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TikTok, Hollywood, and the Black Swan

by | Apr 30, 2020 | Discoveries

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What were you doing in February? It seems like a lifetime ago.

I was facilitating a daylong Strategy Camp with a dozen purpose-driven leaders. A highlight was the all-camp case study. We came together to discover what differentiates Hollywood. It was the perfect topic to explore. According to Variety, 23.6 million viewers tuned in to the 2020 Oscars ceremony, their smallest audience ever.

We defined Hollywood’s competitive set with streaming services and apps like TikTok. This video-sharing app inspired us to consider new options for creating, sharing, and telling stories. We discussed the true draw of the movie-going experience, the role of the actor, and the exclusivity that defined the Oscars. We discovered a small handful of genuine “differentiators” and little confidence they created a one-of-a-kind offering.  

We adopted a customer mindset as we talked through numerous features and benefits to pinpoint Hollywood’s Differentiation Zone®. 

We asked ourselves, “What differentiates Hollywood today?” We concluded very little after all, and not enough to really matter. In fact, the lack of differentiation became a rallying cry that day. #WeAreHollywood denoted our antithesis.

Who knew how prescient we’d be that day? Fast forward to April 15th. The black swan event that is COVID-19 spells Hollywood’s continued decline

Kyle Buchanan of The New York Times says:

“Pivotal pieces of the film calendar—including the summer-blockbuster season and the year-end awards gauntlet—have been thrown into disarray, and in their absence the gulf between streaming media and the theatrical experience may only widen further.” 

Each of us is on the path of redefining differentiation today. The competitive landscape is awash in replacements and alternatives. 

Are you clear about your differentiators? Reach out if you’d like a quick review.

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