Lately there have been noticeable traces of a consumption pattern change in today’s society that catalyzes various trends in the overall approach of commercialisation and distribution of media.
This technical paper identifies whether metadata enriched content can be the key to effective target audience engagement and content monetization. The study of this topic will reveal if the implementation of a 2nd screen mobile application could be a novel solution for the media industry to meet the demands of the hedonic, digitalized trends that are currently affecting media consumption and consumer behaviour.
Through theoretical and empirical research this paper studies briefly the principals of metadata, the current changes in media, experiential value of products and the usage of 2nd screening.
The graphs included in this technical paper were composed in cooperation with Living Labs, the research division of iMinds, the world’s 4th best business accelerator, within a three months active testing phase of a 2nd screen application called Spott designed by Appiness.
The economy and its way to market its goods and services have been changing over the last decades. With the social transformation and the trend towards a pleasure and leisure oriented society, economic variations and new orientations have been established.
Lately there has been a significant shift towards more intentionally experiential marketing solutions away from its initially straight face-to-face approach. (Pine II und Gilmore 2014)
Customers seem to seek experience and value the act of buying a product as much or even more than the product itself.
True economics and pioneer businesses are responding to the new desires of their customers and start explicitly designing and promoting experiences around their product and/or service. (Pine II und Gilmore 1998)
Especially already emotional commercialized products/services are suited for this new marketing approach.
Alongside the changes in the consumer behaviour of its clients, the media industry is also undergoing rapid change along the entire value chain.
Propelled by its continuously rising consumer demand, digital technology and ubiquitous connectivity, trends are emerging at rapid speed around social media, mobile devices, cloud computing, real-time bidding, micro-transactions and programmatic buying.
These trends alter the way society access, consume, and pay for media. Thus creating endless consumer choices, from infinite device options to a choice of print vs. electronic, linear vs. on-demand, free vs. pay, own vs. rent, and transactional vs. subscription.
The associated business model changes in this regard are profound, given that digital technology empowers companies to reduce boundaries between the individual steps in the value chain: aggregators and content producers are pursuing direct-to-consumer opportunities, distributors are moving into content production, and hardware producers are offering integrated solutions—combining devices, operating systems, and content access on one platform. (Bruns, Burgess 2015) (Artz 2015)
Aim of this paper is thus to examine a new interactive solution for media players to engage their target audience according to the needs and demands of the hedonistic society according to the fast emerging trend of experience marketing and satisfy its own demand to monetize its content within a successful business model.
In general, the following key words are essential for a successful literate review search: experience marketing, consumer experience, viewer experience, 2nd screening, mobile application, consumer engagement, content monetization.