If you've been following the news out of Hollywood lately, you probably know about the current writers strike happening in Tinseltown. The studios and production houses have been hit hard, with some shows grinding to a halt and others scrambling to find ways to work around the strike. But what, if anything, does this mean for us marketers?
In this post, we'll explore how the writers strike can teach us about the future of marketing, and what we can do to prepare ourselves for it.
The creator problem
Firstly, let's look at the reasons why the writers decided to strike in the first place. One of the main issues here is the fight for fair compensation, with writers demanding that they are paid more for their work being featured on streaming platforms like Netflix, Hulu, Disney+ and Amazon Prime.
Valentina Garza, a producer and writer with a credit list that includes “Wednesday,” “Only Murders in the Building” and “Jane the Virgin,” recently took to social media to share a stark example of how streaming services pay low residual fees.
"In case anyone’s wondering why the WGA is on strike, this is my streaming residual check for two episodes of 'Jane the Virgin,'” she tweeted, sharing a photo of a check made out for three cents. “One for .01 another for .02. I think the streamers can do better.”
As marketers, we have a new responsibility: fairly compensating creators.
Working with creators should never be a transactional relationship. And the danger isn’t just legal. The authenticity of your content is enhanced when you ensure that the creatives behind it feel valued and rewarded for their efforts. Conversely, all your efforts can be destroyed if you treat your creators like cogs in the machine.
The content opportunity
The writers strike shows us the importance of constantly creating novel content. It also poses a unique opportunity for marketers. With some shows being put on hold, audiences are left with fewer choices of what to binge. As marketers, we have a chance to fill the gap.
Because, as legendary ad man Howard Gossage said, “people don’t read ads. They read what interests them. And sometimes it’s an ad.”
The writers strike also highlights the importance of diversifying content. With shows being put on hold, production houses are now looking at alternative sources of revenue such as merchandise and licensing deals. As marketers, we should learn from this and make sure we haven’t put all our content eggs in one basket. Professional production and user-generated production can work together to tell one brand story.
Finally, the Hollywood writers’ strike has shown that the way we consume content is constantly evolving, and companies need to make sure they evolve in the way they compensate their creators. With audiences now expecting authentic content on a regular basis, marketers need to be nimble and agile with their strategies. This means we should constantly be curating new creators and finding new ways to engage them.
What you can do
The current writers' strike in Hollywood may seem like a far-off issue for those of us in the marketing world, but the truth is that it has some significant implications for the future of marketing in the creator economy. By paying attention to what's happening in the entertainment industry, we can start think about our creators not as simply content, but as talent that can enhance our brand stories. From fair compensation to diversification and adaptability, there are important lessons to be learned here that can help us create content that resonates with our target audience while making sure the people who make it are doing so with smiles on their faces and brand love in their hearts.
Here's to a future where content creators are valued, content is diverse, and audiences are engaged.
