Social platforms are becoming a dominant force in media and entertainment.
The report highlights that social video platforms offer diverse free content optimized for engagement and advertising, attracting a significant share of advertising spend in the US. The streaming video revolution has fragmented the pay-TV audience and increased costs for studios working directly with consumers. Social platforms and content creators, along with recommendation and advertising models, may become the new center of gravity for media and entertainment. Media and entertainment companies compete for the six hours of daily time users spend on media and entertainment.