Digital Domination: My Key Takeaways from Digital Hollywood and the Future of Entertainment

I recently attended Digital Hollywood Fall 2014 conference, held in Southern California, a leading trade conference for senior executives in film, television, music, home video, cable, telecommunications and technology. At this year’s conference, industry thought leaders congregated to share their insights on the new future of digital media. How do we better engage with consumers, capture the power of online channels like YouTube, and utilize digital technologies to usher in the new era of digital media and marketing?

In the life of digital, the past several years have been marked by transformative changes in how people interacted with technology, how content evolved the new media paradigm, and how businesses developed through digital advertising and commerce. The profound changes in digital consumer behavior have occurred across a variety of sectors, including mobile, social media, video, advertising, search and e-commerce, and are the result of transformative shifts in platforms, content, demographics, and marketing.

From advertising to distribution, digital media continues to disrupt the entertainment industry as consumers are shifting behavior patterns in regards to how they consume content, the industry’s bread and butter. No longer do we watch our favorite shows on television or go to the movie theatre to see the next big release. Rather, it’s all about video platforms, and this means that from the studios to brands and advertisers, we need to embrace this ever-evolving world of content and distribution channels.

My key takeaways from Digital Hollywood include:

1. When we talk about social media, mobile apps, smart phones and tablets, it’s all about the always-connected consumer. Now, more than ever, it’s vital to know who the influencers are, what they like and their behavior patterns in order to influence them.

2. YouTube has made “everyday” people into celebrities. YouTube stars like Michelle Phan and their followers are influencing the attitudes of millions of people who are following them. When engaging, it’s important that the brands are genuine in their marketing methods.

3. Gone are the days of thinking about a producer as someone who sits in a chair and directs the action. With the multitude of today’s media channels, there is a blurring of the lines, as ordinary people produce amazing and marketable content all the time.

4. Content is king, which means marketers must produce quality content and technology companies must deliver that content on multiple devices on a 24/7 basis. Today’s brands are equated to the quality of content distributed to a multi-platform majority.

5. It’s all about video, not audio. And if we talk about audio, it’s embedded around video and content.

6. Interactive reality TV is the next big thing on the horizon –people playing real-time while reality TV is in play.

7. Over the Top TV is here to stay, as evidenced by HBO launching its OTT channel. As OTT grows in popularity, it will be easier for people to cut the cable cord, but the à la carte selection will quickly become more expensive than cable.

8. Consumer experience is key. Whether it is content or digital and social engagement, you can only expect consumers to become loyalists if they feel connected with you.

After spending time at Digital Hollywood, both as a speaker and an attendee, my conclusion from the conference is that the digital future of media is here, and this means media companies and brands need to get ahead of the changing landscape.

Digital technologies have transformed the relationship of content owners, distribution channels, and consumer engagement. Consumer behavior is evolving as fast as new technologies are emerging, and it is a never-ending challenge for both marketers and media companies to adapt to the present realities – but they must always do so with one eye focused on the future to ensure they invest their resources wisely.

The extraordinary challenges of a ‘new world’ media landscape have created a premium for the ability to solve increasingly complex problems. Fortunately, the evolution in technology infrastructure, big data and marketing measurement systems promise to help realize the potential of the digital age.

~Written by Akash Jain
Head of Consulting & Corporate Development at Brillio

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