This is how Web3 will change media companies

TL;DR

• Before S3’s release of “Love, Death + Robots,” Netflix hid 9 QR codes in online videos, the show itself, and even on IRL billboards. If you scanned one, you have an NFT.

• This type of marketing works because it is shared through word of mouth, which is one of the most powerful forms of marketing.

• This kind of marketing is especially important for streaming platforms because giving viewers something they can’t get anywhere else helps them retain subscribers.

• Here’s where it could all go:

  • Netflix can notify you by saying you’re one of the top ten viewers of a show and award you with an NFT.

  • That NFT can unlock early viewing, sneak peaks, exclusive behind-the-scenes episodes, and invitations to meet-n-greets.

  • You can keep the NFT to use/show off – or sell to the highest bidder.

Full story

One of our dear readers recently received our ‘Help us write content that is relevant to you!research and asked:

“You guys are very light on the impact of Web3/Crypto on MEDIA companies. Waddup with that?”

1. Waddup with that indeed

2. Ask and you will receive

Turns out Candy Digital and Palm NFT Studio, the folks behind MLB, Netflix, and DC Comics’ Web3 experiences, just merged.

Ok, cool…but…’Web3 experience’ – what does that even mean?

Let’s look at an example from Netflix:

Around this time last year, the third season of “Love, Death + Robots” came out on Netflix – and with it came a scavenger hunt.

Netflix posted 9 QR codes hidden in online promo videos, the show itself, and even on IRL billboards.

Every time a viewer scanned one, they got an NFT. Very cool.

Here’s why this kind of marketing works:

Our all-time favorite marketing book is Contagious: Why Things Catch On. In it, the author explores all the different marketing tools available to us in today’s world.

Do you know which one is the most powerful? The age-old technique of: word of mouth.

We’d never had any interest in ‘Love, Death + Robots’ as a show, but for a few weeks in May last year, it was all we heard.

Chevy’s mom even mentioned it! (And they hate science fiction).

Here’s why this kind of marketing is more important than ever:

Streaming platforms are not ‘sticky’.

This means that we as consumers like to switch between the service that offers the best content, at the best price.

(We’re not loyal when it comes to streaming).

Which means wherever these platforms can get ahead, giving viewers something unique, something they can’t get anywhere else – business!

Here’s where it could all go:

This doesn’t just end with quests.

You know how Spotify Wrapped tells you things like “You were in the top 0.01% of Natalie Imbruglia listeners”? (No? Just us?).

Imagine applying that to film and television…

Netflix can notify you by saying you’re one of the top ten viewers of Married At First Sight (hell, again? Seriously? Just us?) and give you an NFT.

That NFT can unlock early viewing, sneak peaks, exclusive behind-the-scenes episodes, and invitations to meet-n-greets.

You can keep the NFT to use/show off – or sell to the highest bidder.

…can you imagine how much engagement such a reward system can inspire?

(And the more you collect, the less likely you are to cancel your subscription).

Very exciting.