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How big data is transforming the creative industries, and how those
industries can use lessons from Netflix, Amazon, and Apple to fight
back. "[The authors explain] gently yet firmly exactly how the
internet threatens established ways and what can and cannot be done
about it. Their book should be required for anyone who wishes to
believe that nothing much has changed." -The Wall Street Journal
"Packed with examples, from the nimble-footed who reacted quickly
to adapt their businesses, to laggards who lost empires."
-Financial Times Traditional network television programming has
always followed the same script: executives approve a pilot, order
a trial number of episodes, and broadcast them, expecting viewers
to watch a given show on their television sets at the same time
every week. But then came Netflix's House of Cards. Netflix gauged
the show's potential from data it had gathered about subscribers'
preferences, ordered two seasons without seeing a pilot, and
uploaded the first thirteen episodes all at once for viewers to
watch whenever they wanted on the devices of their choice. In this
book, Michael Smith and Rahul Telang, experts on entertainment
analytics, show how the success of House of Cards upended the film
and TV industries-and how companies like Amazon and Apple are
changing the rules in other entertainment industries, notably
publishing and music. We're living through a period of
unprecedented technological disruption in the entertainment
industries. Just about everything is affected: pricing, production,
distribution, piracy. Smith and Telang discuss niche products and
the long tail, product differentiation, price discrimination, and
incentives for users not to steal content. To survive and succeed,
businesses have to adapt rapidly and creatively. Smith and Telang
explain how. How can companies discover who their customers are,
what they want, and how much they are willing to pay for it? Data.
The entertainment industries, must learn to play a little
"moneyball." The bottom line: follow the data.
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