THINK: The Four Ideas That Matter in Digital Media This Week
Your 60-second read for 9/20: hello, Skittles; oh no, Emmys; Elizabeth Warren takes on a banker; and more. This is what matters this week in digital media.
Forevermore, the real digital media currency is attention. There are too many platforms with too many posts to ever get through all of them. In a world of media saturation, what rises to the top? Whatever shocks and entertains. This is why our world is overrun by celebs who know how to do this oh so well. Kim Kardashian knows this. Taylor Swift knows this. Politics aside, Donald Trump is Emperor Attention. He dominates the news cycle, every day, and we all participate, engaging on the left or right on whatever he said, or didn’t say. This week, Trump Jr. has taken Dad’s lesson to heart - with a tweet comparing refugees to candy. And Skittles be all like, what did we do, we're just bright and colorful. Their response, epic (“Skittles are candy. Refugees are people.”). See, I’m writing about Trump. He wins again.
2/Oh no, Emmys!
I love the Emmy Awards, and that’s because I love TV. But there aren’t enough of me to make up for declining Emmy viewers. Is this due to stiff competition (both the NFL plus that JonBenet Ramsey TV special)? Is it cord cutting millennials, down by double-digit percentages? Is it the lack of any big hits (go Veep, but not enough peeps watch you)? Are award shows made for a Boomer or Gen X generation that just don’t care? Broadcasters need to hold on to live events like the Emmys or the Super Bowl to drive ad revenue. Change is coming. Stay tuned, they hope. More from Ad Age.
3/Media companies love - and worry about - Facebook.
Media companies create content like articles. They get audiences to read them. Then, they sell ads against those audiences, and there you have a business model. So, what happens when someone comes along with 1.7 billion users and offers to let you publish directly on their platform? You gain a huge audience and opportunity for monetization. There’s only one catch: lack of control, and therefore, predictability, which is a no-no in business. Facebook’s algorithm can (and does) change on a dime, and what was a firehose of readers can turn into nothing, overnight. So, what do you do? There’s no easy answer, other than, do not put all your eggs in one basket. Your own traffic matters. Watch for stalwarts like The New York Times, plus upstarts like Vox, to make some moves. More from Digiday.
4/Even ho-hum Senate Banking Committee hearings can go viral.
Wells Fargo: remember the old Boy Scouts motto, “be prepared”? Politics aside, If you are a banking executive being called in front of Elizabeth Warren, you can bet you will not be facing friendly fire. You prep, you practice, you have answers. If you are a banking executive, you don’t call a scam “cross-selling.” And you don’t fumble the ball. Because in an era when so many feel powerless, a stumbling banker being called to task is something that everyone wants to see. The grilling has almost 900,000 views and counting. Now, that’s entertainment. More from Ms. Warren.
Todd is the head of marketing at CakeWorks Video and the head of digital strategy at Hastings Digital Studios. Sign up for CakeWorks’ Worth Reading Video News, the once-a-week must read video newsletter!