Branded Entertainment
The Attention Economy is upon us, be careful how you invest!
Consumer attention has become the rarest of commodities, as the principles of this ‘attention economy’ remind us. So the costs of production are no longer ‘cost drivers’, but have become the new ‘value drivers’. This includes the cost of writing, especially if we assume that these new formats demand the skills of authors rather than creatives.
These brands, acting as media or entertainment providers, are indeed targeting an audience, and are no longer addressing what they usually consider as ‘prospects’ or ‘consumers’. In an attention-driven economy, attention has to be earned and rewarded. An audience, by nature, is fickle and demanding: it will decide whether or not to interact with the content/experience offered by the brand according to whatever ‘perceived value’ the right communication strategy or PR campaign will manage to attach to it.
The ‘real value’ delivered by the experience (in this case an entertainment value, as we are talking about branded entertainment) will reward the audience for the attention it chose to allocate to the operation. As a result, audience satisfaction with the content/experience will be a key driver of talkability and actual recommendation.
A piece of content will live or die based on it’s ability to forge a real emotional connection with the viewer.
The smart moneys says that the saviest consumer will soon demand entertainment in place of advertising.
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interesting article, this is what I was talking about at yours french fest Sunday