Multimedia Media Industry
The multimedia industry comprises mass virtual and audio media like newspapers, television, radio in the offline sector and YouTube channels, vlogs, music albums, tv shows, movies, etc in the online sector.
This is the most utilised way of entertainment and has the highest number of viewers. The multimedia industry is always trying to come up with something new to keep the audience engaged. There are many public icons and figures involved in this industry.
Multimedia is a part of life for most people. Taking in content like news, tv shows, movies, entertainment shows, educational shows, and the list goes on. The point here is, everyone is on a multimedia device in their day-to-day routine for their daily need of entertainment intake or information.
The top 10 multimedia companies in terms of revenue are:
1. Alphabet – the holding company for Google. And as Google has the highest traffic, Alphabet is on the top with 59.62 billion in its media revenue.
2..The Walt Disney Company – all about movies, tv shows, and their best product Disney Channel. They have 22.45 billion in media revenue.
3.Comcast – their 88% media revenue comes from NBC Universal Cable networks and broadcast tv divisions. They have over 15 national cable channels in the cable division. They have generated a median revenue of 19.72 billion.
4. 21st Century Fox – Owns fox sports television companies, plus STAR India and has a 39% stake in British broadcasting company Sky. it’s made over 18.67 billion in media revenue.
5. Facebook – Facebook’s primary media reach when it started embracing mobile technology, which resulted in a 63% growth. Now Facebook has made over 11.49 billion in media revenue.
6. Bertelsmann – The TV and radio group called RTL is owned by Bertelsmann. They also own publishing houses like Random House and Penguin, magazine companies called Gurner+Jahar, and a few marketing companies. They made around 10.04 billion in media revenue.
7. Viacom – Viacom is running 250+ TV channels worldwide. They also run channels like MTV and Comedy Central
8. CBS Corporation – Generated earnings from TV channels and Radio. They are home to hits like NCIS and Big Bang Theory. They had 9.61 billion in earnings from media revenue.
9. Baidu – Chinese language search engine. Offers maps, social networking, security, entertainment, e-commerce, and mobile services. Advertisements make 96% of revenue. Making over 7.9 billion in media revenue.
10. News Corp – They own Wall street journal and New York Post in The US and The Times and the Sun in the UK. Gaining a media revenue of 6.86 billion.
The multimedia industry comprises a lot of sub multimedia industries, some of them are :
- Television – This is the most used form of multimedia device used by viewers. On average, an Indian watches over 3 hours 55 minutes of television every day. This makes television a perfect place to gain the interest of viewers. On television, we watch tv shows, entertainment shows, movies, educational shows, etc.
- Print Media: This includes newspapers, banners, and basically anything printed. Newspapers are one of the major sectors in print media. Advertising in newspapers. Putting up banners alongside the major roads behind vehicles are some traditional methods of marketing. Magazines and books also come under this category. Magazines have a lot of content which makes it easy to promote a business/service there.
- Video/audio streaming websites: websites like YouTube, Netflix, Amazon Prime, etc have become a major part of our lives. Audiences can search for anything on YouTube. It has all kinds of videos, may it be entertainment or education. Websites and apps like SoundCloud, Spotify, Amazon music, apple music have come around recently started with the motive of a music-only platform.
As long as people seek entertainment, education or the need to watch just anything, there will be more revenue for the media industry. The media industry has become a major part of many people’s lives. The need for entertainment is present in every human being. Just that there’s a difference in the entertainment’s source of intake.
The Multimedia industry has helped many people gain fame and name on the online platform. Videos on YouTube, modeling on Instagram and uploading songs on SoundCloud and other music streaming websites. Artists throughout the world are on these platforms and they post their work online to get the maximum reach. The media platforms have made it easy for the artists and other public influencers to gain momentum, engagement and reach in a much easier and a faster way.
Digital marketing is a way of mass marketing via electronic devices like Mobile phones, Tablets, Laptops, Computers, Smart TVs, etc and these are connected to the Internet. This type of marketing happens through channels like social media, websites, email, search engines, etc. In this industry, marketing is being done mostly through the internet. Digital marketing helps in gaining a higher reach, more conversions, and creating brand awareness resulting in higher sales.
Digital marketing has become a new scope for many small sector businesses to make it into the big leagues. Many have succeeded as well. Digital marketing for any business or service sector is an advantage, as the audience reach increases.
Few components of digital marketing are Search Engine Optimisation, Social Media Marketing, Email marketing, Search engine and website advertising.
These components create an impact on your brand. Digital marketing is not possible without these.
Digital Marketing In Multimedia Industry
Digital marketing is an important aspect of the multimedia industry. In the past few years, the multimedia industry has taken marketing to a new level. All the news channels, Upcoming movies, T.V. shows, etc are being marketed online digitally. This attracts new and old customers to watch the specific content which is being marketed. This also gets the brand an enormous amount of engagement and traffic to their websites or application.
The audience is always hungry for new, exciting content. Delivering this to the targeted audience at the right time will gain the company a vast amount of visitors and revenue.
Marketing of Upcoming TV shows and movies to increase the excitement gets a massive amount of viewers, which gets the company a fat revenue. Similarly, News channels make specially designed posts and carousels for news. This helps the audience quick access to news, along with a lot of other information easily on their handheld smartphones.
Different brands have their separately set niches. Thus, specifically designed posts, ads and promotions are being run in order to target the right customer.
Advantages of Digital marketing in Multimedia
- All new releases, product launches, news, etc getting done, with a much greater impact, reaching out to the audience on a large scale gaining more traffic on their website and social media website.
- Social media is one of the best ways to give information to the online ecosystem. The number of people online is huge. We give this audience information about, for example, a documentary. This documentary would excite a certain group of people. This is our target audience. And this audience is where we make the maximum number of conversions.
- It takes much less effort and a good return on investment.
- Running ads on digital platforms costs less. For example, if a new movie is about to release. Running promotions and ads will cost economically very less online compared to traditional marketing. And obviously, get a good amount of reach and engagement.
- The digital marketing System also allows you to see real-time data of the number of people who have viewed the specific ad, post, or a promotion. This helps to see what is better for your audience.
How Does a Multimedia Company Use Digital Marketing
Most of the Multimedia companies use social media as their primary marketing channel. Running ads, promotions, regular posts and new content is the way to get traffic on a particular page, site or an application.
For example, if Netflix is coming up with a new show or a movie, they run ads on YouTube, promotions on Instagram, and Facebook. This way they create hype and curiosity in the consumers. This curiosity leads them to go to their website or the application to watch the specific content being marketed.
News channels like NDTV, India TV, Times Now and basically any news channel are available on social media platforms or they have their websites. These platforms give us real-time data. Top headlines, important announcements, and if there is any special occasion, posts on the topic made and uploaded by them on their social media platforms and articles on their websites, gaining them a lot of engagement.
The news websites, or any website for the matter of fact, can show ads. Small spaces are bid and bought for showcasing ads.
Digital marketing on YouTube is basically showing ads before the selected video. These ads, made by a few companies, get them big engagement and traffic because of the ads being targeted specifically, so you only see what interests you.
One of the biggest multimedia platforms is Google. Google is a search engine that people use to retrieve information on their interests. Google uses this data to show specific ads to specific people, so they are interested which gives a higher chance of a conversion. For example, searching for a fresh pair of shoes on google can lead to seeing that exact shoe-related ad on the search engine result page, and other visited websites.
Mobile applications like Facebook, Instagram, Pinterest, Twitter, Snapchat, etc are all social networking platforms. On these platforms, advertising can get a vast deal of traffic to your page, website or application. For example, Swiggy, an online food delivery portal runs promotions on social media which leads their consumers to go on their website and order food.
Why is Digital Marketing Necessary for Multimedia Industry
- To keep the audience informed and engaged on their specific piece of content which they have promoted on different platforms.
- Gain more audience for higher reach.
- It is cheaper than traditional marketing.
- Impact of Digital Marketing is big. Reaching out to thousands of people at once. The world is your market.
- Easy mobile access. Most of the people are always on their phones, losing out on this audience is losing out on a lot of opportunities.
- You can flexibly view the media anywhere.
- Easy to track and analyze data,
- Fast access to information through the help of websites and social media, because not everyone has access to a radio, newspaper or television at all times. But almost everyone has a smartphone at any point of time.
- Easy to adapt and scale.
All the media companies are going digital because all the audience is slowly shifting to the digital world. Now you can find magazines, radio, newspapers on a digital platform in a digitized format. This gives a lot of accessibility to the consumer because the consumer need not carry an extra load with them. Everything available on the fingertips.
Multimedia Companies and their Digital Marketing Examples
- Netflix – Netflix has a very engaging social media presence. The Instagram account has a lot of relatable memes, derived from the most popular shows or movies. Twitter content is basically a lot of conversations, mostly humorous. Polls and questions on Twitter being done for borderline engagement. It also offers personalised viewing content. Has call-to-action on every piece of content on their application
- YouTube – Not doing digital marketing for self, but a lot of different companies. These company’s post ads, which the audience sees either before or during the video. There are four types of YouTube ads.
Skip-able in-stream video ads
Non-skip-able in-stream video ads
- 20th-century fox – 20th-century fox believes in video digital marketing. For the movie Deadpool, the character did the marketing by making short one minute videos for a festive holiday, regional marketing, on social media and outside the box like collaborating with other funny humour based actors.
- Fox News – Main strategy here is the website, Updated news, announcements, and articles. On social media, frequent posts and articles, and they are simple and straight to the point. Giving brief information about a topic.
- Zee – Zee network is one of the biggest tv channel providers in India. The Zee network has started digital marketing recently. They have clips of the tv shows available on their social media platform. Festive posts, curiosity generating posts, best scenes, etc. they also have a business website. Along with this, they have a video streaming website called Zee5, which has content which runs on tv and also Zee5 exclusive content.
- Disney – Disney has a good digital marketing base and is well versed in the digital marketing ecosystem. They have top of the notch video marketing, regular and new content on social media, and a very well put up a website. Disney is doing this right.
- Radio Indigo 91.9 – Radio indigo is one of the best radio channels in India. This channel started digital marketing long back, primarily on social media. Now they have a website, they have an intriguing social media presence, and they have a constant engagement with their listeners. They even feature new artists.
Digital marketing has become a major part of not just the multimedia industry, but every industry and almost any business/service can get online and create a presence.
The need for getting online is nothing but gaining more traffic and revenue to your business/service, this helps in expanding your market, not limiting it to just a small area but the entire internet. The multimedia industry has a lot of potential and this industry never dies out, as there is something new coming up all the time and that is exactly what the audience wants.
The digital marketing aspect bridges the gap between customers and the company by having small pieces of content that act as a conversation.
Everyone has to go digital, some time and according to me the best time is now.
As they say, a business without marketing is a failed business.