The previous post of this segment explained possible avenues for extracting monetary value from creative content. Ted Reilly also gave his take on why he views creative content as an emerging alternative asset class.
In this fifth and final portion of the series, our panelists responded to an audience member’s question asking about the impact of technology on the way filmmakers finance and distribute content. According to Ted, there is an obvious trend towards episodic content with a flexible time frame. He foresees a world in which viewers are able to choose their cinematic adventure without the constraints of traditional film structures.
Although shortening attention spans have created a demand for more condensed segments, consumers still want the story to live on forever. Because of this, episodic content with the capacity for a continuous plot is attractive to investors. This concept of a never ending story can also be applied to social media, using sites like Twitter to keep an audience engaged. Constructing more innovative environments for stories to exist will not only please fans, but also will create yet another forum for commercial viability. According to Ted, the more places that your media property can live in, the more opportunities you have to monetize it – for example, in the form of commercials and advertising, as well as product integration.
Angie Gaffney concurred that the industry is changing, and as technology continues to advance, techniques of creating and distributing content will similarly evolve. While no one really knows the future direction of the industry, according to Angie, “pioneering a new way to do things is at your fingertips.”
In an age when content is available with the click of a button, knowing how to reach your audience is a must. For this reason, Angie revisited the idea of Kickstarter as a marketing tool. Above all, the safest bet is to stay tuned and position yourself to be adaptable.
Bobby Schwartz agreed with both Ted and Angie in their assertion that technology is inevitably changing the film industry. In order to thrive in today’s digitized world, you have to think outside the box. Bobby reminded the audience, however, that even the stereotypically “creative” companies are using data to predict consumer needs. Once again, there is no shortage of opportunity nowadays, but the difficulty will come from finding new ways to capitalize on it.