First-party data plays a major role in Hollywood decision-making to pinpoint content that will resonate with audiences. But Brent Magid, CEO of media research and entertainment consulting firm Magid, warns that focusing on what consumers have already done is “only part of the picture.” In reality, their current thinking is “more predictive about they’re likely to do.”
“Truly understanding people is pretty crucial,” the consumer research executive told TheWrap for this week’s Office With a View. “There are a lot of people whiffing on it because they think they can get away without it. You can, but you’re going to operate at a 30%-40% disadvantage.”