Social is eating entertainment The future of memes, music, social platforms, and beyond
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20,000 foot view
Entertainment is now a key reason consumers engage with social platforms, opening new opportunities for social and raising new challenges for traditional entertainment. Social platforms offer not only a place to consume original content IP, but to create content around it, engage with the content discussing and unpacking it, and interact with other fans and viewers. As a result, these platforms can monetise around this new core USP, bringing in a new era of growth. Meanwhile, traditional entertainment platforms must take care not to be disrupted as entertainment distribution, consumption, and engagement increasingly find a home on social.
Key data and insights in this report:
- Why all consumers and social media WAU’s use their predominant social platform, Q2 2024
- All consumers and social media WAU’s willingness to pay a subscription to social for different features, Q1 2024
- Analysis of consumer demand for different streaming-style subscriptions
- How community access optimises community-centric monetisation (e.g., Discord channels, Patreon subscribers, locked Twitch channels)
This report sources data from:
- MIDiA Research Consumer Survey, Q2 2024, US, UK, Australia, Canada, Germany, France, Sweden, South Korea, Brazil, n=9000
- MIDiA Research Consumer Survey, Q1 2024, US, UK, Australia, Canada, Germany, France, Poland, Turkey, South Africa, n=9,000
- MIDiA Research reports: "Analogue revival | A cultural pendulum swing"
Table of contents:
Words: 3408
Pages: 16
Infographics: 2
Key insights
Figure 1: The why behind social platform usage
Figure 2: The monetisation opportunity for social platforms and entertainment companies
Implications
Companies and brands mentioned: Charli XCX, Discord, Disney, Drake, Facebook, Hazbin Hotel, Instagram, Jools Lebron, Kendrick Lamar, Nebula, Netflix, New York Times, Patreon, Reels, Smile, Snapchat, Star Wars, Streamies, Spotify, TikTok, Twitch, WhatsApp, YouTube, YouTube Premium, and X