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Posts Tagged ‘social media monitoring’

Hollywood’s Wary Embrace of Big Data

In recent years the movie business has used social data to connect with audiences and stepped up its reliance on quantitative data to forecast box office revenues. However, if data represented a person, that individual may get a seat at L.A.’s trendiest restaurant, but would still be seated in the back room. That was the gist of a Tribeca Film Festival Industry Talks panel on Tuesday in New York.

“There are three countervailing forces at play that we need to balance, namely the artistic creative side, technological advances and commercial considerations”, said Jason Kassin, co-founder and CEO of Film Track, a rights management company.

“Navigating the world with data points is different than it was five years ago”, added Eugene Hernandez, Film Society of Lincoln Center‘s director of digital strategy. The biggest change is the use of sentiment analysis to monitor audience reactions, though the benefits appear mixed:

  • Sentiment-based date is broadly used: “Big data has become socialized”, said Bill Livek, vice chairman and CEO of entertainment measurement company Rentrak. Their customers include not only big studios, but also independent studios and distributors across the country.
  • Social media monitoring yields massive, but imprecise data: Sentiment analysis measures movie reviews, ratings and audience comments. As Stacy Spikes, CEO and co-founder of theatrical subscription service MoviePass noted, “Going to the movies now is a communal experience”. Nevertheless, social media data isn’t projectable, the panelists cautioned.
  • Sentiment analysis can point to the right direction, according to Christina Warren, Mashable’s senior tech analyst. “But since monitoring is mostly done by machine, it’s best to use the tool to help target audiences and markets”, she explained. Livek concurred, adding, “A social media database can drive certain activities, but not content creation.”

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MyMediaInfo Research and Consulting Launches

Lots of launches to announce this week! MyMediaInfo Research and Consulting launched this week, offering users dedicated analysts to measure and analyze print, broadcast, and social media.

To head this new division, the company has hired Scot Wheeler as VP of Research and Consulting. He has 15 years of experience, working with companies such as Motorola, State Farm, and The University of Chicago.

Microsoft Gets Into Social Media Monitoring Business

Microsoft will unveil Looking Glass today, its first offering in the crowded social media monitoring space. Looking Glass is not yet available to the public and Microsoft will begin testing it next month. Advertising Age‘s Abbey Klaassen explains how it will work:

A marketing manager can get an e-mail alert when there’s a sudden surge of chatter about his or her brand on Twitter or Facebook, along with the sentiment of that chatter and the influence level of those blogging. That information can then be connected to a customer-relationship-management system to decide whether customer service or PR should respond. Or a cable operator’s customer service rep could monitor Twitter for outage reports and send off a repair request straight from the tool. And Looking Glass will hook up to existing customer databases, so a pharmaceutical brand manager would be able to figure out if a person throwing a hissy fit on his blog is an influential doctor or current customer.

In Forrester Research’s Q1 2009 report on “Listening Platforms,” Nielsen’s Buzz Metrics ranked highest.