March 4, 2016 | Written by: Hayley Yudelman
Categorized: AI for the Enterprise
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The Oscars last week got us thinking about how the Media and Entertainment industry has changed over the last 50 years. Once we sat around the television watching the Oscars live with no opportunity for sharing our comments, ideas, and opinions on social media. Now we can view the awards ceremony on our laptops while we simultaneously watch the coveted nominees live Tweet, Snapchat, and Instagram the event – giving us our own VIP digital ticket to the show. One example of this is in 2014 when host Ellen DeGeneres tweeted a selfie with her and a bunch of high-powered stars. She literally broke the internet as Twitter’s servers went down for 20 minutes due to the instant surge of 3.4 million retweets. The event has become a platform for both the Oscars and its stars to engage with their fans and grow their digital following. The Oscars isn’t the only show that has changed its strategy to entice the new digital viewer. Pretty much every company that touches the Media and Entertainment has had to evolve.
Why is this the case? We came up with three main reasons…and solutions.
- Consumers use digital to engage with our idols, which results in billions of posts per year
68% of CMOs report being unprepared for the growth in social data
Ampsy and Watson are working together to help brands, such as Jimmy Kimmel Live, tackle difficult marketing challenges in the entertainment industry. With millions of social posts generated each day, marketers are looking to Ampsy to better understand the incoming data to more effectively engage their audience. Their solution automatically aggregates and categorizes fan’s posts across channels in an easy-to-read dashboard. Ampsy also uses geofencing capabilities to capture posts that occur in a certain location, as well as the Sentiment Analysis API that reports on the personality of their audience. This helps their clients quickly engage with the fans and influencers that will increase their brand exposure. By doing so, they are creating a digital VIP experience for their fans.
2. Consumers expect a personalized and easy-to-use product experience
In the US, Nielsen SoundScan has confirmed that paid song downloads are down 12% in 2014, from 1.26bn to 1.1bn, while song streaming rocketed from 106bn to 164bn.
A music intelligence company called Quantone is using Watson services to curate personalized music playlists for listeners with an application called “Music Geek.” Their algorithm not only uses album titles or artist data, but also music journalism, expert opinions, and deep metadata. For every song recommendation, there is a highly intelligent recommendation behind it. Quantone analyzes 4 million+ pages per minute to deliver music recommendations to their listeners. If you’re looking for a highly personalized playlist for your daily activities, look no further than Quantone!
3. Consumers’ interests are constantly changing
63% of CMOs report being unprepared for shifting consumer demographics
Solution: Equals 3 Media
Equals 3 Media developed a media research, planning and buying application called Lucy that helps clients, such as Havas Media reduce their time to launch a campaign. Their end-to-end solution allows media planners and brand managers to plan their campaigns in less time, while increasing their accuracy. By combing their own technology with API’s such as Alchemy Language and Natural Langauge Classifier, Lucy helps media buyers and brand managers by providing easy-to-use data analysis, suggestions to segment their target audience, and industry research in an easy-to-use format.
Want to experience more Watson in the Media and Entertainment industry? Our team is an API sponsor at the SXSW Music Hackathon on March 15. We are excited to see what innovations are developed in just 24 hours. If you’re in the Austin area, come check us out!
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