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Showing posts from April 17, 2022

Social Media & The Entertainment Industry : LJ8

       This week's readings were very intriguing because it's something I think about often. Social media has affected the entertainment industry in various ways. Streaming services are starting to ruin the "going out and seeing a movie" experience, with digital media driving "46% of movie box office revenue, despite making up just 14% of studio marketing budgets" (Malnar, 2020).  Likewise, music streaming services and traditional ways of promoting and showing music are being affected by social media. Record labels are already beginning to shift away from focusing on streaming services, saying "With an expanding number of partnerships including Facebook, Tiktok, and Snap, among others, social media is already a meaningful nine-figure revenue stream for us and is growing at a faster rate than subscription streaming (Ingham, 2020).       I believe there are pros and cons to this advancement. Before social media, famous people usually had c...