— Topic —

    Attention Economy

    4 receipts tracked • 100% industry hit rate

    — Filed —

    4 receipts on Attention Economy

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    RECEIPT #SCOTT-

    JAN 05, 2024

    Called it.

    PREDICTION BY

    Scott Galloway
    TikTok Comes for $NFLX and $SPOT

    FOLLOW-UP

    TikTok’s share of global digital ad spend and user time continued to rise through 2024, competing directly with OTT/streaming and music platforms for both user attention and brand budgets. Long-form streamers and audio platforms increased investment in short-form & social promotion. The prediction is qualitatively borne out: TikTok more aggressively competed for attention and ad dollars traditionally targeted at Netflix/Spotify’s spaces.

    RECEIPT #SCOTT-

    MAY 18, 2024

    Called it.

    PREDICTION BY

    Scott Galloway
    He predicts that TikTok will soon challenge Netflix and Spotify by using its algorithm to dominate more of our entertainment time.

    FOLLOW-UP

    TikTok's usage has expanded into longer-form content and music, encroaching on traditional entertainment time. It remains a significant music discovery engine, and while Netflix and Spotify still dominate their core areas, TikTok is a major rival for marginal entertainment minutes.

    ORIGINAL SOURCE

    Hotel eMarketer

    RECEIPT #SCOTT-

    JAN 05, 2024

    Called it.

    PREDICTION BY

    Scott Galloway
    Bar one door, and the wolf shows up at the next. We tend to focus on competition between similar products, i.e. Netflix vs. Disney, Spotify vs. Apple Music. But entertainment is one market, the market for attention, and one platform is ahead of everyone else in harvesting the commodity: TikTok. … 2024 is the year we’ll see TikTok take share from streamers.

    FOLLOW-UP

    This 'attention market' framing has been reflected in how marketers allocate cross-platform video and creator budgets, with TikTok being benchmarked against CTV and traditional streaming. Both Netflix and Spotify expanded ad-supported models, demonstrating competition for overlapping ad dollars and attention, aligning with the prediction.

    ORIGINAL SOURCE

    Profgalloway.com

    RECEIPT #SCOTT-

    JAN 05, 2024

    Called it.

    PREDICTION BY

    Scott Galloway
    2024 is the year we’ll see TikTok take share from streamers.

    FOLLOW-UP

    TikTok's global usage and time spent continued to grow, directly competing with Netflix and Spotify. Netflix and Spotify faced slowing growth, while TikTok expanded into longer-form content and music discovery, indicating a shift in attention and consistent with the prediction.

    ORIGINAL SOURCE

    Profgalloway.com