Streaming, Sharing, Stealing audiobook cover - Big Data and the Future of Entertainment

Streaming, Sharing, Stealing

Big Data and the Future of Entertainment

Michael D. Smith and Rahul Telang

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Categories:
Technology & the FutureEconomics

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Streaming, Sharing, Stealing
Disruption of Entertainment+
Benefits of New Technology+
Capitalizing on Innovation+
Fall of Traditional Monopolies+
Power of Niche Markets+
Data-Driven Decision Making+
Threat and Prevention of Piracy+

Quiz — Test Your Understanding

Question 1 of 8
Why did Kodak ultimately fail to dominate the digital photography market despite developing the technology early on?
  • A. They lacked the financial capital to mass-produce digital cameras and compete with tech startups.
  • B. They were afraid that introducing digital photography would cannibalize their highly successful analog film business.
  • C. Their early digital technology was vastly inferior to the products being developed by their competitors.
  • D. They believed the digital trend was merely a niche fad that would not appeal to everyday consumers.
Question 2 of 8
How did Netflix's approach to acquiring 'House of Cards' fundamentally differ from the traditional television network model?
  • A. They ordered two full seasons based entirely on user data analytics without ever seeing a pilot episode.
  • B. They required the creators to split the series into shorter, 30-minute slots to maximize viewer retention.
  • C. They relied heavily on focus groups and traditional surveys to determine the show's potential success.
  • D. They funded the show's production primarily through targeted, data-driven advertising revenue.
Question 3 of 8
According to the text, how does the absence of advertising on streaming platforms like Netflix directly benefit content creators?
  • A. It allows them to bypass strict union regulations and hire less expensive actors.
  • B. It gives them greater creative liberty to include risky or controversial content without fear of losing ad revenue.
  • C. It forces them to rely on creative product placement to fund their high-budget productions.
  • D. It requires them to produce shorter, more concise episodes to keep binge-watchers engaged.
Question 4 of 8
Why did major music companies miss out on the early success of rock 'n' roll in the 1950s?
  • A. They lacked the manufacturing technology to mass-produce the new style of vinyl records.
  • B. They viewed the genre as a temporary fad for teenagers who did not have much purchasing power.
  • C. They were consistently outbid by independent labels that had amassed more financial capital.
  • D. They were legally prevented from securing airtime for rock 'n' roll on major radio stations.
Question 5 of 8
Before the rise of the internet, how did leading music labels maintain tight control over the distribution of music?
  • A. By investing heavily in early data analytics to perfectly predict consumer trends.
  • B. By ensuring maximum visibility for their artists through payments and perks to physical stores with limited shelf space.
  • C. By offering exclusive digital downloads directly to prominent radio station executives.
  • D. By producing their own record players and refusing to sell them in independent stores.
Question 6 of 8
What did researchers discover about consumer habits when analyzing data from a video rental chain's physical and online stores?
  • A. Consumers rented popular blockbusters almost exclusively, regardless of whether they shopped online or in-store.
  • B. Online customers were less likely to rent unconventional titles because they couldn't physically browse the boxes.
  • C. When consumers shifted from a limited physical store to an online store, they became more likely to rent unconventional or obscure titles.
  • D. Physical stores actually offered a wider variety of successful niche titles than the online platform.
Question 7 of 8
How did Netflix utilize big data to enhance the marketing campaign for 'House of Cards'?
  • A. By sending personalized merchandise to consumers who had previously cancelled their subscriptions.
  • B. By creating different trailers tailored to specific viewer preferences, such as highlighting Kevin Spacey or David Fincher.
  • C. By partnering with Shazam to create a highly targeted, data-driven soundtrack for the series.
  • D. By releasing the show one episode at a time based on when users were most active on social media.
Question 8 of 8
What was the primary effect of the 2009 anti-piracy law passed in France, according to the authors' study?
  • A. It led to a massive decline in the production quality of French cinema due to strict regulations.
  • B. It caused a 20 to 25 percent increase in legitimate iTunes sales by making piracy legally riskier.
  • C. It forced major music labels to lower the price of digital downloads to successfully compete with pirates.
  • D. It proved completely ineffective because consumers simply switched to physical media consumption.

Streaming, Sharing, Stealing — Full Chapter Overview

Streaming, Sharing, Stealing Summary & Overview

Streaming, Sharing, Stealing (2016) is about the ever-changing entertainment industry. Recent years have seen the emergence of new players who continue to utilize technology to transform the landscape. This book assesses how companies like Apple, Netflix and Amazon use data to understand their consumers’ needs.

Who Should Listen to Streaming, Sharing, Stealing?

  • Publishers and policy makers
  • Technology enthusiasts interested in big data and analytics
  • Media, film and music students

About the Author: Michael D. Smith and Rahul Telang

Michael D. Smith and Rahul Telang are professors at the Tepper School of Business and Carnegie Mellon University, where they co-direct the Initiative for Digital Entertainment Analytics. Over the course of their careers, they’ve been interviewed by Forbes, NPR and Fortune, and have featured on Talks at Google.

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