How can the entertainment industry attract new viewers?

It’s no secret that times are difficult financially for many households’ incomes. At such moments, luxury goods are often the first to be scraped out of the household budget. This often includes payment for television and film subscriptions.

It’s no secret that times are difficult financially for many households’ incomes. At such moments, luxury goods are often the first to be scraped out of the household budget. This often includes payment for television and film subscriptions.

But in a digital age with so much competition, streaming giants and film studios have to make sure that new viewers arrive. Below we discuss how the entertainment industry can stay strong and vibrant in the years to come.

introduce incentives

One area the streaming giants have yet to explore is the concept of bonuses and loyalty programs. While retail and software providers have been using this tactic for some time, giving people free items and discounts to repeat customers, it’s never been fully utilized in streaming. At most, new viewers get a one-month free trial.

Bonuses could come in the form of additional content for those who sign up for specific time periods. This could be access to specific series, episodes, documentaries or exclusive movie access before the rest of the platform gets a title. An example of where this has worked well is in the iGaming industry and online casinos. As online gambling and sports betting opened up in new states, incentives were created to attract new customers. This includes cash bonuses and even free spins which would work like extra content. As an example, here’s more about the upcoming changes in Maryland, where they’re happening right now.

Revitalize real estate

The industry has been doing this for some time, and there are arguments for and against. To many, it seems that the Marvel and Star Wars movies’ barrel has really been scraped off the barrel along with other properties like Transformers. That said, there are still plenty of unique, exciting older shows and films to bring back to life.

Examples of this can be found everywhere, but a great attempt was the recent reboot of the Masters of the Universe franchise. A cartoon for younger audiences and animation for adults have been released, and a theatrical film is in the works. This covers the entire age range from parents who loved the original to hardcore fandom to the casual market.

On the other hand, the funds for the revitalization of old properties prevent the realization of new ideas. This churning up of old ideas is a safety net for companies, knowing that people will come to see properties based on name and nostalgia alone. Very often this drains money away from new ideas.

diversify

The ultimate solution is for studios and streaming operators to diversify into other areas. For streaming and production, the most obvious move is to get into gaming. Netflix has already begun taking steps in this direction by buying up small development studios. Warner Brothers also has a large games division. However, this costs a lot of money.

A safer way is to license real estate, which is often already done. Not all games are huge blockbusters. Some are developed by small studios for casual markets and can prove lucrative not only financially but also in terms of increasing brand awareness.

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