The devastation currently being wreaked on the business previously known as television is without precedent.
Change has come because the fragmentation of media and entertainment makes it virtually impossible for one piece of content to demonstrate an acceptable return on investment for the writer, producer, financier, distributor, channel or platform supporting it. As it turns out, you can have way too much of an average thing.
Fragmentation is exacerbated by the migration of audiences to the fresher screens of mobile- and internet-delivered entertainment, which in itself redefines the sort of content younger audiences in particular want to watch.
YouTube is becoming the number one platform for TV viewing worldwide. Social video is the Netflix killer. This is the future of content. The content business needs to understand and embrace this more than any other trend.
And alongside these changes AI will supercharge the democratisation of content creation, providing those who want to enter the space with everything they need to make a show as ‘professionally’ as a mainstream TV drama for a fraction of the price. It will also provide that opportunity to the traditional business to provide a new framework for future development.
There is no doubt that some traditional TV producers, distributors, channels and platforms will survive. But right now we are burning off the excess. But many won’t. There’s just too much. It’s too expensive, and a complete reset of the economic business model will influence what happens next in that traditional sector.
C21 is about helping you Define Your Future In The New Content Economy. From daily news and features that put things in perspective to a raft of channels that take a deep dive in to the issues that will impact your business.
We provide daily perspective on how to:
1. Make it cheaper
If you do finally manage to get a commission, the commissioning budget will be much lower. AI will help you make shows for up to 75% less. Without it you will not be able to compete. Get into it before it’s too late. It’s coming fast, and when Sora arrives, text-to-video will change the game beyond recognition.
2. Make it smarter
AI will also allow you to create multiple versions for different territories, platforms and audiences, extending your opportunity across markets and platforms previously not available. Understand how to do that now and embed it in your workflow.
3. Think Elastic: it’s not Digital First it’s Everything Together
Don’t buy into the already-tired notion of ‘digital first.’ Content should be conceived as something that works EVERYWHERE. It’s ‘elastic,’ and it doesn’t stop at the edge of the screen. Content is manifestos for tribes and it needs to cross borders without a passport. Think different.
4. Find new partners
NEW partnerships have never been more important. Coproduction is vital, but not just within the TV space. Find your window and bring your best game to the table to collaborate with new partners from all corners of the world and from every sector: brands, retail, tech, celebrity, games, fashion, music.
5. Talk to commissioner brands
Money talks. And advertisers have a fresh appetite for backing content. They are the new commissioners and what was once the cheese and biscuits of branded entertainment may become the main course of content development.
6. You are a creator – go direct to your audience
TV writers and producers are part of the creator economy. They just need to reimagine their commercial model and strategies to take ideas to market. It doesn’t need to be commissioned – it just needs to find its audience, everywhere. Self-publishing is already the future of books, it’s also the future of TV.
Understand YouTube, Snap, TikTok, Instagram, Patreon, Substack, FAST and every other platrorm and take your content there. When you walk into a room with a pre-defined audience you walk in with a swagger. Don’t creep in unannounced.
7. Be comfortable with the third window
TV still has a role to play. But you can have a seat at the table without being first. Accept it and embrace new partnerships with new creators and a different position in the value chain.
8. Start dating again
There are lots more fish in the sea. But you need to swim in a new ocean.
9. Celebrity and legacy IP will be replaced by new voices and authenticity
You don’t need a heritage entertainment brand to succeed in The New Content Economy, you need a fresh voice. Authenticity is replacing celebrity and talent comes from the ground up.
10. There’s no going back – get over it!
This is not a blip. It’s over. You need to move on. But this is not the end, it’s the end of the beginning. The old models will not work in The New Content Economy, so stop trying to make them happen – they’re not going to happen.
Please review our channels and come with us on a journey that puts your future first.
