In preparation to make these industry-shaking discoveries public, let’s discuss a few of the key findings from the study as a preview, of sorts. While this is only the tip of the iceberg, my hope is that it serves as a conversation starter moving into the release of the study.
On Tuesday, October 12, CEO Daniel Anstandig will present a series of webinars with takeaways and action steps for using the information from our SmithGeiger study to grow your content, audience, and revenue. Hopefully, you can register for a spot for this exclusive event.
The Purpose of The Future of Audience and Revenue 2021
When we got the ball rolling for one of the most innovative media studies ever recorded, there were three big questions that were common threads through all the uncertainty we identified in the current media and audience landscape:
- How Americans perceive, consume, and pay for media content today, particularly now that we’ve been experiencing pandemic-related disruptions for more than a year and a half.
- How media executives perceive the sector and its ability to meet future challenges.
- How media executives can leverage technology to impact content, audience, and revenue growth
We were resoundingly successful at not only answering those questions, but implementing the answers into action steps that can be used to unlock revenue growth and enhance ROI. This helped lead to our key findings.
Key Findings from The Future of Audience and Revenue 2021
Futuri Media analyzed the results from SmithGeigerGroup’s work to break the findings down into VERY specific industry-level takeaways — many of which we’ll discuss during the October 12 webinars.
But, for the sake of this blog, let’s discuss a few higher-level findings that apply to all industries.
Social media is the greatest opportunity for content, audience, and revenue growth.
No longer can we identify ‘alternative’ news sources because those we used to consider as such have all become mainstream. Mainstream to the point, even, that many people are consuming more news on social media than the “traditional channels” of old — eye-opening numbers that will be revealed in the whitepaper. But fear not. This is an opportunity, not a challenge. If we can embracing and master new platforms and channels, it’s a huge opportunity to reach new markets and user profiles with the content that they want while using the medium they choose to consume it.
Investment in social and digital platforms is essential for growth.
Piggy-backing off the first point is this: while social media and digital platforms are an opportunity, they’re also a necessity. To keep up with the industry, we much make the required changes in company culture, strategy, systems, technology, and personnel in order to meet the opportunities of the new normal. It will take hard work and considerable investment, but those investments will unlock more revenue potential down the line.
The Modern Audience Can’t Get Enough
If the pandemic’s impact on the industry needed to be reduced down to one thought, it’s this: people want more. More news. More entertainment. More social media. Overall, the demand for media has never been more robust. Today, 41% of Americans are consuming more than 10 hours of video per week, and 64% consume more than 5 hours. Between Q1 and Q2 2021 alone, we were astounded to discover that:
- 57% watched streamed content more often.
- 51% watched TV more often.
- 48% used social media more often.
- 30% listened to local AM/FM radio stations more often.
In other words, while the industry is changing, there’s never been a better time to be a part of it. The tree of opportunity is ripe for the picking.
And the number one finding…
Our biggest key takeaway — one that significantly impacts every vertical of the industry — is something I’m too excited about to share in a blog post. I’ll be revealing that industry-shaking discovery and much more in the October 12 webinars, so we hope to see everybody there!