Do you know what is the Attention Economy?
Below is the SoundCloud track in which I explained what the attention economy is.
As there is abundant content available for everyone to watch, it’s even more harder to grab the attention of consumers.
When copies are super abundant, they become worthless.
When copies are super abundant, stuff which can’t be copied becomes scarce and valuable. (Kelly, 2008)
We can take a look at Youtuber’s example, there are over million of them. If their content is not entertaining us they will lose our attention or even subscription. Advertisement is another example, it’s companies duty to make it interesting and at the same time include valuable information. Otherwise it’s not worth the time.
Isn’t it relatable that nowadays if we get the option to choose between staying at home to watch Netflix or to go to a disco, we would rather stay at home. This is where our attention has shifted these days. Have you lately been to a local film selling store and hired a movie? Maybe not, because the media such as Netflix, HBO and Amazon has taken over our attention, as it’s easy and convenient to use it’s getting even more popular.
The films that end up in streaming library depends on it’s age and box office grosses
with higher grossing films more likely to be selected than lower grossing films (Hiller 2016).
These are Giant aggregators makes living by helping the audiences find what they love, it connects niche audiences with niche productions.
Consumer attention is scarce therefore the information delivered should entertaining, otherwise people won’t watch it.
Khan Sultana Nazish
Edge.org. (2017). BETTER THAN FREE | Edge.org. [online] Available at: https://www.edge.org/conversation/better-than-free [Accessed 11 Oct. 2017].
En.wikipedia.org. (2017). Attention economy. [online] Available at: https://en.wikipedia.org/wiki/Attention_economy [Accessed 11 Oct. 2017].
PHILIP, M. (2016). Requiem for the long tail: Towards a political economy of content aggregation and fragmentation. 3rd ed. [ebook] Duke University: Intellect Ltd Article, p.344. Available at: https://dukespace.lib.duke.edu/dspace/bitstream/handle/10161/13895/Requiem%20for%20the%20Long%20%20Tail.pdf?sequence=1 [Accessed 11 Oct. 2017].
4 thoughts on “The Attention economy”
Easy and convenience really are the important factors that media audiences concern nowadays. I would rather stay at home watching my Netflix and YouTube than going to a cinema or DVD store too. With the internet, it’s no doubt that people are becoming lazier. However, this “lazy” is improving the society, so… it may not be a bad thing.
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I agree, it’s actually helping them to discover more of what audiences prefer nowadays. This way they will be able to produce something entertaining.
I agree with your description of media aggregators and I’d want to add that from my own perspective; I trust them because of their excellent track record with previous bits of multimedia that became wildly successful and popular. I would sooner pay for Netflix and enjoy quality content, than scroll through YouTube for hours in search of one marginally entertaining video.
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