The Post-Peak Attention Economy What’s Next for Entertainment?
The 20,000 Foot View: With only hours in a day and an ever-growing number of entertainment services competing for consumer choice to spend them on, consumers have reached the limits of their available time – and therefore attention – to allocate to propositions across the digital market. As a result, businesses are being driven to vie for engagement, interest and spend which, if they do not win, can and will be allocated elsewhere. In a world where every spare moment has been opened to capitalisation by the advent and inundation of the mobile smartphone, there is no “free time” left for companies to cannibalise – only attention to be sought in the stead of a simultaneously-available other. As available attention grows ever smaller, it is crucial for businesses to consider a more holistic approach in understanding consumer behaviour across entertainment, instead of maintaining traditionally isolated views for music, video and games audiences.
- Mass adoption smartphones and the rise of stores in the early 2000’s an unprecedented rise in attention-seeking (apps)
- The rise alongside music, video and (more games streaming services has brought to the limits of their attention
- Companies used compete for consumers’ available time. no more time available, they to unseat competitors to gain
- In the attention economy everyone competes against another, instead of isolated competition separate entertainment verticals
- The total of the audience that can effectively targeted by conventional digital is shrinking, in both size value
- At TV streaming video viewing capture over third of consumers’ digital entertainment
- At hours, is the second most consumed format in the attention economy
- Consumers who more than per month on type of entertainment are also likely to spend on other of entertainment compared to the average of US consumers spend or more on pay-TV every month, compared to of high music and games spenders and of high news spenders
- It is to understand consumer behaviour across to identify the right methods types of paywalls they are in order to reach them
Companies and brands mentioned in this report: Amazon, Amazon Prime Video, Apex Legends, Apple, AT&T, Fortnite, Google, Netflix, PUBG, Snapchat, Spotify, Stranger Things, The Economist, TikTok, Warner Media