Media and Technology Analyst
Mark Mulligan : Midia Research : Opening Keynote
Audiences are changing, talent is changing, content is changing, and all at an unprecedented rate. What used to work doesn’t, what does work won’t. Technologies as diverse as VR, Musical.ly and Snapchat are transforming what success looks like and writing new rules for success. Just as you thought you were getting your head around how to make the economics of streaming work now you have to change the entire way you look at what music looks like and what it means to fans.
- Welcome to the Era of the Fragmented Audience: There are 3bn website users, 2.6bn social network users, 5bn messaging app users. That’s 3.2bn more users than there are people on the planet. Your audience is multiple places at the same time, and if you’re talking to them in all those places (like a good multichannel strategy should do) then you have just become a spammer. How do you engage with your audience smartly, in many places at the same time? And why?!
- Video is eating the world: In 2016 there will be 15 trillion short form video views. More than double 2015. Video is now the language of the digital era and if you’re not talking it you’re not being heard. To thrive in this brave new world you need to engage at both ends of the video spectrum, from the 15 second song through to the 15 minute special. Where do you sit on the 15 second / 15 minute video scale? Probably somewhere around 3 or 4 minutes, which means you’re not fully benefiting from engagement or revenue.
- Content and fandom are changing: New technologies have always shaped content but now so at an unprecedented rate because we now have a millennial feedback loop with millennials building products for Gen Z, rather than digital immigrants building for millennials. The result is a wave of products (VR, Snapchat, Musical.ly, Blockchain) that turn accepted wisdoms upside down.
- Where we are heading: A peek into the future, how to meet the dramatically different needs and aspirations of Gen Z, how their behaviours will reshape the relationship between fans and artists, and how this will change even how music sounds.