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Entertainment Industry can Propel the Metaverse for New Audiences
For decades, the entertainment industry experimenting with new ideas and showing people what is possible through technology. Films like Star Wars, Star Trek, etc., are some examples of great storytelling using technology. Storytelling is not the only trope that the entertainment industry excels in. Entertainment brands are continuously evolving to provide exceptional services to consumers.
For instance, platforms such as Netflix, Disney Plus, Amazon Prime, etc., have changed consumers’ content consumption. A century ago, it was the radio, and now it is the internet. With new developments in the internet, new technologies such as the metaverse are on the brink of revolutionizing the world through virtual reality. Thus, there is no surprise that the entertainment industry is interested in the metaverse. We will examine four key ways entertainment brands can leverage the metaverse for a new audience.
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4 Key Ways Entertainment Brands can Leverage New Audiences:
Today’s entertainment brands are legacies of their predecessors, meaning they follow the same path of immersive storytelling to engage with consumers. However, with rising of the technology-centric era, the entertainment industry is using innovative technologies to tell stories. Entertainment brands can use the metaverse to connect with their consumers directly.
Earlier immersive storytelling was limited to retail and theme park, but now the audience can interact with a character with virtual and augmented reality (AR\VR). Therefore, the metaverse helps to form deeper connections and engagement with customers. For instance, Verizon partnered up with Disney, Google, and Snap to develop AR lenses that allowed fans to interact with the iconic characters of the Avengers.
After the storytelling, character integration is essential. Character integrations are the best way to leverage sponsorships for production and more consumer engagement. Fans who adore their favorite character or celebrity will love to meet them as they are unlikely in real life.
However, with the metaverse, fans can meet their idols over the bridge of the digital world. Verizon is trying to reduce the gap between fans and celebrities through their new creation AR Pro Interactive Application. Verizon leverages sports sponsorships, which allow fans to meet athletes and learn about their signature moves. Sure, it will make fans go crazy as they can watch and experience awesome signature moves.
Events and concerts help to unify the fans in one place, which creates buzz and provides a lifetime experience for fans. Moreover, adding technology to this mix can further enhance the experience for fans. A live event in the metaverse can transport users to a virtual event that they may not be able to attend in real life.
The metaverse today is used for gaming, but in the future, it will be used for all sorts of things such as work, play, movies, and socializing. For the entertainment industry, the most significant opportunity will be live concerts. For instance, Travis Scott’s Astronomical Fortnite event gathered around 12.3 million people in one night, which is impossible in real life.
As we mentioned earlier, the metaverse is primarily used for gaming. Gamification is a method that can help to create long-lasting relations with the audience. With new metaverse technologies on board, brands can motivate consumers with new participation proposals and increase their engagement time.
The gaming universes like Roblox, Decentraland, Axie Infinity, Fortnite, The Sandbox, Epic Games, etc., provide a first-class engaging experience for players. Many industries across the globe are investing in play-to-earn models to increase player engagements and pave the way for immersive games.
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The entertainment industry is quick to adopt new technology and use it in the best way possible. The scope of the metaverse is increasing, and it is time for it to propel toward the entertainment industry. Entertainment brands can use it for immersive storytelling and character interaction. What does a fan genuinely want? To see their idol performing in front of them.
However, not everyone is privileged to meet their idol. But with the metaverse, fans can meet their icons and see them perform at virtual events. The entertainment industry is carrying the right decision for its consumers by adopting metaverse technology. Other businesses should learn from the entertainment industry and embrace the metaverse.