CAPITALIZING ON US NEW MEDIA AND ENTERTAINMENT OPPORTUNITIES

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My Austrade presentation as part of the Local Revival. Global Reach series. …

My Austrade presentation as part of the Local Revival. Global Reach series.

The US-based Austrade team is bringing US new media experts to Australia to guide you through what’s happening in this exciting market and present current business opportunities

Hear about US business opportunities available to Australian companies in creative industries
Understand the impact of media, technology and entertainment convergence
Learn how you can impact the digital media sector to drive profits, and succeed and sell your services into this market
Understand the various trends in social media including mobile and branded entertainment
Hear from case study speakers on distribution platforms, easurement
and how to run an efficient company with online tools
Network with others who are currently operating in or who are considering joining the market.

More in: Technology
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  • 1. CAPITALIZING ON US NEW MEDIA AND ENTERTAINMENT OPPORTUNITIES
  • 2. My goal: To give you the tools and help you understand how to sell your products or services to US companies in the shortest amount of time and with the least amount of money
  • 3. My biggest lessons •  Look at a problem through the lens of consumers. Your USP should be different for each audience. •  Begin with the audience and strategy first. •  If things are going poorly, customers will call BS quicker than you can fix it. •  Brands are lazy and don’t like sifting through lots of ideas. •  Act with integrity no matter what. •  Worry about making something useful, not how disruptive you can be. •  Sometimes you just need to do the work to prove your value. •  Invest in relationships, not deals.
  • 4. Changing landscape: Media, technology and entertainment are converging
  • 5. A really simple snapshot of the old model
  • 6. But technology has changed the traditional dynamics
  • 7. Social media explosion The Social Web  • Social Media has overtaken pornography as the number one online activity • Over 1 Billion people use social networking tools • It’s the fastest growing activity on the internet • It’s the fastest growing form of corporate marketing A New Profit Center • 66% of marketers utilized social media in 2009 • 55% of marketers shifted funds from their traditional marketing budget • $3.1 billion marketing spend by 2014
  • 8. Mobile growth •  Apps sold: over 58 million app store users spend an average of $4.37 on apps every month in the $1.5 billion per year Apple app market place (paid & free ad-based app revenue). •  Mobile adoption: Mobile US internet adoption outpaces desktop adoption by 10 quarters with 51% of phones expected to be smart phones by Q3 in 2011. •  Mobile ad spend: over $1 billion in 2012 . •  Master impact: 63% of brands plan to create a mobile application in the next 12 months.
  • 9. Branded entertainment expands •  Spending on branded entertainment grew by 5 percent in the U.S. in 2009 to reach a total of $26 billion. It is expected to grow another 8 percent to $28 billion in 2010. •  In 2010 some 62 percent of marketers are shifting funds for branded. entertainment away from traditional TV budgets, up from 52 percent last year. •  Consumer video camcorders (and digital cameras supporting video capture capability) which range in price from $150 - $2,000. •  Return on engagement is greater than return on insertion. •  The internet offers near endless distribution opportunities.
  • 10. Network Network Ad Production Sales Brand Creative Production Creative Mobile Platform Online Distributor Social /Exhibitor Network New Content Creators Technology Company Interacti Talent Mobile ve Agency Agency Agency Production Agency Company Social Design Media Agency Agency
  • 11. Brand Entertainment Landscape Producers / Distributors/ Exhibitors Content Creators / Producers / Exhibitor/ Distributor
  • 12. Good News! Chaos breeds opportunity.
  • 13. Create a personal brand Strategy & Tactics • Build a personal brand with over 1 million followers • Legally changed his name to Chad Ocho Cinco in order to circumvent NFL’s policy. • Ustream channel with 9,000 follower • a Motorola-sponsored Facebook fan page with over 20,000 followers, • And his own iphone app • A reality TV dating show on VH1 (Ocho Cinco for 86 dates)
  • 14. Create a show for a brand Strategy & Tactics • Revitalize Altoids edgy “cool” brand • Successfully integrate brand message into scripted content without sacrificing entertainment value • Build momentum using Facebook and Twitter • Launch marketing campaign utilizing Daily Motion for an exclusive launch
  • 15. Create a transmedia series Strategy & Tactics • Create a digi-novel in which each book will be supplemented with 20 videos, or "cyber- bridges," featuring actors playing characters from the novelMade it available for $13 on iTunes • Allowed the community of roughly 30,000 Level 26 fans to impact future storylines for the projected three-book trilogy
  • 16. Take a virtual roadtrip Strategy & Tactics • Google Maps Road Trip was the first live-streaming broadcast cross-country road trip: using only Google Maps, the pair drove from Los Angeles to Richmond, VA • Ongoing chat room, allowing people to join the roadtrip as passengers
  • 17. Expand to ancillary channels Strategy & Tactics • Find an alternative outlet that allowed for my personal engagement with fans • More than 50 million downloads in its first year — and was named iTunes’s best audio podcast of 2009. Carolla now has 2.8 million listeners a month • eMarketer predict that U.S. podcast listenership will approach 38 million by 2013, more than double 2008’s audience
  • 18. Start a blog Strategy & Tactics • Young Black and Fabulous simply because I was just another young black woman addicted to celebrities, gossip, and how they lived the fabulous life  • One blogger and several contributors= 250k monthly uniques
  • 19. Create a contest Strategy & Tactics • Murphy-Goode was looking for a “Lifestyle Correspondent” to live on site at the Murphy Goode winery for 6 months, learning all about wine, wine making, wine tasting and surrounding Sonoma wine country • Over 2,000 qualified applicants and 100,000 fans • BUT, ex-TechTV and Revision3 host Martin Sargent was the clear winner. His submission received 6,600 votes, more than 3 times as many as the second place video, and more votes than the next 4 or 5 candidates combined
  • 20. Build an app to revive sales Strategy & Tactics • Option for customers wanting to order their pizza, pasta and wings from Pizza Hut while on the go • After being live in the App Store for three months, the Pizza Hut application for Apple’s iPhone and iPod touch has surpassed $1 million in sales
  • 21. So what does this all mean and how can you capitalize on the opportunities?
  • 22. Communities drive brands, conversations drive traffic • Social capital (size of community+ volume of conversations) = money • Average media value of a Facebook fan at $3.60 • The most influential twitter, Kim Kardashian, is paid $10,000 Per Tweet Position yourself to capitalize on opportunities •  You MUST become a social brand- selling directly to your audiences and building your services/brands into their conversations •  Content owners, media distributors and agencies need to build a new set of capabilities now: cross-platform innovation, greater insights, open collaboration and digital processes
  • 23. It’s all about conversations
  • 24. And what does this all mean for finding opportunities in the US?
  • 25. What you need to know to sell your services •  You have two choices: Be everything to everyone or be something to someone •  Look at advertising agencies as general contractors •  Tell your story: Start with market research and focus on a key insight on why you matter •  Focus less on media and more on conversations with fans •  Simple modest goals are most likely to succeed
  • 26. Where to focus your efforts •  DO NOT spend money on sales and biz dev employees (before you really need them) •  DO find partners to upsell your products and collaborate on pitches • DO NOT spend time on a fancy sales presentation or flattering egos •  DO spend time offering your service or product at a discounted rate to create case studies for your company
  • 27. +1-310 584 7362 Ryan@hooraysociety.com Twitter.com/hooraysociety Facebook.com/Hooray Hooraysociety.com