Topic 1.1 and 1.2

00:11:25
https://www.youtube.com/watch?v=StFlrBWXyfg

Summary

TLDRThis video lectures on the strategic management of human capital within the entertainment industry, emphasizing the importance of adapting to the current context affected by the pandemic. The speaker outlines what entertainment entails and stresses the necessity to redefine strategies as the industry is one of the few booming areas amidst the pandemic. Positioned within a universe of communication and entertainment, the consumer remains central to future strategies. The discussion includes the industry's role in providing escapism and joy, the impact of technological advances, and the importance of addressing new consumer behaviors post-pandemic. The need to integrate marketing, leadership, and innovative propositions is highlighted as essential to maintain competitiveness and audience satisfaction in this rapidly evolving and competitive environment.

Takeaways

  • 🎥 Entertainment provides pleasure and value to audiences.
  • 📈 The industry is currently in a phase of growth and explosion.
  • 🔄 Adjustments are crucial due to pandemic-induced changes.
  • 🧑‍💼 Effective leadership in multiple domains is vital.
  • 🌐 Technology enhances immersive audience experiences.
  • 🎭 Entertainment offers escapism during difficult times.
  • 🔍 Understanding new audience behaviors post-pandemic is essential.
  • 🤝 Long-term relationships with audiences should be built.
  • 🎯 Enhancing audience experiences is the ultimate goal.
  • 🌟 Importance of offering competitive narratives and strategies.

Timeline

  • 00:00:00 - 00:05:00

    The presentation starts with an introduction to human capital strategy management in the entertainment industry, highlighting its definition as anything that brings pleasure and creates value for audiences. It emphasizes the diverse range of entertainment forms, including theatrical arts, sports, and concerts, all aimed at providing enjoyment and value for audiences. The current trends in the industry are influenced by the pandemic, with entertainment experiencing growth and becoming more prominent in the digital realignment context. The importance of strategic management and leadership in adapting to these changes is underscored, as the industry seeks to engage and provide value in a digitally transformed environment.

  • 00:05:00 - 00:11:25

    The speaker continues by discussing the impact of the COVID-19 pandemic on entertainment habits, noting the shift to digital and remote work practices. The pandemic has altered how people connect and consume entertainment, introducing new challenges and opportunities for engagement. The importance of understanding consumer expectations and adapting strategies to the 'new normal' is stressed. The discussion further explores competitive challenges in the industry, emphasizing the need for strategic thinking in production and marketing. Entertainment operates in a highly competitive market, requiring innovation and strategic alignment across various channels to deliver compelling experiences and maintain growth and engagement with audiences.

Mind Map

Video Q&A

  • What is a key aspect of the entertainment industry?

    The entertainment industry focuses on providing pleasure and delight to audiences, creating value through various performances and events.

  • Which industries have been impacted by the pandemic according to the discussion?

    The entertainment industry, among others, has been significantly impacted by the pandemic, affecting how entertainment is consumed and produced.

  • How does the speaker view the current state of the entertainment industry?

    The industry is in a state of explosion and growth, situated in the top right quadrant alongside technologies like video chat and social media.

  • What is a major challenge in the entertainment industry?

    A major challenge is connecting with audiences in engaging ways, especially due to changes brought by the pandemic.

  • What areas are crucial for managing entertainment businesses successfully?

    Leadership in areas like advertising, market research, public relations, strategic planning, and marketing is crucial.

  • What is the impact of technology on entertainment?

    Technology has allowed for more immersive experiences in movies, theater, music, dance, sports, and museums.

  • Why is entertainment important during difficult times?

    Entertainment helps people relax and forget about societal issues, such as economic conditions or conflicts, providing a necessary escape.

  • What needs to be considered for post-pandemic entertainment strategies?

    Understanding audience feelings, new behaviors, and building new scenarios to engage with them effectively is essential.

  • How can entertainment companies maintain competition?

    By offering compelling narratives, value-added propositions, and maintaining omnipresence across media.

  • What is the ultimate goal for entertainment managers?

    To enhance the experience of the public and establish long-term positive relationships with audiences.

View more video summaries

Get instant access to free YouTube video summaries powered by AI!
Subtitles
en
Auto Scroll:
  • 00:00:00
    foreign
  • 00:00:00
    [Music]
  • 00:00:08
    hi everyone
  • 00:00:10
    so we are going to start now with our
  • 00:00:12
    theoretical review on the first topic
  • 00:00:15
    before doing that we're going to cover a
  • 00:00:18
    little bit of introduction in the
  • 00:00:20
    context that we are going to treat in
  • 00:00:23
    the human capital strategy management
  • 00:00:25
    first is important to understand
  • 00:00:28
    where we are what's our context the kind
  • 00:00:32
    of business that we are handling the
  • 00:00:35
    entertainment industry
  • 00:00:36
    what is then entertainment how can we
  • 00:00:40
    Define entertainment remember that it's
  • 00:00:42
    everything that can be pleasure that can
  • 00:00:45
    be the light for the audiences okay and
  • 00:00:48
    it's produced in a certain way to
  • 00:00:51
    perform and catch the tension and
  • 00:00:54
    produce a chain of value for our public
  • 00:00:58
    how does it happen who makes this to
  • 00:01:01
    work
  • 00:01:02
    we have a lot of people who work behind
  • 00:01:05
    the scenes that make this all this true
  • 00:01:08
    that so our audiences can enjoy our
  • 00:01:11
    developments
  • 00:01:12
    you know it's in a different kind of
  • 00:01:15
    venues we can have from entertainment in
  • 00:01:18
    the theatrical and Scenic Arts to the
  • 00:01:20
    sporting events rock concerts classical
  • 00:01:24
    musics performers in different areas but
  • 00:01:28
    all of them are included in what we call
  • 00:01:31
    entertainment
  • 00:01:33
    so what is the entertainment now in our
  • 00:01:36
    modern context
  • 00:01:38
    this graphic shows how is the different
  • 00:01:42
    kind of areas in business and how they
  • 00:01:45
    are performing in four different
  • 00:01:46
    quadrants growth explosion slowdown and
  • 00:01:50
    emergence of course you will notice that
  • 00:01:52
    if you are in the top of the on the
  • 00:01:55
    chart you are doing fine you are growing
  • 00:01:58
    and if you are in the up right quadrant
  • 00:02:02
    in explosion you are one of the best
  • 00:02:04
    performers and that is where video chat
  • 00:02:07
    online conference social media and media
  • 00:02:10
    and entertainment are located
  • 00:02:12
    yes there are no other Industries there
  • 00:02:15
    although in also fine
  • 00:02:17
    but this of course has influenced by the
  • 00:02:19
    pandemic and also remember the concept
  • 00:02:23
    of we are is we are still in the
  • 00:02:25
    pandemic going out but we are building
  • 00:02:27
    what is being called the new realignment
  • 00:02:31
    the new context okay so there are a lot
  • 00:02:36
    of industries that are not there so we
  • 00:02:39
    have to be happy that our industry the
  • 00:02:43
    entertainment business is on the top of
  • 00:02:46
    explosion
  • 00:02:48
    how to address this opportunity that's
  • 00:02:50
    what we are here
  • 00:02:51
    how to take our people our staff
  • 00:02:55
    to tackle those issues
  • 00:02:58
    the context that we are covering here is
  • 00:03:00
    in really a universe where we need to
  • 00:03:04
    see a contest of management in the
  • 00:03:07
    digital area
  • 00:03:08
    in two areas
  • 00:03:10
    or two access may I say communication
  • 00:03:12
    and entertainment and in the middle of
  • 00:03:15
    that galaxy is the consumer and the fund
  • 00:03:18
    and you may see it's surrounded by a lot
  • 00:03:21
    of things that make it happen our
  • 00:03:23
    industry such as leadership
  • 00:03:25
    from ourselves and that's what we are
  • 00:03:28
    here so you can be the leaders that
  • 00:03:30
    conduct all these efforts advertising
  • 00:03:33
    market research commercial media public
  • 00:03:35
    relations strategic planning of course
  • 00:03:38
    and marketing
  • 00:03:40
    and all of this has been done through
  • 00:03:43
    journalism branding Industries ings
  • 00:03:47
    Scenic Arts massive Arts Sports
  • 00:03:49
    editorial musical every kind
  • 00:03:52
    entertainment
  • 00:03:53
    that's where we are working this is the
  • 00:03:57
    our universe so remember that in this
  • 00:04:01
    universe our role is to entertain
  • 00:04:04
    to make people happy to get them relaxed
  • 00:04:07
    fun and enjoy to forget about all the
  • 00:04:11
    problems that we may have
  • 00:04:13
    where it would be the traffic the
  • 00:04:16
    pollution would be the economic
  • 00:04:18
    conditions that we have War
  • 00:04:21
    break out in some kind of enjoyment
  • 00:04:27
    we have a lot of examples here
  • 00:04:30
    we are now
  • 00:04:31
    living through the war in ukrainia and
  • 00:04:34
    even in Ukrainian people is getting
  • 00:04:35
    entertained
  • 00:04:37
    that entertainment is passive or dynamic
  • 00:04:41
    we could be Spectators or we can be part
  • 00:04:44
    of that as a matter of fact remember
  • 00:04:47
    the entertainment and the basis of the
  • 00:04:50
    evolution of technology is allowing us
  • 00:04:53
    to get an immersive experiences for our
  • 00:04:57
    audiences and that's the dynamic
  • 00:04:59
    part of our business and this is
  • 00:05:02
    happening in movies theater music dance
  • 00:05:04
    and sports and even museums
  • 00:05:07
    remember that we have to make people
  • 00:05:10
    happy
  • 00:05:11
    and bringing them pleasure a Mia's
  • 00:05:14
    announcement in some kind
  • 00:05:15
    to have to be announcement and pleasure
  • 00:05:18
    that comes from watching a performer
  • 00:05:20
    or playing a game which is different and
  • 00:05:23
    all of these well we made business and
  • 00:05:26
    guess what we are being paid for that's
  • 00:05:28
    what makes this very exciting
  • 00:05:32
    now in the modern concept how visible is
  • 00:05:34
    this
  • 00:05:35
    how ready are we to compete against all
  • 00:05:39
    the proposals that are in the market and
  • 00:05:40
    we're going to see now
  • 00:05:42
    how many kind of competitive scenarios
  • 00:05:45
    we will face
  • 00:05:47
    but before doing that we have to
  • 00:05:49
    understand how the outbreak of the
  • 00:05:51
    pandemic has changed in our
  • 00:05:52
    entertainment habits the pandemic has
  • 00:05:55
    heavily impacted our industry as all the
  • 00:05:57
    society
  • 00:05:59
    in this do we not have to know how do
  • 00:06:02
    the people feel how the people thinks
  • 00:06:05
    and believe about all the
  • 00:06:09
    thinking their knowledge how the fans
  • 00:06:12
    are now connected with us in the
  • 00:06:15
    lockdown what are they expecting and
  • 00:06:17
    wishing to have in this way back
  • 00:06:20
    through the pandemic we have changed
  • 00:06:23
    and we have acquired new habits
  • 00:06:26
    which of them will be retained in the
  • 00:06:29
    newest scenario and which of those
  • 00:06:31
    will be for God
  • 00:06:34
    we have that conditions and remember
  • 00:06:36
    that I guess that some of you may have
  • 00:06:38
    experienced that in your work
  • 00:06:41
    the typical now home office Spectrum but
  • 00:06:45
    even in Productions to do a pandemic we
  • 00:06:47
    could see a lot of people working with
  • 00:06:49
    the face mask on it
  • 00:06:52
    people working from home how do they
  • 00:06:55
    feel do they feel connected
  • 00:06:57
    to those of you and you are now my
  • 00:07:00
    audience how do you feel when we
  • 00:07:02
    connected on online virtual we have to
  • 00:07:05
    connect isn't that right so that's our
  • 00:07:07
    challenge in entertainment how to do it
  • 00:07:10
    in an appealing and enriched way for all
  • 00:07:14
    of us now how to make though through all
  • 00:07:17
    those dreams and ideas in the today's
  • 00:07:20
    pandemic and after pandemic War how do
  • 00:07:24
    we build a new normality
  • 00:07:27
    we have to get all these in
  • 00:07:29
    consideration
  • 00:07:31
    our audience's feelings the new ideas
  • 00:07:34
    that we're building the new scenarios
  • 00:07:36
    what needs to be done to this to be
  • 00:07:38
    happened
  • 00:07:39
    what's the current state of our
  • 00:07:41
    entertainment and communication
  • 00:07:43
    communities let's remember that before
  • 00:07:45
    this pandemic we have the traditional
  • 00:07:48
    models of communication where we had a
  • 00:07:52
    single provider of entertainment
  • 00:07:54
    services
  • 00:07:55
    in the same way that we studied back a
  • 00:07:58
    communication model that went back to
  • 00:08:00
    the
  • 00:08:01
    late Forest when we have a creative
  • 00:08:04
    producer and distributor originator and
  • 00:08:08
    then True Media and channels we had to
  • 00:08:10
    connect with people and somewhere
  • 00:08:13
    somewhat we communicate in the feedback
  • 00:08:15
    with them even though that feedback was
  • 00:08:17
    not perfect of course
  • 00:08:19
    thereafter that included
  • 00:08:22
    meanings
  • 00:08:23
    expressing them in a decoding as a
  • 00:08:27
    decoding sequence
  • 00:08:28
    now what is happening
  • 00:08:31
    in Korean war after the pandemic with
  • 00:08:34
    all the technological developments in we
  • 00:08:37
    have a media that relates a consumer
  • 00:08:39
    with a need
  • 00:08:41
    but that means of the consumer can be
  • 00:08:44
    fulfilled in different ways in the same
  • 00:08:46
    way that we can see here triangles and
  • 00:08:49
    all this is those are options different
  • 00:08:51
    competitive options let's say that you
  • 00:08:55
    are running a event that is going to
  • 00:08:57
    reproduce it for next month but at the
  • 00:09:00
    same time that event is going to be
  • 00:09:03
    coincidentally placed alongside and a
  • 00:09:07
    sporting event very important such as
  • 00:09:09
    the Formula One race
  • 00:09:11
    so what do you have to do to compete and
  • 00:09:15
    to address your proposal to send your
  • 00:09:17
    proposal to your audience in order that
  • 00:09:20
    it can be considerated evaluated
  • 00:09:23
    and taken
  • 00:09:25
    how do you are going to satisfy that in
  • 00:09:27
    a world that you are going to compete
  • 00:09:29
    also
  • 00:09:30
    when
  • 00:09:32
    screening streaming options that are
  • 00:09:36
    competing for the market
  • 00:09:38
    so what is your decision
  • 00:09:41
    and this is however the context the
  • 00:09:43
    complex world that we operate so
  • 00:09:46
    entertainment Works in a highly
  • 00:09:47
    competitive context we have to work in a
  • 00:09:50
    strange set conditions to deliver
  • 00:09:52
    results in order to get ticket sales
  • 00:09:54
    merchandising sponsorships we have to
  • 00:09:58
    have a faster return investment
  • 00:10:00
    you have to build also long-term
  • 00:10:02
    relationships in the other side
  • 00:10:04
    marketing related Innovation value-added
  • 00:10:07
    propositions
  • 00:10:08
    compelling narratives on his back to
  • 00:10:11
    production
  • 00:10:13
    and all that in omnimedia presence
  • 00:10:15
    you know what's our goal to enhance the
  • 00:10:18
    experience of our public
  • 00:10:20
    remember who does it and how he's done
  • 00:10:23
    all these people
  • 00:10:25
    and that's why we are going to work in
  • 00:10:28
    this course there is a lot of things to
  • 00:10:30
    cover you have seen how are you going to
  • 00:10:33
    address that how we are going to make
  • 00:10:34
    these people to be happy and engaged to
  • 00:10:37
    produce really those options that will
  • 00:10:41
    fulfill our proposals and also we'll get
  • 00:10:46
    the compliance with the goals of ticket
  • 00:10:48
    sales Financial sales uh innovation
  • 00:10:53
    so we can be in a way situation how do
  • 00:10:58
    we make our people happy inside so they
  • 00:11:01
    communicate with all those audiences and
  • 00:11:03
    made them happy and joyful
  • 00:11:06
    to address and get our process
  • 00:11:09
    glad to see you again and next see us in
  • 00:11:12
    the next round of our course
  • 00:11:15
    [Music]
Tags
  • entertainment industry
  • human capital
  • pandemic impact
  • consumer engagement
  • digital strategy
  • technology in entertainment
  • post-pandemic adjustments
  • competitive strategies
  • audience satisfaction
  • leadership