For years, the entertainment industry has been at the forefront of technological innovation. From movies to music and games to online video, companies in these spaces have done more than anyone else to pioneer new distribution channels and revenue streams.
In order to succeed, modern entertainment companies must have a deep understanding of who’s watching what and how they’re interacting with content. And that means that the “X” factor today isn’t a new development platform or a top-tier talent pool — it’s data.
What Do entertainment sites need to be able to provide?
After all, it’s valuable data that forms the foundation of any modern entertainment company. Data is what helps entertainment companies understand who their audience is and how they’re finding value in the content being created. Is your audience coming to your site via search? Retention? Social media? How are viewers sharing your videos with others online?
With this information in hand, entertainment companies can build sites around what their audience wants and continue to provide value to the people who are already interested.
Importance of Data:
Now, data has become so important that leading players in this space have become “data-driven cultures,” where growth and retention metrics determine everything from how products get built to who gets hired and fired. And for companies still trying to figure out the right mix of talent and technology, understanding that data will be the key differentiator.
What’s next?
So, we know that data is critical for building a successful site in today’s market — but what can entertainment companies do now to ensure they’re prepared as the environment continues to evolve? Some key takeaways:
- Make data a core competency for your company by hiring people who understand its power and have experience analyzing it. When possible, try to get these people on board before your site launches. Having this expertise from the onset will pay dividends later on.
- Start collecting data early. By thinking about who’s coming to your site and how they’re interacting with your content from the very beginning, you can more easily adapt your product to their desires.
- Make sure that all of the analytics tools you use are compatible with one another. To get a true picture of what’s going on at your company, entertainment sites need to pull data from several sources — and it needs to be transparent. Having a unified platform will ensure that no data is lost along the way.
- Work with other companies in your space to standardize metrics and measurements across multiple sites. This kind of collaboration can help you compare apples to apples when data from your company, other similar companies, and even competitors’ sites are combined.
- Remember, all of this data exists not only to make your company better — but it’s also a great selling tool. In today’s environment of new media and shifting business models, companies that have a deep understanding of their users have a huge competitive advantage over those that don’t. If you know who comes to your site, what they do when they get there and how you can keep them coming back, why wouldn’t you tell everyone about it?
Importance of Social media:
As the entertainment space continues to evolve, it’s clear that data will continue to play a major role in how companies operate. The most successful players are those who have made efforts early on to hire data-minded employees and understand the importance of collecting information from all of their company’s tools.
While social media is an essential part of any site’s content-sharing strategy, it’s not always easy to integrate across different sites. To get the full picture of how your videos are performing, entertainment companies need to pull data from several sources — and it needs to be transparent. Having a unified platform will ensure that no data is lost along the way.
Making use of Social Media tools can help you in a big way. Social Media is the next best tool to boost your content and its popularity. However, it takes a lot of time and energy to do it yourself. You can simply give us your article or upload your videos( which you can make with our Video Maker Software).
Example of entertainment sites with these X factors
An example of entertainment sites with these X factors are as follows:
- American
- Yahoo! Entertainment
- Eonline
- People Magazine Site
- Vulture
- Thoughtnova
- The Artifice
- TV Guide
- Entertainment Weekly(EW)
- E! News
- People and EW Site
- TV news sites like CBS News, abcnews
- sports entertainment sites like ESPN
- Lifestyle entertainment sites like DarlingMagazine
How can data factors be explained?
In this article, “X” stands for something that new entertainment sites need to capture. This data factor can be explained as follows:
- First, entertainment companies need to collect information about their users’ viewing habits and interests – that’s what makes it possible for them to understand what consumers want.
- Secondly, they need to use this data across all of the company’s platforms – whether it’s a website, mobile app, or some other kind of new media – to make sure they’re delivering the content that fans want, on any screen.
- Having this expertise from the onset will pay dividends later on; start collecting data early and make sure it’s compatible with your company’s analytics tools.
- It’s also a great selling tool; if you know who comes to your site, what they do when they get there and how you can keep them coming back, why wouldn’t you tell everyone about it?
- Lastly, a collaboration between entertainment companies in your space will help you compare apples to apples when data from your company is combined with others’.
Conclusion:
Data is everywhere today. Big Data has taken over the business world and more than ever before companies are looking for tools to make sense of it all. Every organization is faced with an overwhelming amount of data, but only a few of these organizations can use that data in the right way. When it comes down to marketing data is king. Every day thousands of marketing campaigns are launched based on incomplete or incorrect data. This can have a big impact on the company’s revenue. One of the main things that are needed when it comes to marketing, is social media integration. Social Media has become one of the most powerful tools in any marketer’s toolbox, but only if used correctly.
