Industry Insight: Technology is Rapidly Transforming the Competitive Landscape in Hollywood
The entertainment industry is experiencing rapid change. Tech companies, including Amazon, Google, Netflix, and Facebook, have entered the entertainment industry and are presenting a strong challenge to “traditional” companies especially in capturing audiences in OTT, the strongest growing segment.
The Tech Companies ability to digitally distribute content directly to billions of consumers combined with advanced analytics prior to green-lighting projects puts them at an advantage in regards to what content to create and how best to market it
The “traditional” entertainment industry’s biggest competitive advantage is the ability to produce high quality content and its strong IP ownership including libraries.
Tech companies are spending heavily to close the “Content Gap” and are catching up at a fast pace.
The entertainment industry has been slow in adopting technology for green lighting decisions, and is under increasing pressure to find ways to improve their business models.
“For a really long time, we have been disintermediated from our customer base, because we sell to exhibitors. We had been flying blind.” Stacey Snider, CEO, 20th Century Fox – Variety, 9/20/17.
There is now an enormous opportunity for the entertainment industry to use advanced data analytics from the green-lighting stage to better leverage its talent, experience, and core assets (high-quality IP & libraries) for producing great content that has an audience.
We at Cinelytic are here to provide the entertainment industry with the tools & insights needed to thrive in this volatile environment. Please let us know if you have any thoughts and questions.