According to a recent Edelman report the entertainment sector is on the cusp of undergoing an experience revolution. One driven by today's audiences which are demanding that creative organizations go beyond content creation into producing compelling experiences. Experiences that distinguish themselves and have consumers wanting to coming back for more. Take a look at these findings:
- 70% of people 18-34 in the U.S. consider social networking to be a form of entertainment.
- In 2010 the Internet surpassed movies and is now second only to TV in both the US and UK.
- Social networking scored the highest in perceived value, with 40% of U.S.
The implications are clear. Entertainment business models must go beyond focusing on great content but must also stretch the envelope creating compelling, interactive experiences for consumers. Experiences that not only get consumers more deeply engaged but can also increase their value perception.