The Medium identifies essential signals on how technology is shaping the business of culture, and how the marketplace is evolving in response.
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Anyone listening to recent earnings calls with Meta and Netflix would conclude that the business of culture is the business of engagement.
Netflix Co-CEO Ted Sarandos recently told investors “what we're trying to do is entertain the world”—over 302 million members—and so engagement is measured by “people pushing play and sticking around for the things that they love”.
Meta’s messaging around its 3.43 billion daily active people is more complex. It told investors that the two “primary factors” driving its revenue performance are: Its “ability to deliver engaging experiences” for the Meta community and its effectiveness at monetizing that engagement over time.
The core message: In an emerging world of more direct-to-consumer (DTC) business models and artificial intelligence (AI) tools, culture will be dictated by engagement alone.
But, not just any engagement: Gaming specifically.
Engagement = Gaming
Gaming is a common theme in both Netflix’s and Meta’s growth stories for investors.
