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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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Streaming, Sharing, Stealing summary
Michael D. Smith
Rahul Telang
Big Data and the Future of Entertainment
17 mins
Brief summary
Streaming, Sharing, Stealing by Michael D. Smith and Rahul Telang explores the challenges and opportunities presented by digital media in the entertainment industry. It shows how companies can leverage technology to adapt and thrive in a rapidly evolving landscape.
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Streaming, Sharing, Stealing
Summary of 7 key ideas
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Key idea 1 of 7
Technology has changed the power dynamics of the entertainment industry.
A while ago, CDs were widely used to play music. Nowadays, you rarely see them, save for a small minority who collect them for nostalgic purposes.
What led to their demise? Big players in the music industry ignored the potential of digital music, which allowed companies such as Apple, Pandora and Spotify to emerge and kill off the CD.
In 2003, AT&T was the first company to attempt to introduce digital downloads with its division A2B Music. Its cofounders pitched the concept to top music executives but they were met with ridicule, as growing CD sales were creating so much revenue. A2B Music quickly dissolved, but in the early 2000s, companies like Apple began to flourish using the same technology.
Soon, digital music became popular, and CDs became irrelevant.
Encyclopedia Britannica suffered a similar fate. In 1985, Microsoft requested non-exclusive rights to the company so they could digitize the contents of its encyclopedias. Personal computers were growing in popularity at this time, but the print-based business wasn’t convinced. The repercussions of this decision would be felt in 1993; that year, Microsoft created a multimedia encyclopedia called Encarta, and sales of print encyclopedias plummeted by $110 million as a result.
A modern-day company which harnesses the power of technology, is Netflix. It uses data analytics to truly customize the user experience. Formerly, production companies created pilot episodes of new shows and aired them to network executives. If the pilot received a positive response, the network requested more episodes – if not, the show was rejected.
When the creators of House of Cards pitched their show to Netflix, the company ordered two seasons for $100 million without seeing the pilot. The Netflix team had thoroughly analyzed their user data and knew House of Cards would be a hit with their audience. The show’s creators were further incentivized to exclusively release both seasons on Netflix because, as a digital platform, it didn’t have the same airtime limitations as TV networks.
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What is Streaming, Sharing, Stealing about?
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.
Streaming, Sharing, Stealing Review
Streaming, Sharing, Stealing (2016) explores the impact of digital technology on the entertainment industry and uncovers the strategies and consequences of streaming services such as Netflix and Spotify. Here's why this book is worth reading:
- With in-depth research and insightful analysis, it provides a comprehensive understanding of the changing dynamics of the digital media landscape.
- By delving into the business models and disruptive innovations of streaming platforms, it reveals the challenges and opportunities for content creators and distributors.
- The book offers a fascinating behind-the-scenes perspective on the battles for content and control, keeping readers engaged and shedding light on the future of entertainment.
Best quote from Streaming, Sharing, Stealing
Facebook averages a thousand A/B tests every day.
—Michael D. Smith and Rahul Telang
Who should read Streaming, Sharing, Stealing?
- Publishers and policy makers
- Technology enthusiasts interested in big data and analytics
- Media, film and music students
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Streaming, Sharing, Stealing FAQs
What is the main message of Streaming, Sharing, Stealing?
The main message of Streaming, Sharing, Stealing is that the digital revolution has transformed the entertainment industry and how we consume media.
How long does it take to read Streaming, Sharing, Stealing?
The estimated reading time for Streaming, Sharing, Stealing is several hours. The Blinkist summary can be read in just 15 minutes.
Is Streaming, Sharing, Stealing a good book? Is it worth reading?
Streaming, Sharing, Stealing is worth reading as it offers insight into how the digital revolution has impacted the entertainment industry.
Who is the author of Streaming, Sharing, Stealing?
The authors of Streaming, Sharing, Stealing are Michael D. Smith and Rahul Telang.
What to read after Streaming, Sharing, Stealing?
If you're wondering what to read next after Streaming, Sharing, Stealing, here are some recommendations we suggest:
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