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News + Digital Trends LOLA RED News + Digital Trends 20 VOL. 33 PRESENTED WEEK OF MARCH 15, 2021 CHART OF THE WEEK Netflix Continues its Domination Netflix smashed records this week after receiving 35 Oscar nominations - an all-time record for any studio. Its original film “Mank” received 10 nominations, while Aaron Sorkin's "The Trial of the Chicago 7”, picked up six nominations. NEWS + While traditional movie studios were crippled by theatre DIGITAL closures, Netflix was able to take advantage and spent $19B on fresh video content. For reference, Netflix spent a casual TRENDS $2.4B in 2013 when it originally entered into the original-content business with “House of Cards” back in 2013. Producing nominated-worthy content is nothing new for Netflix, but it may have more importance than ever. The streaming audience growth during the pandemic has been extreme, and now they are up against other big competitors (Disney+, HBO Max, Peacock … just to name a few) who are churning out their own exclusive content libraries. Source | Axios 2 NEWS + TWEET DIGITAL TRENDS OF THE WEEK READ THE WHOLE THREAD HERE. Shaan shares a unique POV on why Clubhouse may not be the future of marketing afterall. He details out an interesting theory including how the “Interesting-ness Problem” - when a user opens an app they need juicy content within 7 seconds or they bounce - may propel its decline. 3 CREATOR OF THE WEEK Former Facebook Employee Makes Waves on TikTok Alexa Shoen, a former content designer and product manager at Facebook, has found overnight success on TikTok. Shoen has quickly amassed 92,500 followers on TikTok by playing into the popular #JobTok Trend, where creators post career advice NEWS + to a primarily Gen-Z audience. Her videos often sit atop the search results when DIGITAL users search the JobTok hashtag in the app. TRENDS Her videos feature accessible career advice for people early into their careers, including topics such as "the difference between getting a job and getting into college" and "why nobody accepts your LinkedIn request." The videos gained traction quickly, with Shoen meeting the requirements to access the TikTok Creator Fund in her first week posting on the app, after accumulating 38,000 followers in her first seven days. Shoen told Business Insider that she was inspired in part as a refutation of the advice hanging over from the Boomer generation. She recalled a scene when she was 25 and had overheard a former boss complaining about a lack of "good entry level talent.” She wanted to set out to help change this point of view by helping to be part of building careers for entry-level talent. 4 Source // Business Insider FACEBOOK GOES AFTER SUBSTACK Newsletters are one of the hottest things in the digital landscape, and Facebook wants to be a part of that puzzle. In a direct aim against Substack, Facebook announced this week it will soon start testing its newsletter product, which will integrate with Pages and provide tools for journalists to NEWS + build websites. As part of that test, it will also court writers, DIGITAL some of whom the company will pay. TRENDS Axios first reported the news and didn’t reference any specific writers (they did note they will be small and independent) and says the product itself is still unnamed, and will be free to use. The important aspect that will help to set it apart from other newsletter services is that writers can rely on Facebook to engage their community with the option to publish content outside of text, like live videos and "Stories" status updates. Facebook will also let them create Groups for their work as well, and it will also provide metrics on their newsletters. 5 Source // The Verge FACEBOOK GOES AFTER SUBSTACK Facebook could have several advantages on this front. As the most used platform in the world, at 2.8 billion users, Facebook's potential reach is literally unmatched. It also has the uncanny ability to ensure that more people are able to access the content via its platform. However, it will be NEWS + interesting to see what writers flock to the platform as DIGITAL Facebook has been under a microscope from other political TRENDS parties for the way it moderates its platform. Lola Red POV: It’s no surprise this is Facebook’s next move, after the pandemic has prompted many high-profile journalists to leave newsroom to launch their own newsletters. Substack, most notably, has paid large advances to writers in order to lure them over to its platform. Twitter also threw its hat into the ring last January by acquiring Revue, with most experts nodding to the fact it was a move to keep their writers engaged on the platform. Long story short: 2021 is a writer’s world and we’re all just living in it. ;) 6 Source // The Verge INFLUENCERS JOIN THE NFT MONEY MAKING WORLD NFTS (Non-Fungible Tokens) have swept the crypto and digital art worlds over the past few weeks, and even started tapping into the celebrity + influencer world. These digital assets that are bought and sold through blockchains like Ethereum or Bitcoin. They can come in many forms such as digital art, video content, an outfit designed for a virtual avatar, or a NEWS + digital key used to access a file like an music album. DIGITAL TRENDS Like all blockchain-based technologies, they require a significant amount of energy to trade, but the payouts for some are too substantial to pass up. YouTube stars like Logan Paul (at right) and Zach "ZHC" Hsieh, and celebrities like Halsey and Shawn Mendes (at right) have recently entered the NFT scene to launch lines of collectibles in digital form. “Of course influencers are showing up, there's a lot of money to be made,” said Kayvon Tehranian, the founder + CEO of the NFT auction platform Foundation. While many YouTube stars and celebs are newcomers to the crypto world, the monetary successes that can come from selling digital collectibles is drawing more attention to the category. Creators are perhaps hoping that NFTs will offer another way to interact directly with fans, and ultimately 7 sell art or merchandise in a new, highly profitable way. Source // Insider MUCK RACK: THE STATE OF JOURNALISM 2021 It’s the most wonderful time of the year! We’re Muck Rack fans through and through, and the PR software just released “The State of the Journalism 2021.” The annual report takes a look at survey responses from about 2,500 journalists on their reporting, social media habits, and preferences for working with PR in the year of COVID-19. Here are the major takeaways: ● The average journalist covers 3 or more beats NEWS + ● Only 6% of respondents said they didn’t cover anything related to COVID-19 DIGITAL TRENDS ● In 2021, 58% of journalists are optimistic about the journalism profession, which remains consistent with results from the previous three years ● The most credible sources for reporting: ○ Academic subject matter experts (86%) ○ CEOs (74%) ○ Company PR professionals (55%) ● The most valuable social network for reporting: ○ Twitter (76% -- down from 85% in 2020) ○ Facebook (38% -- 3% increase from 2020) ○ LinkedIn (23% -- consistent with 2020) ● The highest percentage of journalists want to use Twitter more (37%), followed by Linkedin (28%) 8 Source // Muck Rack MUCK RACK: THE STATE OF JOURNALISM 2021 ● 58% of journalists always or usually look at a company’s social media accounts ● 70% said a story is most shareable when the subject is connected to a trending story ● Journalists are as likely to respond to pitches as they were a year ago (56%) NEWS + ● Bad timing (25%) was the top-cited reason for not responding to a pitch, the first time it hasn’t been due to lack of DIGITAL personalization TRENDS ● Journalists still prefer to be pitched via email (94%), on a Monday (57%), and in the morning (68%) ● The majority of journalists receive 1 to 5 pitches per day (43%); 50% of journalists write 5+ stories per week ● The number of journalists who said none of their stories came from pitches fell from 28% last year to 19% this year. 61% of journalists run with a quarter of the stories, an increase from last year ● Pitches are preferred to be 100-200 words long (46%), and journalists pref to be followed up with once (52%) within 3-7 days of the initial pitch (50%) 9 Source // Muck Rack MUCK RACK: THE STATE OF JOURNALISM 2021 OUR KEY TAKEAWAYS ● Almost everyone reported about COVID-19 in some way. As the world’s population receives the vaccine in 2021, the largest public health crisis in our lifetimes will continue to remain the focal point of reporting as society gets back on its feet. ● Although COVID-19 has accelerated layoffs in journalism, the steadyoptimism from reporters on the industry is promising (enter: more freelancing and NEWS + subscription-based platforms as a means of income). DIGITAL ● They like us (kind of!), they really like us! More journalists are running stories from pitches they receive, with less journalists completely ignoring pitches TRENDS ● It’s more important to be aware of current events -- with journalists citing bad timing as the top reason they don’t respond to a pitch, the events happening around us are affecting our abilities to do our jobs more than ever before. Also, you have to be able to tie your stories back to what’s trending in order to make them relevant. ● We say it’s 2021 a lot, but it’s 2021. You need good social! With more journalists checking a brand’s social media accounts, it’s important to have content up to date across channels to build credibility.
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