Senior Vice President of Strategy & Analytics Michael Fein, Group Director of Multicultural PR & Communications Marissa Wallace, SVP of Music & Entertainment Partnerships Michael Dunn, and Vice President of Consumer Brands Meg Grogan Discuss Consumer Trends Across Entertainment and Culture
On Wednesday, December 9, a collection of R&CPMK senior executives from across the organization joined the Brand Innovators “Music, Audio, and Podcasts” conference to discuss current and future trends in entertainment, culture, and beyond.
R&CPMK Senior Vice President of Strategy & Analytics Michael Fein moderated a lively discussion with three of his esteemed colleagues in a session aptly titled “The Way We Listen & Watch.” Marissa Wallace, Group Director of Multicultural PR & Communications, Michael Dunn, Senior Vice President of Music & Entertainment Partnerships, and Meg Grogan, Vice President of Consumer Brands, participated in the panel and provided keen insights and analysis on the current state of the entertainment industry, shifting consumption habits of consumers, the importance of connecting with multicultural consumers, and what trends to look for in the year ahead.
The 60-minute session highlighted R&CPMK’s overarching expertise across the media, technology and entertainment industry, and showcased how R&CPMK has effectively adapted its business practices over the past year to help guide clients, and prepare both them and the industry for the road ahead.
Following are highlights from the session:
Fein on the growing trend of geographic empowerment, and how it is changing content consumption habits: “One major trend that we’ve seen this year is the growth of a new target audience of people who are geographically empowered. Not everyone in society has this luxury, but many have been able to shift their schedules to work from home or work remotely. That geographic empowerment has had a strong impact in many different ways – one of which is via content consumption patterns. Not only are the times of the day shifting when people are consuming content – now it’s more fluid throughout the day – but the specific type of content we are consuming is changing as well.”
Wallace on the importance of appealing to a multicultural consumer base as brands try to create viral and memorable moments: “One major trend that we’ve seen this year is the growth of a new target audience of people who are geographically empowered. Not everyone in society has this luxury, but many have been able to shift their schedules to work from home or work remotely. That geographic empowerment has had a strong impact in many different ways – one of which is via content consumption patterns. Not only are the times of the day shifting when people are consuming content – now it’s more fluid throughout the day – but the specific type of content we are consuming is changing as well.”
Meg Grogan on the new role of brands in creating innovative content:
“One of the best things to come out of 2020 is that we have a higher standard for what will drive engagement with consumers. Whether that is innovative content, interesting mediums, or being more mindful of the important social justice issues that our content – or the people we are creating content with – are touching. Brands now have a bigger role to play in partnerships, and in producing content that is more innovative and appealing to the consumer.”
Michael Dunn on the impact of social media and digital experiences on the music industry:
“People are getting their music from different places now, especially younger consumers, and social media is driving that. We’re seeing it with danceable songs. The world has changed there. Social media has allowed the artist to connect with the audience in a much different way. Obviously everyone knows about the huge success of Travis Scott’s virtual concert, and I think we’re going to see a lot more of that going forward.
It’s not just about releasing an album and touring anymore, and artists are smart enough to understand that. They’re looking for ways to stay relevant, whether that’s reaching people through a Happy Meal or a song on TikTok that people get excited about and want to dance to. “
To watch the full panel discussion, click here.
— R&CPMK —
