1st September 2020 – Quantity of content drives a dedicated fanbase and demand rises for home schooling resources – Update from the kids, teens and family sector
Quantity increases the frequency
Frequency of engagement is an important part of building and sustaining a fan base. The more frequently you can get a fan to consume your content the better. However frequency is either driven by gamification or by a sheer volume of content, if you want to get your fanbase to engage daily, you need to give them something new to consume daily (or reward them for consuming the same thing more than once). This is the strength of someone like TikTok, you can jump on at any time day or night and know that there are literally 1,000s of new videos waiting to be watched, and if the one you are watching isn’t great, another is just a swipe away. However for sites such as Quibi, they failed to recognise this and are struggling as a result. They used the logic that people LOVE TikTok, imagine if we gave them super high quality content in the same format… the issue is people really liked the quantity also, and that is something Quibi’s model couldn’t deliver..
Kids go back to staying at home school
Parents (mainly in the US) are obviously hedging their bets as the new school year starts by investing in a lot of “home schooling” supplies versus the traditional back pack fillers. NPD saw an increase in sales for monitors, mice, keyboards and docking stations and a decrease in sales for pens and spiral note books versus last year. There was also an increase in self guided educational products like activity books and other home schooling supplies. This will have an impact across the licencing industry who have often relied on back to school products to give a mid year bump in revenues outside of the traditional Christmas period, they will need to adapt their product ranges if the pandemic continues to influence school attendance.