Facebook’s media and entertainment teams have helped millions of public figures and artists grow their audiences on Facebook and Instagram. on November 12, 2020, Facebook has published a Media and Entertainment Behavior Report known as “Facebook IQ Content, Consumption, and Culture: Perspectives From the Entertainment Industry.” the statistics are good and show the numbers of growth in users. this article will cover the IQ report and the views of Facebook Media Experts Shannon Snow, James M. Smith, Nick Callaghan, Louise Holmes, and Lizette Williams.
The content economy is changing. More time at home has led to a heightened demand for content and an expansion of fan bases.
Says Nick Callaghan, Head of Industry and Entertainment at Facebook) on social media when he shared the Facebook IQ Report link with the audience.
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Facebook IQ Media and Entertainment Behavior Report
When the COVID-19 pandemic begins almost all countries decided to lockdown, people lost their jobs, and daily wagers had a difficult time but this pandemic brought changes to people’s lives. Artists, public figures, musicians, and filmmakers positively used that period and started everything “remotely” from home during the pandemic. According to Facebook,
There will be approximately 289 million new over-the-top video streaming users in 2020, an increase of 24% year-over-year. And, as a result of the pandemic, 62% of the content video streaming viewers have watched on streaming services was new to them.
In its report, Facebook examined five consumer shifts that have affected the media and entertainment industries across the globe.
- Content Economy
- Communal Consumption
- Inclusive Diversity
- Proliferation of Choice
- Streaming Sustainability
- Rapid Reflections
But before starting and diving into the report it should be remembered that without these Facebook experts it was not possible. These experts have done tremendous work in their field by engaging with partners and clients, thus the result brought positive and significant growth in the audience during 2020.
Shannon Snow
Head of Industry for Entertainment in the US at Facebook
James M. Smith
Head of Industry for Entertainment in the US at Facebook
Nick Callaghan
Head of Industry for Entertainment in the UK at Facebook
Louise Holmes
Director of Entertainment Partnerships in Europe and Middle East Africa at Facebook
Lizette Williams
Head of Global Vertical Solutions Marketing at Facebook
(This article will share a few important points only, read the complete report by visiting this official Facebook link)
Facebook IQ Report Important Points
More time at home has led to heightened demand for content and an expansion of fan bases, according to Eric Peckham.
COVID-19 pushed people to consume a lot more, especially in March, April and early May 2020 in Western countries, when many people went into shelter-in-place. In every category except podcasting, content consumption soared.
- Users spent more than their usual monthly budget on streaming services during the COVID-19 pandemic.
This chart shows 42% in the US, 37% in Australia, 31% in the UK, and 31% users in Korea spent more than their monthly budget during the COVID-19 outbreak, which shows the significant growth during the pandemic.
- In a single month from April 17 to May 17, 2020, Spotify saw a 90% increase in the creation of painting-related playlists, a 120% increase in baking-related playlists, and a huge 430% increase in gardening-related playlists on Spotify.
- 65% of people agree that they would love to listen to new artists that are similar to the music they have been listening to for a long time.
- Facebook Groups of Film, TV Shows and Video Games were the fastest-growing groups in 2020
This chart shows the Top 5 Facebook group types in terms of growth in joints from January – June 2020
(This article will share a few important points only, read the complete report by visiting this official Facebook link)
Views from Facebook Media Experts
Nick Callaghan
According to the Head of Industry for Entertainment in the UK at Facebook,
Social media has become a very powerful channel for brands who are looking to bring a little bit of relief during the pandemic. A music label (Defected Records) in the UK has created a virtual dance music festival, including a 12 hour Facebook live stream, from an empty Ministry of Sound nightclub. The label reached over 6.5 million music fans during the pandemic.
Louise Holmes
According to EMEA’s Director of Entertainment Partnerships at Facebook,
We have seen a number of artists pivot toward digital platforms for entertainment and engage with their communities.This has allowed artists to transcend physical limitations and geographical boundaries and speak at scale to global audiences.
Shannon Snow
Head of Industry for Entertainment in the US at Facebook says,
During the COVID-19 pandemic the socializing has been a huge challenge for people, but they will definitely continue seeking connections with their families and friends. People will want innovative forms of engagement that can recreate the In Real Life connection and conversation as best as possible, thus social media is a clear space for this to happen.
James M. Smith
According to the Head of Industry for Entertainment in the US at Facebook,
During the pandemic we have seen people create completely different routines in their life and on social media, which is creating new opportunities to reach people where they are. They are engaging with brands in predominantly digital ways and all from their devices.
Lizette Williams
Head of Global Vertical Solutions Marketing at Facebook says,
People want diversity and representation across all media and entertainment and the BLM (Black Lives Matter movement) has created cultural shifts in what we expect to see in entertainment and media. We have seen people create different routines during the pandemic, many of them anchored in the digital sphere.
This article has few points but there are so many good statistics and views from the Facebook Media Experts which you can read by going to the official link of Facebook.
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