7 Critical Strategies Hollywood Must Learn from the NY Times Innovation Report

Screen Shot 2014-05-30 at 9.46.54 AMThe New York Times innovation report that was leaked earlier this month, is a must read for anyone who works in media. It is indeed one of the key media documents of this age with a lot to teach a struggling Hollywood. The challenges facing the newspaper industry are very similar to those facing Hollywood. Both content creators are struggling to evolve in a changing media landscape and Hollywood would be wise to use the problems and solutions the NY Times innovation report illuminates to guide Hollywood in its evolution into Hollywood 2.0.

If you don’t have time to read the 97 page innovation report, here are the top 7 take aways for Hollywood to know … and start implementing!

images1) Shift Industry Goals, thus Efforts

NY Times: They need less thinking and resources (time and talents) put towards the “front page”, more thinking and resources put towards developing and reaching an online audience. (p. 90)

Hollywood: Less thinking and resources needs to be put towards first weekends, broadcast eyeballs or four quadrants, and more thinking about creating cross-platform, monetizable story experiences for audiences. Basically, by focusing on old goals Hollywood is misusing time and money and missing out on revenue opportunities, thus leaving money on the table. Continue reading

21st Century Entertainment Strategies: Re-thinking The Biz

Unknown-3The entertainment industry was built on a media system that no longer exists. The media system that has emerged is embodied with new innovations, multiple platforms for exploring the art of storytelling and opportunities for audiences to participate and engage with story like never before.

Every time a new innovation hits the marketplace, it upsets the existing system meaning that the media system will be ever-evolving (see Disruptive Storytelling). The days of a media system that remains the same for 100 years have come to an end. This means that in the entertainment industry, change is the new normal and constant evolution a necessity.

Despite this evolutionary shift, the struggling industry continues to rely on entertainment strategies built on a system of the past that has changed and will continue to change. It’s time for new, evolved strategies to lead the way toward transforming the art and business of storytelling back into a robust industry.

What are the key principles of 21st century entertainment strategies?

  • Creating meaningful, engaging story experiences.
  • Using new technology to innovate the art of storytelling.
  • Collaboration between storytellers and marketers.
  • Innovative budgeting and distribution models.
  • Inviting audiences to actively participant in story.

It’s a tall order, indeed. Though those story visionaries (see Story Entrepreneurs) who are willing to take risks, evolve and embrace new strategies, will be the ones that lead this industry into a new age of brilliance.

A Brüno Case Study: The 2009 Audience uprising! (Part 1)

Part 1 – The Story of Brüno

bruno_posterWith the rise of social media, there has been a dramatic shift in audience behavior and how they gather information and choose which movies to attend. This shift has had a dramatic effect on how we measure a movie’s success (or failure) at the box office, and in the ethos of culture. In the past, opening weekend numbers indicated a film’s success – a testament to the marketing campaign and the studios wisdom in choosing a successful story. Today, social media provides a means for the audience’s voice to grow louder than that of the marketing campaign. Which makes it extremely challenging (if at all possible) to sell a bad movie to the masses.

When did this change? Back in 2009, we saw the shift when Universal’s Brüno hit the marketplace. Let’s break it down and see what happened and what it means for releasing films today. Continue reading