Social media consolidation and an increase in entertainment technology companies are creating a new entertainment experience for consumers.
July 17, 2021
4 minutes reading
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As people started losing their jobs at the start of the pandemic, there was a growing need for connectivity between peers. We saw the use of Instagram, LinkedIn and other social media platforms increase and become the dominant mode of communication in a world where personal work environments had largely ground to a halt. Networking was no longer optional, so many reached out to colleagues with heightened urgency, in an effort to strengthen connections to prepare for the potential fallout from another Covid outbreak and economic recession. In a post-pandemic world, this virtual connectivity trend may persist.
As people become more comfortable with asynchronous and hybrid work environments, the way we work and connect has changed. Many who resisted working from home and adopting emerging technologies have become accustomed to it. But what about those who did not have the opportunity to continue working? The economic toll of the pandemic is expected to leave more than 140 million people unemployed, and an additional 1.6 billion people at risk of loss of income, according to a study by LinkedIn.
The entertainment industry was left in shambles when lockdowns took place around the world. Audiovisual productions were discontinued. Movie theaters were closed. Events, premieres and entire marketing and distribution campaigns were postponed or cancelled. These production interruptions were in stark contrast to the fact that while people stayed at home, they consumed more content than ever before. Netflix on top 200 million subscribers during the pandemic, proof that the entertainment industry was still as valuable as ever. And Netflix wasn’t alone: worldwide streaming subscriptions passed the billion mark last year. And through it all, creatives didn’t stop creating.
The content gold rush
A contented gold rush is coming. It will strike in the second half of 2021 and continue well into 2022. During the lockdown, people didn’t stop creating – companies just stopped production. As studios reopen, streaming platforms will release more than ever before. How could creatives stay on track and get their projects off the ground?
One platform grew out of the need for connections between creatives and executives across the industry. Stage 32 sets a precedent for companies responding to a unique challenge within their industry. Many creatives simply do not have access to executives and do not know how to connect with colleagues, especially in a remote environment, but a specialized network makes this possible. Like LinkedIn, platform users can connect with leaders and gain unparalleled access to educational resources.
These resources and development opportunities are vital as they help creatives hone their craft while also connecting them with the creative community. It gives artists and entertainers a space to bring their projects down the pipeline, and it gives streaming platforms and network managers a glimpse into the creative process.
Leveling the playing field
Competition is fierce against broad social platforms, but with a targeted niche market, they give their users something that platforms like LinkedIn can’t: a direct connection to top executives in the entertainment industry.
“Production companies see us as a content marketplace and we are exploring it for them,” said Richard (RB) Botto, founder and CEO of Stage 32. “This way we can help them scale at a broad level. We partner with larger streaming platforms to find writers, producers and everything in between.”
Industry-oriented social platforms have something to teach us – finding and focusing your niche isn’t just a trend. It is a powerful tool that gives you a serious advantage. While larger social media channels dominate the market when it comes to user numbers, industry-specific platforms cut through the noise and offer a more customized experience.