Valuetainment - Episode 301 - Digital Media Trends Every Entrepreneur Needs to Know About

00:00:00.000 30 seconds, one time for the underdog, ignition sequence start, let me see you put them up,

00:00:08.980 reach the sky, turn the stars up above, cause it's one time for the underdog, one time for

00:00:16.040 the underdog.

00:00:17.260 I'm Patrick B.W., host of Value Team, and today we're going to talk about digital media trends

00:00:20.940 that you ought to pay attention to.

00:00:22.380 Let's start off with the biggest social media name everybody knows, Facebook, and what's

00:00:27.040 been happening with Facebook lately.

00:00:28.560 First of all, 74% of users on Facebook are women, think about that, while 62% are men.

00:00:35.280 So when they did a survey saying how many women or how many men are on Facebook, 74% of women

00:00:40.220 said, yes I do, 62% said, I'm on Facebook on a daily basis, right?

00:00:44.700 So that's interesting to know the demographic on who you're trying to market to and attract.

00:00:49.720 Age-wise, not much has changed, a little bit has changed in the last couple of years, 13

00:00:53.860 to 17-year-olds on Facebook, that's 3%, 18 to 24-year-olds, that's around.

00:00:58.560 17%, 25 to 34 is the biggest audience they have, 25% is between 25 to 34 years old.

00:01:08.060 Here's the kicker that you've got to look at.

00:01:10.460 54% of all of Facebook users are above 35 years old.

00:01:15.860 Let me say this one more time.

00:01:16.800 54% of all of Facebook users are above 35 years old.

00:01:21.420 What does this mean to you?

00:01:22.780 I want to give you a metaphor, an analogy that hopefully doesn't make sense to you.

00:01:26.420 Imagine if you're going to a party or a nightclub, okay?

00:01:30.020 There are some clubs that are 18 and over, parties that are 18 and over, right?

00:01:33.760 Some that are 21 and over.

00:01:35.380 Some you go to, they're like executives, some you go to, they're 30, some 40, 50.

00:01:38.940 See, if you go to the club of Facebook, it's going to be people above 35 years old, which

00:01:43.720 means they're going to be listening to 80s music, maybe old school, hip-hop, that kind

00:01:47.680 of stuff.

00:01:48.280 That's the audience there.

00:01:49.520 Then you continue 35 to 44, 18%, 45 to 54, 15%, 55, 64, 12%, 65 and up 9%.

00:02:00.400 You know what it tells you?

00:02:01.220 21% of Facebook users are above 55 years old.

00:02:04.460 So that's a big number.

00:02:05.880 So imagine if you're a market or demographic or wanting to find that 55 year old.

00:02:10.260 Facebook is still a great, the best market for you to find 55 plus year olds on the needs

00:02:16.140 that they may have, whatever product you're selling.

00:02:18.340 Now here's a couple of things that's taking place globally with Facebook users, globally.

00:02:23.080 You'll kind of see where it's growing really fast and where it's flat.

00:02:26.660 This is Q3 quarter, Q3 users logging in 2012 versus Q3 2018.

00:02:34.800 Six years.

00:02:35.840 Let's see what happened.

00:02:36.720 U.S. Canada, Q3 2012, 189 million.

00:02:40.740 Q3 2018, 242 million.

00:02:43.380 The increase, maybe 53 million people.

00:02:45.880 That's not a big increase.

00:02:47.080 That's actually flat, right?

00:02:48.340 Europe, 253 million.

00:02:50.600 Today, 375 million.

00:02:52.600 Good increase.

00:02:53.900 Bigger than U.S. and Canada, but still not a big increase.

00:02:56.460 It's a 120 million increase.

00:02:57.660 Look at the rest of the world.

00:02:59.340 288 million to 736 million.

00:03:02.220 Massive increase.

00:03:03.320 But nothing is close to AIPAC, which is Asia Pacific.

00:03:06.860 277 million to 917 million.

00:03:10.660 That's more than 3x on what's happening on AIPAC.

00:03:14.340 So Facebook, just like you being a business owner, entrepreneur, is sitting there saying,

00:03:20.020 what is our capacity in U.S. Canada?

00:03:22.340 What is our capacity in Europe?

00:03:24.080 What's growing?

00:03:25.200 And they're starting to realize where AIPAC is.

00:03:27.240 We'll talk a little bit more about AIPAC here in a minute.

00:03:29.680 When we go to some other data, you'll be blown away on what's taking place here.

00:03:32.560 So that's some of the stuff with Facebook.

00:03:34.480 Now, one of the things that took place that's been changing lately is for the longest time,

00:03:40.900 you and I would log on to Facebook more than any other website.

00:03:44.860 Facebook was number one.

00:03:45.780 So you would ask, hey, which of these websites do you log on to on a daily basis?

00:03:49.700 People would say, number one is Facebook, but it's changed.

00:03:52.120 Number one today is officially YouTube.

00:03:54.460 73% of users say, every day I log on to YouTube.

00:03:58.480 Think about it for yourself.

00:03:59.480 What percentage are you?

00:04:00.760 73% say, I'm always on YouTube.

00:04:03.320 68% Facebook.

00:04:05.360 35% Instagram.

00:04:07.400 Instagram's come up tremendously.

00:04:10.500 And then you have Pinterest.

00:04:11.380 A lot of us don't pay attention to Pinterest.

00:04:12.900 Pinterest, 29%.

00:04:14.020 Snapchat is still up there, 27%.

00:04:16.800 LinkedIn, 25%.

00:04:18.680 I still see LinkedIn having the biggest...

00:04:22.320 I see LinkedIn for entrepreneurs and business people being a massive vertical to pay attention to.

00:04:28.220 25%.

00:04:28.740 Twitter is 24%.

00:04:30.040 WhatsApp is 22%.

00:04:32.000 Twitter, believe it or not, 24%.

00:04:33.520 So those are the numbers on what's taking place.

00:04:35.900 So now, let's look at stories.

00:04:37.940 You know, a lot of people are like, well, you know, I don't know if I really want to do Snapchat stories or Instagram stories,

00:04:42.700 or I don't know if I want to do Instagram stories.

00:04:44.860 It doesn't seem like it's going to be that crazy.

00:04:46.620 Look at the numbers.

00:04:47.420 400 million stories are sent every day on Instagram.

00:04:50.960 400 million every day.

00:04:52.540 Number two is Snap at 186 million.

00:04:55.740 Snap came out with stories.

00:04:57.020 Now, Instagram does more stories than Snap does.

00:04:59.600 186.

00:05:00.180 Facebook.

00:05:01.100 Facebook stories, most of us don't use it.

00:05:03.280 It's still 150 million stories on a daily basis.

00:05:06.780 Facebook Messenger, 70 million.

00:05:09.060 And Facebook is trying to combine Messenger stories, Instagram, WhatsApp, all of it under the same platform, which that's going to make it very, very...

00:05:18.740 The amount of power Facebook's going to be able to have.

00:05:20.980 I know they're dealing with a lot of their security and all these other stuff that they're dealing with.

00:05:24.900 They're going to continue facing.

00:05:26.260 There's going to be a lot of scrutiny they're going to face.

00:05:28.340 But Facebook is still the juggernaut.

00:05:30.400 And Mark Zuckerberg is still an actively involved CEO that wants to compete in a marketplace.

00:05:36.260 He's not a guy that's golfing six, seven days a week.

00:05:38.260 He's in the game trying to make Facebook better and more competitive.

00:05:40.980 He has some issues.

00:05:42.280 They've got a lot of privacy issues.

00:05:43.760 The consumer's trust has gone down with Facebook.

00:05:46.240 The numbers prove people have lost a lot of trust with Facebook.

00:05:49.640 But having said that, it is still a behavior that you and I have on a daily basis.

00:05:54.000 And they know that, right?

00:05:55.740 So stories is up there.

00:05:56.960 One of the ones that came out recently, YouTube, about a year and a half ago, a year ago, when you started doing stories.

00:06:02.160 LinkedIn is also about to come out with stories.

00:06:03.840 They're doing a little bit of that.

00:06:05.100 But this is not going away.

00:06:06.360 Again, do you remember when I said if you went to a club called Facebook, the average person at that nightclub is going to be about 35 years old, 54%.

00:06:13.840 If you go into the club of stories, this club is filled with 20-year-olds.

00:06:19.340 So do you want 20-year-old customers?

00:06:21.140 Or do you want 35, 40, 50-year-old customers?

00:06:23.240 It all depends on who you're going after.

00:06:24.540 And by the way, this club is also the 14, 15, 16-year-olds that five, 10 years from now are going to remember you and stay emotionally connected to your brand.

00:06:33.280 If you stay with them and stay loyal to them, they'll be with you 10 years from now when they turn 28 years old, 27 years old.

00:06:38.980 Something to pay attention to.

00:06:40.700 So now, let's talk a little bit about cable TV, subscription, video on demand, as well as advertising video on demand.

00:06:48.580 Just to kind of tell you what's advertising and subscription.

00:06:51.040 Subscription is more like the Netflix, Hulu.

00:06:53.940 Advertising video on demand would be YouTube.

00:06:55.560 So now, today, user-based.

00:06:58.200 Netflix is still at the top.

00:07:00.140 Then it's Amazon Prime, number two.

00:07:02.000 Then it's Hulu.

00:07:02.640 Then HBO Now, believe it or not.

00:07:04.180 Then Sling came up.

00:07:05.860 DirecTV Now, Hulu Live.

00:07:07.480 And YouTube is still not up there.

00:07:09.120 YouTube is number eight.

00:07:10.120 YouTube is actually, you know, trying to do the subscription thing with YouTube Red and some of these other things that they're doing.

00:07:16.260 But they're trying to look at right now, saying, what is our blue ocean?

00:07:20.560 Because just like Google Plus tried to compete with Facebook, saying, we have the biggest platform, we can easily compete with Facebook and beat them.

00:07:28.520 Because everybody logs on to Google every day, and no one did anything with Facebook.

00:07:33.800 YouTube is kind of starting to sit there and say, wait a minute.

00:07:36.520 We're an advertising video on demand where people can go out there and watch content.

00:07:40.880 Why are we not doing good with subscription-based?

00:07:43.880 And a lot of that has to do with original series.

00:07:46.020 They're actually thinking about doing an original series without charging you for.

00:07:49.340 Like, you don't have to do like a, you know, the big original series, Narcos, all these things that they're doing.

00:07:54.560 They want to go in the direction of doing an original series, except for free.

00:07:58.480 Complete different approach they want to take, because the advertisers will spend more money on the original series.

00:08:03.500 So, we'll see what YouTube's going to do.

00:08:05.220 Obviously, YouTube is ran by a couple brilliant people, but a lot of brilliant minds in that company, at Google.

00:08:10.740 They're not going to be forgotten about.

00:08:12.120 They're going to do something.

00:08:12.980 That's something to be thinking about.

00:08:14.280 All right, so the next I want to take a look at is cable TV.

00:08:16.320 See, here's what's happened with cable TV in the last five years.

00:08:18.420 They lost 10 million users.

00:08:19.660 Very simple.

00:08:20.200 From 2013 to 103 million users.

00:08:22.420 Today, they have 93 million users.

00:08:24.740 Projected to get to the 70 million users in the next 10 years.

00:08:27.340 And by the way, very obvious what's taking place.

00:08:29.700 No one's playing a guessing game saying, oh my gosh, I'm surprised.

00:08:32.420 But I want you to be thinking about this.

00:08:33.780 Remember how I said if you go to a Facebook club, the average person that attends that club is going to be above 35 years old.

00:08:39.020 54% is going to be above 35.

00:08:40.800 If you go to stories, it's going to be 20s, and some teenagers will show up.

00:08:44.540 If you go to a nightclub hosted by cable TV, the average attendee is going to be 50 to 55 years old and higher.

00:08:50.400 Just so you know, that's the viewership that they have.

00:08:52.160 But businesses still know that there's a lot of value for cable TV.

00:08:57.040 They're still advertising.

00:08:58.140 They're still putting the money behind it.

00:08:59.720 Super Bowl commercial ads, 30 seconds, is $5.3 million.

00:09:03.940 Last year, I think, was $5.24 million.

00:09:06.580 So it's not like it's dropping or it's going up.

00:09:10.520 Companies are still willing to spend money.

00:09:12.000 Although one of the biggest brands in the world, one of the biggest brands, most recognizable brand in the world,

00:09:17.520 has decided to not do a halftime Super Bowl commercial this year for the first time in over 10 years, and that's Coca-Cola.

00:09:23.340 Their idea is a completely different thing they want to do.

00:09:25.220 They want to bring the country together by doing a commercial right before the national anthem.

00:09:31.560 The message is towards what happened with the NFL two years ago with Colin Kaepernick.

00:09:35.400 They kind of want to bring America together.

00:09:36.860 So Schumer, you know, all the issues we're facing with Pelosi, Trump, The Wall, Republicans, Democrats, CNN, MSNBC, Fox.

00:09:45.700 What can we do to bring America together?

00:09:48.100 Jeep did this a couple years ago with a commercial.

00:09:50.080 It was a massive hit.

00:09:51.620 If they go that approach, I think Coca-Cola's going to come out a winner here for cable TV.

00:09:56.700 But we'll see what happened there.

00:09:57.720 Here's another number to be looking at.

00:09:59.000 Digital ads on videos, online videos, has gone from $4 billion in 2010 to $35 billion in 2018.

00:10:08.360 That's 9x in a span of eight years.

00:10:10.620 That's a lot.

00:10:11.060 That means companies are spending money on video realizing it's a good idea for us to advertise on YouTube.

00:10:16.280 It is a good idea for us to advertise on Facebook.

00:10:18.060 It is a good idea.

00:10:18.620 People are there.

00:10:19.240 They're watching it.

00:10:19.780 So what about us spending more money?

00:10:21.520 They're fully trusting on what's taking place.

00:10:23.200 By the way, it's estimated for this $35 billion to go to $90 billion in the next five to seven years.

00:10:27.900 So that thing is not slowing down.

00:10:29.660 Having said that, ad blocking.

00:10:32.020 Ad blocking is something that different generations are better at.

00:10:36.260 Let me explain.

00:10:37.540 According to the research that I have, which I'll give you the link to look at, 40 million millennials know how to block ads.

00:10:44.920 Better than any other generation, 40 million millennials block ads.

00:10:48.840 Only 20 million Gen Xs and 11 million Baby Boomers.

00:10:52.040 So you can see which generation is more tolerant for ads versus the generation that isn't tolerant for ads.

00:10:59.300 But regardless of what's taking place, there's still ads taking place, but they also know how to block the ads.

00:11:04.860 Generation by generation by generation.

00:11:06.660 That takes me to the next part of length consumption.

00:11:09.120 You know, a lot of times, if you hired a marketing firm back in 2010, 2012, 2013, they would tell you, making long videos is not good.

00:11:19.600 The best format for videos is three minutes.

00:11:22.140 Your videos are too long.

00:11:23.260 We hired this marketing agency.

00:11:25.060 Your videos are way too long.

00:11:26.640 People don't like 20-minute videos.

00:11:28.180 People like three-minute videos.

00:11:29.560 And today, years later, we said, you know what?

00:11:31.020 We're sticking to this.

00:11:31.740 Years later today, our biggest viewed videos, millions of views video, they're all over an hour, 20 minutes, 30 minutes, 40 minutes.

00:11:39.780 And everybody's like, what happened here?

00:11:41.440 And some of the shorter format videos we did, 28,000, 19,000, 42,000.

00:11:46.320 So the whole idea about length, is there really truth behind it?

00:11:50.140 A lot of people thought there is.

00:11:51.440 Let me show you what's happened in the last two years.

00:11:53.980 Three different examples I got for you.

00:11:55.740 These are short formatted videos, 0 to 5 minutes.

00:11:59.520 Medium formatted videos, 5 to 20 minutes.

00:12:01.520 And then long form videos, 20 plus minutes.

00:12:03.840 Q1 2016 is the orange.

00:12:06.700 Q1 2018 is the red.

00:12:08.140 Ready?

00:12:08.700 Short.

00:12:09.560 We went from 55% of videos being 0 to 5 minutes in Q1 of 2016 to 38%.

00:12:15.980 We're making fewer, shorter videos than we did back then.

00:12:19.540 Medium has gone from 16% in 2016 to now 9%.

00:12:24.960 However, the only one that's on an uptick is the long format videos, 20 minutes plus.

00:12:30.840 It has gone from 29% to 54%.

00:12:33.440 Why?

00:12:33.840 Because viewers have told content creators, if your content you're creating is value-based,

00:12:40.680 I will watch it.

00:12:41.760 If it's not, I'm not going to watch it.

00:12:43.580 This is one of the reasons why I think the one video you need to watch is a video I made

00:12:47.060 saying 10 rules for content creators for entrepreneurs.

00:12:50.800 Click on a link over here to go watch that video.

00:12:53.020 It'll kind of give you an idea on how you need to be making content for yourself that fits

00:12:56.680 your motto because if you don't do it right, it will fail you.

00:12:59.680 If you do it right, it'll benefit you.

00:13:01.320 So the data about shorter videos, I don't know how much truth there is behind it.

00:13:05.300 From 10 years ago, people are starting to say, I want long format videos.

00:13:08.620 By the way, here's the kicker.

00:13:10.200 For some of you guys that are podcasters, the data, the report that I'll send you for

00:13:13.660 you to watch, the report on the podcasts to watch that are the long podcasts, people

00:13:20.220 are not liking longer podcasts today, minus the guys in the marketplace that are doing

00:13:25.100 very, very good, and there's about 100 of them.

00:13:27.220 Everybody else that's trying to get into podcast form to do an hour, two-hour, three-hour

00:13:31.720 podcast, users are saying, I can't stay on there for too long.

00:13:35.100 However, the podcasts, the new ones that are all of a sudden excelling are formats of 24

00:13:40.620 minutes, 16 minutes, 18 minutes, 12 minutes, podcasts that are only 12 minutes, 14, 24

00:13:45.440 minutes, people are starting to like them.

00:13:47.260 Obviously, number one podcast still around the world is NPR, and then you have some of

00:13:50.840 the other guys that's out there, but the name-wise individual is Joe Rogan.

00:13:54.160 He's doing a very good job with the podcast, crushing the game himself.

00:13:56.940 But for the people that are trying to get into it, our formatted podcast may not favor you

00:14:01.400 right now.

00:14:02.220 Video's slightly different because I'm watching, I'm listening, I'm feeling podcasts, I'm just

00:14:05.860 listening, right?

00:14:07.080 So that's the formatting there.

00:14:08.200 Now, a couple other numbers.

00:14:09.300 First, ad and media buying, where should you advertise?

00:14:13.380 This was a media summit that took place earlier in 2018, and all the buyers were there, and

00:14:19.500 they asked them a question, ranking one to five, which one of these platforms are priority

00:14:25.020 to you to advertise?

00:14:26.700 One being exploratory, five being most important.

00:14:29.940 Here's what they scored.

00:14:31.000 Google at the top, 4.6.

00:14:32.940 It's above Facebook, 4.1.

00:14:35.160 Insta is number three with 3.6.

00:14:38.380 How wild is that?

00:14:39.580 Insta is number three at 3.6.

00:14:41.800 YouTube, number four with 3.2.

00:14:44.600 LinkedIn, LinkedIn, LinkedIn is fifth place at 2.2.

00:14:50.840 Pinterest, 2.1.

00:14:51.980 Amazon is coming up like you wouldn't believe.

00:14:55.160 Amazon's going to get into the ads game like never before.

00:14:58.380 They are already in the subscription game, but they're getting in the ad game as well.

00:15:02.220 Now there's three different places for people to advertise on Amazon.

00:15:04.860 They're going to get that money as well.

00:15:06.380 Then you have Snap 1.9, and then you have Twitter at the bottom with 1.7.

00:15:10.840 So it's something for you to be thinking about that Google is still at the top.

00:15:13.760 Then it is, you know, you have Facebook, Insta, YouTube.

00:15:16.440 The one number that a lot of people don't pay attention to is, I pay very close attention

00:15:20.040 to two numbers, two stats.

00:15:22.000 Insta and LinkedIn.

00:15:23.260 Insta and LinkedIn.

00:15:24.780 There is a lot going on there.

00:15:26.280 I know a lot of you are already taking advantage of it.

00:15:28.320 If you're not, you've got to start really researching more Insta and putting your game

00:15:32.060 plan around LinkedIn and Insta if that's where your customers are going to be at.

00:15:35.680 Okay, having said that, let's look at some global trends.

00:15:39.200 Let's have some fun here.

00:15:40.060 This is pretty wild.

00:15:40.920 I mean, I was in India earlier in 2018 and spoke in front of 5,000 people to the IIT

00:15:46.480 Institute.

00:15:47.360 And I was there with former chairman of State Bank of India.

00:15:51.040 It's got like 240,000 employees.

00:15:52.520 And we spoke to the engineers.

00:15:53.780 And I gave them a message.

00:15:55.540 I said, listen, I want you to realize what's happening right now in India with the ideas

00:16:00.000 of capitalism, entrepreneurship, all this stuff.

00:16:02.060 What's been happening with India?

00:16:04.040 The level of hunger.

00:16:05.220 And you guys are producing some of the best engineers in the world.

00:16:08.340 American companies are hiring engineers from India.

00:16:11.640 I went to an insurance company.

00:16:13.680 The entire floor.

00:16:14.960 There was 200 engineers working on this floor.

00:16:17.640 The entire floor.

00:16:18.640 If I told you 80% was Indian, I'd be off. 1.00

00:16:21.680 More than 80%, they were all Indian.

00:16:23.860 I said, why?

00:16:24.440 He says, I love hiring people from IIT.

00:16:27.100 They come here.

00:16:27.740 We want them all.

00:16:28.360 They're so amazing engineers.

00:16:29.520 They're the best engineers.

00:16:30.440 We recruit them on board, right?

00:16:32.000 But watch these numbers here on what's been taking place.

00:16:34.640 So global trends.

00:16:35.460 Internet users.

00:16:36.600 China versus India. 0.80

00:16:38.640 India started late with internet users.

00:16:41.000 In 2010, China had 457 million internet users.

00:16:45.760 India had only 63 million.

00:16:47.400 That's a big difference, by the way.

00:16:48.460 These are the top two countries in the world population-wise.

00:16:50.700 Number one, India, number two. 0.97

00:16:52.820 I think China's ahead of India by like a couple hundred million people, right?

00:16:56.460 457 to 63.

00:16:58.240 Look what happens here.

00:16:59.780 2018, eight years later.

00:17:01.640 China, 802 million.

00:17:03.460 India, 431 million.

00:17:06.040 Percentage of growth.

00:17:07.240 China's 75%. 0.97

00:17:08.520 India's growth is 484%.

00:17:12.200 They grew their users by 409.

00:17:14.360 I wouldn't sit there and just say, India's not a market to pay attention to.

00:17:19.980 Let me give you a whole different number here.

00:17:21.700 PewDiePie versus T-Series.

00:17:23.120 T-Series is like the channel in India for music, music videos, all this stuff, right?

00:17:28.640 In 2017, January, PewDiePie had 51 million subscribers.

00:17:32.600 T-Series only had 14.5 million subscribers.

00:17:35.300 As of right now, today, whatever today's date is, like January 25th, 2019, PewDiePie's

00:17:40.620 at 82 million, small lead, over T-Series, 82 million.

00:17:44.640 Why?

00:17:45.060 Market is massive in India.

00:17:48.380 And they're learning about capitalism, entrepreneurship, business.

00:17:51.780 The prime minister, the president, their beliefs in capitalism and is pushing it.

00:17:55.920 And the younger generation is eating this stuff up.

00:17:59.180 And they're just learning.

00:18:00.000 Can you imagine if India actually really starts competing?

00:18:03.540 What could happen with their GDP?

00:18:04.700 I did a couple videos ago talking about where they rank for GDP.

00:18:08.660 You're going to see a lot of stuff happening here.

00:18:10.180 By the way, the one thing about India you've got to realize is they have less regulation

00:18:13.800 about being on other sides versus China.

00:18:16.880 China keeps everybody internal. 0.80

00:18:18.880 India actually allows people to go on YouTube and Instagram.

00:18:22.000 Not a lot of it here.

00:18:23.040 They lack control.

00:18:23.860 They lack every one of their social media apps to be through.

00:18:26.620 There's most of them do.

00:18:27.640 They've got an app that just came out.

00:18:28.840 I think it's called Toku.

00:18:30.060 It's like a Musical.ly with Snapchat and Instagram combined.

00:18:33.260 In 2018 first half, they're number one in the most apps downloaded for China.

00:18:37.560 Over 101 million.

00:18:38.460 Over every other app downloaded in the first half of 2018.

00:18:41.860 So they're competing, but it's internal.

00:18:43.480 And India does it with every other country around the world.

00:18:47.520 I see something happening here with India. 1.00

00:18:49.480 Maybe not like a year thing.

00:18:50.760 It could be a 3, 5, 10 year thing to be paying attention to.

00:18:54.300 Last but not least.

00:18:55.100 Remember when I said earlier there was two numbers, 46 million versus 30 million?

00:18:59.100 46 million, 30 million.

00:19:01.060 Ready?

00:19:01.400 Here's what that is.

00:19:02.220 46 million viewers logged on to watch the League of Legends World Championship game.

00:19:09.620 That's eSports.

00:19:11.360 46 million people around the world logged on to watch the League of Legends World Championship game.

00:19:19.460 You know what was 30 million?

00:19:20.620 30 million people around the world watched the NBA championship game.

00:19:25.580 30 million versus 46 million eSports.

00:19:31.300 Guess what?

00:19:32.500 In the age category of 18 to 34, percentage of viewers of age category 18 to 34, you know

00:19:40.780 what is the most viewed sport for age category of 18 to 34?

00:19:45.960 Percentage-wise.

00:19:47.140 The age category.

00:19:48.040 Ready?

00:19:48.400 eSports.

00:19:49.260 Number one.

00:19:50.180 62%.

00:19:50.700 60 eSports is bigger than soccer, 46%.

00:19:54.300 Worldwide.

00:19:54.900 It's bigger than basketball, 36%.

00:19:56.820 Bigger than hockey, 29%.

00:19:58.520 Tennis, 28%.

00:19:59.620 NFL, 28%.

00:20:00.980 Major League Baseball, 26%.

00:20:02.720 Golf, 21%.

00:20:03.920 ESports, last year, budget was $906 million in revenues, up 38%.

00:20:11.160 ESports is here.

00:20:13.080 And you're going to see a lot of kids, advertisers, realize, hey, we better start paying attention

00:20:17.960 to this year.

00:20:18.760 If we want buyers of 18 to 34, we better pay attention to what?

00:20:23.440 ESports.

00:20:24.100 And by the way, I got a lot of stats to give you on eSports.

00:20:26.760 I would be able to fill up all over the place if I was to give it to you, but I'm not going

00:20:30.560 to do that.

00:20:30.960 The part that you need to know about eSports, 380 million total viewers around the world.

00:20:38.580 380 million total viewers around the world who follow eSports and they actually watch it.

00:20:43.680 These are not all gamers.

00:20:44.680 Some of them are just those who watch it on what's taking place.

00:20:47.720 So by the way, all this data, everything you got from today's video means nothing unless

00:20:51.160 if you have a strategy to implement and help grow your business.

00:20:54.680 Do you remember earlier when I said this is the best time ever for a small business

00:20:59.220 owner to compete with the bigger companies because of adapting, changing, putting something

00:21:03.800 in place today?

00:21:04.920 You could be the India story of going from 63 million users versus China's 457 to having

00:21:11.420 the biggest percentage of growth.

00:21:13.160 This ought to be you putting a plan together to compete percentage-wise against the biggest

00:21:18.180 competitors in your marketplace.

00:21:19.620 How do you do it?

00:21:20.500 I got five points for you.

00:21:21.600 Number one, first thing you got to do is identify exactly who your ideal customer is.

00:21:25.860 Number one, because once you know who your ideal customer is, the next thing is what?

00:21:30.240 Which platform do they hang out at the most?

00:21:33.340 So I need to be there.

00:21:34.660 If I'm looking for this age category, it's Facebook.

00:21:37.400 If I'm looking for younger, it's Stories.

00:21:39.520 If I'm looking for older, maybe Cable.

00:21:41.520 If I'm looking for 30-year-olds, 40, maybe YouTube.

00:21:45.120 But I need to know that.

00:21:46.240 So number one is who your ideal customer is.

00:21:47.980 Number two is going to be your platform.

00:21:49.120 Number three, content.

00:21:50.440 Look, if you're still not creating content in 2019, you are being left behind.

00:21:56.160 Listen, I am not asking you to create content every day.

00:21:58.840 I don't create content every day on YouTube.

00:22:01.420 You know, I don't do it every day.

00:22:02.760 I have a schedule and I start it off with once a week and I work my way up.

00:22:06.480 The thing I recommend to you is put a calendar in 2019 and stick to it.

00:22:10.360 Here's what I mean.

00:22:11.460 If you don't think you can do once a day, if you don't think you can do once a week,

00:22:15.260 do once a month, but no matter what, you're doing it once a month.

00:22:17.960 If you can write an article Sunday nights and post it on your website for people to read,

00:22:23.280 start Sunday nights.

00:22:24.220 But whatever you're doing, create a calendar for content creation.

00:22:28.340 The video I told you earlier, 10 steps on how to create content.

00:22:32.420 What's the title of that video, Mario?

00:22:34.140 10 Rules for Creating Content.

00:22:36.240 We put the link over here.

00:22:37.380 Go watch that video.

00:22:38.860 Actually go through it and start realizing what is your strategy on how to create content for you.

00:22:42.840 So number one, customer.

00:22:43.760 Number two is platform.

00:22:44.520 Number three is content.

00:22:45.320 Number four, budget.

00:22:46.500 Once you know your customer, once you know the platform, once you are creating content,

00:22:50.240 then have a budget for you to get exposed.

00:22:52.620 If your audience is Insta, spend some money there.

00:22:54.900 If your audience is Facebook, spend some money.

00:22:57.080 If it's YouTube, spend some money there.

00:22:58.380 Put a percentage of what you're going to be doing to make a name for yourself.

00:23:01.400 And then last but not least, position.

00:23:03.040 Positioning is you knowing, as a small business owner, if I want to compete with the marketplace,

00:23:08.400 how do I position myself to compete?

00:23:10.520 If I go compete with a person, let's just say I'm the best at uppercuts,

00:23:13.600 and you want to come and beat with uppercuts, you're going to lose.

00:23:16.320 But maybe you have to work with speed.

00:23:18.140 Maybe you have to work with kick.

00:23:19.420 Maybe you have to work with something else.

00:23:21.020 I made a video, I think a year and a half, two years ago, called How to Compete with Bigger Companies.

00:23:26.120 Size versus position.

00:23:27.740 It's a short 10-15 minute video for you to watch.

00:23:29.860 It'll give you a strategy on how to do that.

00:23:31.480 How to compete with bigger companies.

00:23:32.780 Thanks, everybody, for listening.

00:23:34.500 And by the way, if you haven't already subscribed to Valuetainment on iTunes, please do so.

00:23:39.060 Give us a five-star.

00:23:40.460 Write a review if you haven't already.

00:23:41.960 And if you have any questions for me that you may have, you can always find me on Snapchat,

00:23:46.040 Instagram, Facebook, or YouTube.

00:23:48.000 Just search my name, Patrick David.

00:23:49.900 And I actually do respond back when you snap me or send me a message on Instagram.

00:23:54.900 With that being said, have a great day today.

00:23:56.640 Take care, everybody.

00:23:57.340 Bye-bye.

00:23:57.600 Bye-bye.

00:23:57.660 Bye-bye.

00:24:02.780 Bye-bye.

Valuetainment - May 13, 2019

Episode 301 - Digital Media Trends Every Entrepreneur Needs to Know About

Episode Stats

Summary

Transcript