Senior Manager Peter Klass of GHJ Entertainment and Media Practice was interviewed by Business Insights on the segment “New Media Industry Trends: Consolidating to Meeting Customer Demands,” which aired Thursday, Nov. 12, 2015. The interview was conducted to discuss the Firm’s 2015 Entertainment and Media Whitepaper: New Media Industry Trends: Consolidating to Meet Consumer Demands.
During the segment, Peter highlighted current trends impacting the industry. “Monetization is the key concern in the entertainment industry as we move away from a traditional market,” Peter said. “People are consuming more content than ever before, but as consumers move away from purchasing content in favor of a subscription model, price points in the entertainment industry are dropping.”
Additionally, Peter predicts that product integration and placement will become a vital marketing strategy over the next three years. “As we’re moving away from appointment television and mass-supported television, advertising will need to be more targeted. It will have to reach out to consumers and their niche needs,” Peter commented. “Product placement and product integration – when stories are built around products – are going to be at the forefront of advertising.”