Trend Watch: Entertainment Royality Rewards for Fan Engagement

Traditionally, content involvement has been a reward in itself. But in today’s highly competitive world with more entertainment options than ever before, viewers are beginning to need to be motivated to stick.

Sony’s PlayStation Star is the most prominent example of this change in thinking. The new free loyalty program rewards gamers for a variety of activities, from playing games at least once a month to performing specific tasks and winning online tournaments. ..

PlayStation Stars not only allows members to redeem points for items in the online PlayStation catalog, but also offers digital collectibles as a reward. These range from commonly found items to very rare collections, but Sony quickly emphasized that these items are not NFTs.

Plus icon

Related

Incentives for viewers via NFTs are already done in streaming, and you should be aware of some examples. Free streaming service ALTRD.TV employs NFTs, which provide utilities as a way to attract and boost viewers.

Launched later this year, ALTRD’s Watch to Earn model rewards viewers with cryptocurrencies for content viewing and engagement. Asked about the reason for this strategy, ALTRD.TV COO Shelly Madison told VIP +: “In traditional media, consumer-content relationships were completely unequal. We leveraged the destructive potential of blockchain to create fairness in that relationship and data-driven to our advertising partners. We are in a unique position to provide insights. “

Another company that follows a similar blueprint is Replay with Rewards TV service. It also stimulates viewers with cryptocurrencies (RPLAY, service-specific coins) that can be used to purchase content-related NFTs, unlock new content, and watch without ads. increase.

In addition, the Estonian movie “Free Money” is experimenting with different uses of NFTs, incorporating them into the movie via a QR code. Due to the limited supply of NFTs, viewers can view and re-view early to collect, which may increase the number of viewers.

Actively rewarding viewers, as represented by sports, goes against the current model of television. Viewer loyalty leads the sports league to increase the value of its rights and ultimately charge viewers more loyalty via pay-TV and streaming services.

However, traditional media may turn to the example here as a way to regain viewers, as things like TikTok and YouTube are seriously invading consumer viewing habits. Hmm. Similarly, large studios already trying out NFT ticket stubs will consider examples such as “free money” to increase theater participation and add a QR code on the weekend of the first release. It may be.

It will be a slow process to convince traditional media of the benefits that new technologies can provide. It’s always the case. But one network bites to revive a declining reputation in the end. And when that happens, expect the rewarding results to surprise other networks and streaming services, and more people will soon pile up.