19November 2019Last October, YouTube users experienced a major global outage that lasted for more than an hour, triggering a material spike in Netflix subscriptions. While this may not seem like a big deal, but it is. Especially considering that in March, Nielsen reported that overall media use remained unchanged year-over-year. Time spent with media isn't increasing. Instead, consumers are shifting how and where they spend their finite amount of attention.Clearly, we've reached a saturation point as there's simply no longer any additional attention to give to media. This means the so-called "attention economy," the very thing many marketing strategies are based upon, has jumped the shark. Consumers are finding themselves in a continuous prioritization exercise that involves making on-the-spot media tradeoffs: What am I going to give up paying attention to in order to give my attention to something else?Savvy brands recognize this shift. For example, Netflix recently implied that its user base has to prioritize whether to binge on shows like season two of On My Block or instead play Fortnite Battle Royale. Yes, Netflix is acknowledging its biggest competitor isn't HBO­it's really Epic Games, the makers of Fortnite. Of course, with Disney, WarnerMedia, and Comcast all planning to launch their own streaming services chock-full of enticing original series, you can bet this will further exacerbate the issue.Across the media landscape, the effects of reaching the attention ceiling are evident. It explains why more and more people are taking extended breaks from social media, or why cord-cutting doubled last year, or how eSports fans barely watch television anymore. It's also why brands must move on from "attention" as the currency of their marketing strategies to something much more relevant. But what? The answer may lie in looking at the top emerging tech trends:Instant: Textless UIs including voice and image search, the promise of 5G speeds, practical uses of IoT and AI, as well as cashless transactions like NFC payments and social commerce are increasing consumers' impulse to take action, but also decreasing their patience and attention.Immersive: The growing maturity of experiential, sensory, and interactive media - including AR, By Mike Proulx, Chief Innovation Officer, Hill HollidayHow the Latest Tech Trends are Ushering in the "Devotion Economy."CXO INSIGHTS
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