The television and film industry are the latest victims of the digital advertising war. This is due to the move of consumers to digital platforms and the current prolonged strike in Hollywood. Companies advertise on platforms where they will get the most traffic and interest, leading to sales.
Fewer people also watch regular TV and instead stream content on subscription entertainment such as Netflix. Consumers live on digital platforms and social media platforms such as Facebook, Twitter, YouTube, Instagram, and Google. Consumers check out products online an average of 5 times before making online purchases. 80% of people buy something online because they saw it mentioned, advertised, or discussed on social media first. This means these digital platforms are the new advertising and marketing big boys.
Alphabet, the parent company of Google and YouTube, and Meta, owners of Facebook and Instagram, are the winners of the digital advertising war. Adding these digital giants to your portfolio is an excellent way to diversify your portfolio. And don’t forget the streaming giant Netflix.