Mind-blowing day at The MMIX Summit this week. MMIX short for The Mobile Multimedia Innovation eXperience is the official media & entertainment event at Mobile World Congress 2016, the biggest mobile event on the planet. Run by the GSMA in partnership with Momentum Worldwide.
MMIX brings mobile and entertainment players together in a series of high-profile sessions, keynotes and panel discussions analysing the phenomenal impact of video, film, TV, music, media and games on the mobile sector.
Chairing the day, Tom de Groeve, fromPWC Strategy&, a member of the PwC network, and its European Media & Entertainment practice painted a picture of Mobile World Congress back in 2007.
Film actor, director and Sundance Institute Founder & President Robert Redford headlined the event in 2007 to talk about the potential of mobile for film and video. Redford was promoting mobile ‘as a medium for independent filmmakers to reach new audiences on a global basis.’ And 9 years later we have seen this become a reality.
“YouTube has over a billion users — almost one-third of all people on the Internet — and every day people watch hundreds of millions of hours on YouTube and generate billions of views.” – Youtube
Mobile video remains a huge growth area and has been a focus across the talks at Mobile World Congress this year.
First speaker up was Mark Mulligan, Managing Director of MIDiA Research, an analysis and data company focused on the interaction of media and technology. Mark gave fantastic insight into consumer behaviors and how content strategies needs to evolve to meet the demands of the distributed audience.
I found the analysis Mark provided fascinating and probably need some time to process all that I’ve heard. Some of the highlights:
Audiences have changed. There has been a massive growth in the ability to understand who our audiences are. Younger audiences are becoming far more important. Youtube growth coming from very young audiences (below teenagers).
Talent has changed. Vloggers/ Youtubers = DIY movement of this generation. Reach more than they would from TV.
Netflix don’t have to worry about a broadcast schedule or length of content like TV programmes. Gives them more creative freedom.
Business models are changing e.g. buzzfeed – cross channels optimising for each. Content company in the modern era.
In the old world of media you worked in with the idea that you build it and they would come. Now you have to go where your audience is.
What is your popcorn?
One of my favourite stories shared at the congress was from Mark on the impact of popcorn on cinema. From start cinemas had been operating as a loss making business. The film industry needed them to succeed so they could keep making movies. They tried to innovate with things like screening double bills, adding sound and then colour. But remained not able to make a profit. Then popcorn was introduced. With a 95% margin selling popcorn saw cinema suddenly become highly profitable. This then helped establish a culture of film, which has seen the cinema and film industry grow into a very profitable business. Mark challenged us all to think of what our popcorn is.
Next up was a keynote from Netflix. More on what i learnt from that to follow 🙂