The world of entertainment continues to change at a dizzying pace. Amidst the global economic downturn, a push for intelligent technology, and increasingly particular consumer demands, we’ve seen this taken to a new level in 2023. But if you hang with SMITHHOUSE, you’ll never miss a beat. We’re not simply taking these changes in stride but helping define what they mean for the Entertainment PR industry. Here are six top trends and dynamics we’re seeing in the market today.
- The Rise of Consolidation (& the Demand for Smaller Agencies).
It’s no surprise that industries across the board are making budget cuts in today’s economy — and entertainment is no exception. While the demand is still there, the funds are not, causing more networks and brands to merge under one umbrella. And as they do, they’re taking inventory of their people and resources across every entity with increasing roles facing eliminations. As a result, they’re seeking more outside support to fill in the gaps, especially when it comes to PR and marketing.
But while keeping an eye on costs, brands are opting for more boutique PR firms with that expertise without the hefty price tag that big agencies do. They’re becoming more selective in choosing teams that can still provide the best-in-class service they need with a strategic, value-driven partner. In many cases, this also means a PR firm with in-house experience, experts who have been on the internal side of the company as executives or PR professionals to make the transition more seamless. The perks here are having a PR team that knows the politics and pain points inside the business to be more effective and efficient in their execution.
- The Death of Traditional Publications.
It’s no secret that digital has taken over. More personalized pitches and outreach result from the constant connectivity, social and streaming platforms, and influencer marketing, where increasingly more people are consuming their content.Unfortunately, the evolving media landscape is resulting in a shrinking pool of print and broadcast outlets. A major shift is happening to more specialized platforms, and it’s becoming ever-more competitive for the opportunities available. The moral of the story: putting forth the most compelling narrative is more critical than ever.
- The Importance of Personalized Storytelling.
This brings us to trend #3… the increasing importance of personalization and the art of storytelling. Today, content has to be pitch-perfect. PR teams have to understand how to bring the most value possible to a client’s message, as well as the journalist or press partner who would be sharing it.With budgets and ROI driving priorities, creativity is an invaluable currency. Tailoring pitches to media partners/influencers is essential to building trust and getting your message out while simultaneously achieving the same goal with your audience is what makes you stand out. Crafting an authentic story that resonates with your partners and your audiences and offers a more personalized experience makes them more willing to engage with and invest in you.
- The Lengthening of Lead Times.
Project lead times are creeping over their typical averages — way over. For the same reason that creativity is more important than ever, preparedness is too. With opportunities dwindling and the demand for more prominent publications and major talk shows skyrocketing, getting a head start is everything. In the past, what would have been around 6-8 weeks for a placement or opportunity is now taking months to a year. And in event management, where multiple publications and press outlets are part of the overall strategy, there’s even more lead time to consider. Never underestimate your timeline if you’re targeting the biggest and most coveted names in the publication game for your next story or event.
- The Need for Meaningful Partnerships.
Partnerships are paramount. Leveraging these loyal and trusting audiences is a wonderful way to expand your own. More entertainment brands are taking advantage of creating meaningful connections with companies or organizations outside of their industry in the areas that resonate with their followers and benefit their communities. We’re seeing TV shows and streaming services teaming up with non-profit organizations in health and wellness and tapping into lifestyle public relations to bring their messages into the homes and lives of more potential customers. The more purposeful and creative you can be in the people you support and who support you, the more opportunities you’ll create.
- The Change in Competitor Perception
PR is getting kinder. Putting down competitor services and tactics aren’t the way to make your brand stand out — they’re a great way to isolate yourself. Once again, with fierce competition, it’s more advantageous to have your direct competitors on your side. But it’s all about positioning. Using your competitors as a way to prove the impact you’re having is a great way to show, not tell. Brands and shows look at their counterparts to help them tell a larger story, leveraging their success to credit their own. But again, there’s a right way to do this to be effective, which is where proper media training and strategy from an expert will help.
- Staying Connected & Creative with an Entertainment PR Agency
Located in Los Angeles, New York City, and Miami, SMITHHOUSE is a boutique PR firm specializing in strategic and creative entertainment public relations. We’ve built a team of seasoned, cross-industry executives and experts in the entertainment world who collaboratively seek the latest trends and understand the challenges that brands face today. As the industry changes and the demands of consumers become more complex and inspired, we prioritize keeping you connected to the most recent and relevant information and people throughout our industry.
Contact our entertainment media relations experts today to learn more about the latest trends emerging this year and how our dynamic market is changing.