Factors contributing to the success of a show/series
Today, the concept of “television” is much broader than the actual device it was initially named for. No longer limited to a stand-alone, standard-issue product, “TV” now refers to content available to us through an infinite mix of devices, channels, and services. The world is more dynamic than ever — we can watch TV on mobile and video game consoles. Through our TV sets, we can make calls or order personal assistants. Antennas are a remnant of the past. We do not even need a cable subscription for viewing our entertainment programs. The Covid-19 pandemic has forced everyone to stay confined in their homes. With very little means of entertainment, people resort to streaming platforms like Netflix and Amazon Prime Video for their daily dose of entertainment. Netflix nearly got 16 million new paid subscribers and its revenue is expected to grow to $5.77 billion dollars.
The entertainment sector is split into ten segments naming- Television, Online gaming, Radio, Animation, and VFX, Out of home (OOH), Music, Digital Media, Live events, Films entertainment, and Print. According to KPMG, Digitalization has played a significant role in the growth of the Indian Film Industry, which is expected to grow at a rate of 11.9% by 2020. With rising growth opportunities for every segment, there rises the competition. As we reached in 2020, it is clear that the rise in video streaming will tend to accelerate. In fact, in Deloitte’s most recent Digital Media Trends Survey, more respondents indicated that they had at least one streaming video subscription (69 percent) than having a traditional pay- TV subscription (65 percent).
Creativity, distribution, and monetization were linear in the traditional M&E model. For the most part, users were passive, waiting for information that had been made available at a time determined by others. Nevertheless, today, Digitalization has created a new world that is automized and diverse. As a result, M&E consumers are much more powerful. Their expectations are steadily rising around how products and services should be delivered. Consumers expect media and entertainment providers of all kinds to deliver choice, convenience, and value, all wrapped in customized experiences that are available on-demand and on a cross-platform basis, with limited advertising.
Intensive competition for various OTT platforms and advertisers, combined with an ongoing rise in people’s preference to watch movies and series on these platforms, has put a top-level pressure on many M&E companies. Success usually is measure by market share, viewership, goodwill, turnover and recognition. In order to gain all of these, the following factors play an important role:
1.Content: Good content is the cornerstone of a successful show. The content you produce delivers some message, teaches your followers, and persuades them to subscribe to your services over your competitors’. In reality, one of the most important things you can do to acquire consumers and build value is to deliver high-quality content. Various facets of content influence success, such as genre, quality, novelty, actors, authors, exclusivity, etc. Consumers are looking for content that can retain their attention by producing a compelling narrative and providing knowledge that they can use. Actual facts delivered as part of a convincing story or anecdote pulls the viewer in and provides them with a context to relate to their situation.
2. Form/Design: ‘Mise en scène’ — literally “placing on stage” in French — is a common term in film analysis and criticism circles. To explain it simply, mise en scène refers to what we see onscreen in a film. It’s the film’s visuals, meaning, all of the elements that appear on camera and their arrangement. This is an essential part of the success factors. The way a series look appeals the viewers. It includes the locations, props, costumes, sets, lighting, cinematography, etc. Furthermore, the structure and organization of scenes also matter. If the scenes are correctly linked, the viewers understand better.
3. External Evaluation: Getting validation from someone external to your organization increases the chances of people watching your show. It includes the media coverage of your presentation, top reviews by official websites, awards, and word of mouth. Because if people feel your presence around them, they are bound to watch the show.
4. Marketing: Marketing is not merely selling. Marketing aims to know the customer so well that the service suits him and sells itself. Marketing creates a utility for customers. To make a show successful, marketing facets such as branding, brand management, and positioning, pricing, audience, and advertising market targeting, community building potentially impact success.
5. Organizational aspects: As much as the external factors can affect the success, the internal factors can do the same. The management, leaders with reputation, and competent employees increase the credibility of the show. Internal communications, decision making, budgeting, and planning also affects the successful landing of the show. Employees are the most valuable assets of a company. If you have experienced, motivated, competent, qualified, and talented employees who put their heart and soul in their work, you have nothing to worry about.
The above were just a few of the many factors that could affect the success of a show. The next decade is all about innovation and creativity. The M&E industry will be the largest beneficiary of this change. Changes are already evident in emerging business models and consumer consumption of media content. Only a couple of years ago, customers were delighted to be able to watch a movie or television show on several devices. Consumers expect personalized experiences from mobility and financial services to communications and entertainment throughout their everyday lives. More online content is being viewed, shared, and heard by consumers today than ever before. Thus, consumers will have a wide range of options to choose from and pay for what they want to consume. So, the only way out of the competition is to create, develop, or acquire extraordinary content that attracts and engages them.
