The power of social media in the world of video is just beginning to exert its influence. Twitter has garnered headlines for its impact on television, but data from Adobe and moviepilot.com shows social media’s impact is much broader than you might expect.
Variety published a piece last Friday written by Tobias Bauckhage, CEO of moviepilot.com. He discussed how the social buzz for the movie “I, Frankenstein” was not looking good. Mr. Bauckhage said that the movie had 178K Facebook likes, 9.9M views (of the trailer) on YouTube and 24.5K Tweets. He compared the performance of “I, Frankenstein” to “47 Ronin”, which generated 284K Likes, 19M YouTube views and 76K Tweets. “47 Ronin” was one of the biggest box office failures of 2013.
Mr. Bauckhage stopped short of forecasting “I, Frankenstein” would be a flop, but his assessment of the performance was right on. The movie did very poorly in its first weekend, generating just $8.3M while finishing a distant second to the comedy “Ride Along” (in its second week.) It seems that social media may be an extremely useful tool to gauge how effective marketing campaigns are for movies.
This put me in mind of something Jeremy Toeman, CEO of Dijit, told me last year. NextGuide, Dijit’s tool for discovering TV and movies, allows users to keep an eye on, or “watch”, anything that they might be interested in. Once a show is on the watch list, NextGuide emails the user when the video becomes available in a service that they subscribe to. Mr. Toeman told me people see a promo for a new show or movie, come to NextGuide and add it to their watch list.
Mr. Toeman told me he could predict which of the new fall shows would be successful or not just by looking at the watch list and reminder activity in NextGuide. The evidence from Mr. Bauckhage would seem to confirm that this is certainly possible.
New data from Adobe shows social media is becoming a much more effective marketing tool in general. In the company’s Q4 2013 Social Intelligence Report, we see engagement is growing with brands, shifting away from simple Likes. While comments and shares are up 40% year-over-year, Likes are down 6% (though they still account for 82% of social engagement.) Social engagement with brand posts is also up 180% over Q4 2012. All of this is good news for media companies, where a friend’s influence can have a huge impact on driving awareness for a show or movie.
Other metrics for social media also seem to be headed in the right direction. Revenue per visit (RPV,) which measures the amount of revenue referred to retail sites, was up across the board. Tumblr had the best performance, growing 340% over 2012, with Pinterest growing 244%, Twitter up 131% and Facebook increasing 72%. According to Adobe, Facebook click-through-rates (CTR) have increased 365% year-over-year, ad click volume is up 125%, and ad impressions volume up 10%.
Why it matters
While counting tweets can be a great way to gauge the success of a TV show, social media can be used much more broadly than that.
Moviepilot.com illustrates how social activity can predict the success of a movie.
Adobe data show social media is becoming a more effective marketing tool.