pleasure content transcends boundaries it can be scripted or unscripted comedy or drama But it must be of highquality with compelling complex and wellcrafted storytellingThe Importance of DiversityTiffany SmithAnoa39I executive vice president entertainment diversity ampamp inclusion ViacomCBS and Kay Hill vice president brand research WarnerMedia shared their insights regarding diversity in media For Hill quot2020 really highlighted this subject and put it at the forefront because people were at home and were paying more attention to newsquot For SmithAnoa39I quotThe narrative hasn39t changed We want to have greater representation in front of and behind the cameraquot Essentially we need to rethink how we are doing business who we are and who we are not doing business withHill explained that when conducting diversity research quotYou ask What does this audience want What are they looking for What do they enjoy The answer always comes back they want to see some form of diversity and representation on the screen in front of themquot SmithAnoa39I noted quotEducation is paramount Equality doesn39t mean extra or more It means equal The same opportunity to fail and succeedquot and added that it had to be authentic and not mere tokenismThe Next Big OpportunityOther formats that are gaining popularity include news which is expected to maintain growth postpandemic For Eliza Jacobs director consumer insights ampamp analysis PBS her company is committed to building out their brand by focusing on digital to grow their audience and expand their base quotWe have a digital approach going forward on our own platforms as well as partnerships and building out a PBS News brand on a digital platformquot she revealedWith a distribution source of 110 newsrooms nationally Sean Fassett vice president research ampamp insights WGN America ampamp Antenna TV sees his company as able to leverage strengths in both linear and digital WGN America is being rebranded to NewsNation quotNews is a guilty pleasurequot he explained quotbut it is also a necessity There is still a need for news to know what is going on and how to keep their families safe We focus on niche stories that give voice to the voicelessquotConclusionThe pandemic has changed the paradigm for our business in a myriad of ways In some cases it has accelerated an already predicted transformation and expanded the role of certain business models In other ways it strengthened certain programming types and clearly defined the need for diversity What the Mavericks of Media all have in common is their thirst for knowledge that will help the media industry not only survive but thriveClick the social buttons to share this story with colleagues and friendsThe opinions expressed here are the author39s views and do not necessarily represent the views of MediaVillagecomMyersBizNetamp160

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"Mavericks of Media" Reveal Big Future Research Opportunities

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Charlene Weisler

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