"The race is on for content and greater share of attention from an audience looking to engage and interact with content and brands in more meaningful ways. That's why in 2017, we saw spending on streaming services reach $9.5 billion, a 30 percent year-on-year escalation, providing a clear indication of just how much the race is heating up."
-- Sandra Carvalho, CMO, Technicolor
HOLLYWOOD, Calif. - Oct. 30, 2018 - PRLog -- Organizations that master how to harness new technologies and platforms to engage with audiences in an authentic manner across an array of technologies and media platforms will be the only ones poised for success in the constantly changing entertainment and advertising arena, says Sandra Carvalho, Chief Marketing Officer at Technicolor, in a podcast interview for journalists.
"The changes we have seen in the industry in recent years have been massive. They are being driven by a demand for content the likes of which we have never seen before, and it is shaking the industry to its core. It is even changing the definition of what it means to be a studio," says Carvalho.
Players like Netflix, Hulu, Apple, and Amazon Studios are setting a new bar in the race to capture the hearts and minds of audiences all over the world, and -- as a result -- traditional studios are responding and evolving with their own content distribution platforms.
"The race is on for content and greater share of attention from an audience looking to engage and interact with content and brands in more meaningful ways. That's why in 2017, we saw spending on streaming services reach $9.5 billion, a 30 percent year-on-year escalation, providing a clear indication of just how much the race is heating up," she says.
Carvalho contends that the winners in this race will be those players in the entertainment and advertising industries that best understand the individual content consumption preferences of their various audiences, and then harness these insights to engage with consumers across multiple platforms by leveraging technology to make these interactions really meaningful.
Standing in the way of success, she explains, are organizational structures that continue to separate artistic and technological disciplines, while pursuing a one-size-fits-all strategy to their audience engagement initiatives.
"What is needed is an integrated approach to delivering the specific content audiences want, when they want it on the devices and platforms that they each desire," she says.
Though changes in the market are being driven by the unprecedented demands for content, they're also being defined by how different demographics consume content.
"No longer is the audience passive, like the baby boomer generation whose viewing habits were dictated by the networks. Generation Xers had more choices thanks to cable TV, premium channels, and other offerings, but this so-called MTV generation still did not have real control of their content experience," explains Carvalho.
Which brings us to today.
"Today's predominant audience, the Millennials, want real control and influence over their content," Carvalho says, "not only the type of content they want to see but where, when, and how they want it. With their heavy use of devices across multiple platforms, and their equally heavy engagement with the content they consume, it's no longer enough to say Content Is King. Today, Content Is Life."
At Technicolor -- which includes The Mill, MPC, Mikros Image and Mr. X -- over 5,000 artists and technologist work across the theatrical, TV, streaming content, advertising, and animation & gaming environments to deliver on the vision of storytellers in a meaningful and impactful manner.
"We have some of the most talented people in the industry. But we also recognize that no single organization can be a subject matter expert on everything. That is why deep relationships across the ecosystem are so important. No one has to do it alone when there is not a one-size-fits-all solution. So, I think the winners will be those that realize that strategic partnerships are going to really be important in thriving in this multi-platform world."
To listen to the entire podcast interview with Sandra Carvalho, visit:
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Technicolor's Sandra Carvalho Discusses How Engagement in Entertainment and Advertising is Changing in a Technology-driven, Multi-platform World
October 30, 2018 at 12:44 PM EDT