“We compete with (and lose to) Fortnite more than HBO.” This matter-of-fact assessment from Netflix, the world’s biggest streaming company, provoked a stir among media commentators and analysts earlier this year. Yet the logic is there: Netflix has 149 million subscribers, compared with 250 million users of Fortnite’s Battle Royale gaming platform. Time spent on traditional media is in decline, and consumer attention is getting harder to win and keep. Content needs to be more and more engaging – the success of Netflix’s own Black Mirror: Bandersnatch film demonstrated the strong consumer appetite for more interactive forms of content.
Why Every Company Needs to Think Like an Entertainment Company
Consumer attention is key in every industry.
May 09, 2019
Summary.
As time spent on traditional media is in decline and consumer attention is getting harder to win and keep, content needs to be more and more engaging. Media companies are not alone in seeing the future of consumption in the convergence of content, gaming, and interactive services. Next-generation technologies such as virtual and augmented reality, AI, the internet of things, and haptic technologies mean every company will need to think and act like an entertainer.
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Digital Intelligence Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Digital Intelligence . Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Excel in a world that's being continually transformed by technology.