Perception vs. Reality vs. My Friend vs. "The Twitter Effect" - Vincent Bruzzese - MediaBizBloggers

Welcome Ipsos OTX MediaCT our newest MediaBizBloggerThere are some things that we know not to be true but we allow them to pervade our daytoday conversations We39ll knock on wood to protect against something bad happening if there isn39t anything wooden apparently the hardest nearby surface will also suffice We39ll think that the weather patterns conspire against us personally when it rains on the day we planned to go to the beach evidenced by such utterances as quotfigured it would wait until today to finally rainquot We39ll continue to believe Murphy39s Law is one of the few constants left in the universeThere are some things that we believe to be true because a clever marketing campaign created that truth despite the fact that it39s clearly false In fact these implanted beliefs can get such a strong foothold in our minds that even with evidence to the contrary we refuse to let go of what we now know to be false The rise of quotbottled waterquot sales in the past twenty years has been stratospheric Despite the fact that in oneonone taste experiments those consumers cannot tell the difference been tap and bottled water from stream water to filtered water to tap water Even more alarming is that after being presented with this evidence consumers continue to purchase not only bottled water but a particular brand of bottled water Similar effects can be seen for vodka or one of the most successful examples quotDiamonds are rarequotThen there are some things we believe to be true simply because everyone says it is This is the world of anecdotal evidence otherwise known as quotmy friend once tried that andamp8230quot Thus while most people in their everyday lives require a certain degree of logic and evidence before accepting something to be true ie nobody would eat a live snake to cure a headache simply because someone39s friend did it successfully there are some claims that slip under that standard These claims generally sound true and on the surface they wouldn39t qualify as something to be cynical about This is where the world of perception lives where those with the best spin can literally create reality As an example look at the following statements heard at a recent movie event in Los AngelesA quotDVR39S have reduced the effectiveness of movie commercials something needs to be done to reverse thatquotB quotNobody is watching TV anymore they are all watching shows on their computers iPhones iPads iTunesquot seriously the person said iTunesC quotThe Twitter effect killed that movie by Friday night everyone was tweeting about itquotThey all sound reasonable They are all wrong They are perceptionConsider thisA 50 of those without DVR39s do not stay in the same room as the TV during commercials of any kind Almost all of those with DVR39s remain while fast forwarding 75 of those with DVR39s rewind when they see a movie commercial to watch it The math here is simple Those with DVR39s are MORE likely to watch movie commercials1B The second most prominent reason people watch TV shows online is because someone recommended a show to them that had already aired Previously they would have waited for the DVD set to come out but now they can watch the episodes online until they are caught up You can guess what happens after they are caught up right They begin watching the show on TVC My favorite The Twitter effect Wellamp8230take a lookquotThe Twitter Effectquot is generally described as the use of the social networking tool Twitter to give real time updates as to the quality of a movie which has the potential to result in an immediate boxoffice impact The most recent example usually given to illustrate this was Bruno The follow up to Borat saw a 39 decline on Saturday a day normally known for having an increase over Friday39s boxoffice numbers giving the film a Friday to Sunday multiple of only 21 compared to an average multiple of roughly 302Is this type of decline a recent phenomenonWhile a precipitous drop in boxoffice from Friday to Saturday is not usual there are also many quotpreTwitterquot examples Back in 2008 when Twitter was relatively unknown movies like Fun With Dick and Jane 50 drop FriSat Sex and the City 35 drop Twilight 41 drop and Saw V 30 drop all saw similar declines Even Hannah Montana The Movie declined 41 despite the fact that young females are the least likely to have ever Twittered about a movie either during or after viewing it2Is Twitter a primary source of information about a movie to begin withNo While TV ads and trailers remain at the top with over 65 of respondents selecting those platforms Twitter remains as informative as ads within a video game 101Since Twitter is real time updates is it the place where moviegoers first hear about how much others liked a movieNo Facetoface is WAY up top Facebook is clawing its way up and Twitter is on the bottom of a list of 15 different possible sources at 11We know that wordofmouth is influential so how does Twitter rank on influenceThe least impactful wordofmouth one could hear is from tweets of people they don39t know well roughly half cite this as the least impactful followed by the second least impactful source of information Tweets from those they DO know well 371How do moviegoers spread wordofmouthNot by tweeting it I can tell you that Only 8 choose this method of sharing their views on a movie39s quality which is the lowest ranked option Facetoface Facebook MySpace Message boards Blogs etcamp8230are all significantly higher 1The most surprising thing of all After presenting this information to a room full of well informed executives in the entertainment industry I hear in the hallway quotWell my friend tweets from the theater all the time and all I have to do is check it to find out about a moviequotThen again out here in LA everyone has 1500 followers on Twitter drinks bottled water to rehydrate after a night spent with Grey Goose and I won39t even mention the size of their diamondsVincent Bruzzese is President Worldwide Motion Picture Group at Ipsos OTX MediaCT He can be reached at VincentBruzzeseipsoscomRead all Vincent39s MediaBizBloggers commentaries at Ipsos OTX MediaCTCheck us out on Facebook at MediaBizBloggerscomFollow our Twitter updates MediaBizBlogger1 Data is from the Ipsos OTX Quarterly Moviegoer eXperience Study TMX2Box office data is from boxofficemojocom

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Perception vs. Reality vs. My Friend vs. "The Twitter Effect" - Vincent Bruzzese - MediaBizBloggers

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