In the United States, the entertainment industry at the end of 2020 was worth an estimated 720 billion dollars, increasing by over 50 billion dollars since 2018. A huge part of the expansion of the entertainment industry is marketing. After doing much research about the marketing aspects of entertainment companies, I have come to the conclusion that like most other companies, entertainment companies were also affected by Covid. However, unlike most companies that were negatively impacted by Covid and the regulations that followed, many entertainment companies became successful due to the increase in people who watch television and listen to music as a way to spend time during quarantine.
Staying at home is increasing media consumption, allowing people to find new genres that they are interested in. This allows marketers to market TV shows and movies to a wider range of audiences. For instance, a lot of teenagers have been watching TV shows geared towards children, such as Julie and the Phantoms and Miraculous Ladybug. The marketing teams for these shows can promote the show to teenagers now, as well instead of just children. After talking to my friends and family, most of them admitted to watching new TV series and movies that they never would have considered watching before quarantine. For instance, one of my friends, who has never watched a horror movie in her life, has binge-watched almost every horror movie on Netflix.. Since many people are trying out new films and TV shows, those on marketing teams are able to promote to a wider audience.
More social media use (with popular platforms like Instagram and TikTok) makes it easier for entertainment companies to promote their projects. Especially on TikTok, it is a lot easier for teens to share videos, allowing for a show to get more publicity. Many artists have also been using social media to advertise their music to teenage audiences. There have been many viral songs that have given the artist more publicity and recognition. For instance, Olivia Rodrigo promoted her new song, “Driver’s License”, through TikTok, and it became #1 on the Official Singles Chart. TikTok also introduces people to new artists and songs that may not be playing on the radio.
If you’d like to read more, check out our sources:
Capgemini | “Covid-19 Outbreak Global Outlook”
Forbes | “Season 2 of “Outer Banks” Is Poised To Break Some Netflix Records”