The knock on Hollywood is that it's been slow to adapt in the digital age. Fair or not, it's worth noting just how revolutionary the last decade has been for Tinseltown.
Movies -- even the blockbusters -- are now labeled a success or flop based on their opening weekend box office. DVDs, once a huge profit center for studios, have fallen off the map. Still, while consumers clearly love digital distribution, no single platform or model has emerged. In fact, industry insiders still debate whether streaming or downloads are the wave of the future. At the same time, marketing a movie through traditional media has only gotten more expensive because everyday it gets harder to break through the clutter.
Television is also at a crossroads. The networks have seen a steady decline in ratings, while cable channels have matured into household names. Shows that once had a season or more to find an audience now operate in a world where cancelation notices often fly after a few episodes. Only sports and news continue to attract live audiences, but many networks have found that their shows have a long tail on services like Netflix.
Yet for all the chaos, audiences are still passionate about great entertaining content. Social media can move the needle. Good buzz on Facebook can push a movie's campaign over the top and drive box office. Television viewers use Twitter and the new wave of social TV apps to redefine the viewing experience. Entertainment brands are increasingly turning to these channels to engage directly with consumers, but simply having a dedicated Facebook or Twitter presence is now par for the course. Going above and beyond with social is a key ingredient to marketing entertainment -- something these brands do especially well.
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1 How fraud is disrupting the ad industry
2 9 Facebook hacks that will blow your mind
3 The most meaningless (and hilarious) job titles on LinkedIn
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5 6 people on LinkedIn you should follow