Hot Topic - Video on Demand
Brand leaders always get lots of attention. Superior products and services are worthy of accolades, not to forget happy and loyal customers. These are traditional market forces, price serving to mediate enthusiasm. Bugatti’s US$18.9 million one-of-a-kind Voiture Noire (Black Car), sold in one day, does not a brand make. Competitors need a plan.
Years ago, so far from today most people can’t remember, the legends of digital creation told everybody who would listen that nothing would be the same. They were, largely, ignored. Bit by bit - byte by byte - their message turned true. People liked many of these digital marvels and discarded much of what had come before without overly intellectualizing their decisions. This made some folks absolutely crazy.
Psychology plays an outsized role in business, more so in media. With fad and fashion studied as seriously as physics, the media sector looks for flashes of light and, of course, darkness. Those visions are decorated from the sidelines; the advertising people, the investment bankers, the shareholders, the politicians. Many thrive, truly, on these flashing lights, a certain relief in the chaos. Psychologists have a name for this.
Times have changed in TV land. Cords are being cut. Ads are out; subscriptions in. Productions are getting bigger and, certainly, more expensive. More significant for some broadcasters, viewers see it all differently.
Marketing experts have long observed the pair phenomenon. Spirited competition between two big brands serves both by expanding the category while forcing lesser rivals to the dragging end of the long-tail. Soft drinks: Pepsi and Coca Cola. Rental cars: Hertz and Avis. There are others.
Revising media rules from the depths of the last century for today’s digital consumer preferences challenges the best and brightest legal minds. There is great and valuable logic in adapting what has gone before, not to forget warm fuzzy comfort. But rule makers are inevitably frustrated when the world changes before the ink dries on their latest remedy. A linear process disintegrates in complexity.
The digital age has changed everything; trite, now, but still true. Broadcasting and publishing are so last century, when engaging each individual customer was considered déclassé. The media sphere is now strictly retail; apps as aisles, clicks and swipes the points-of-purchase. Stars are now showcases, changing regularly, and headlines point to the check-out line. It’s a different business every day.
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