The question has to be why entertainment conglomerates continue to engage in subrational behaviour (from a pure economic theory perspective).
While narratives created on X/twitter, IMdb, Rotten Tomatoes, YouTube and other social media do have real impact — witness the positive social media build up of K-Pop Demon Hunter — they do not represent the full picture of audience potential or actual viewership.
So, why give into it?
The conglomerates are more focused on the perceptions of advertisers (who determine revenues), shareholders (which impact share prices) and the stances of regulators that set and govern the ground rules of the industry.
This is nothing anyone can claim is a well functioning entertainment marketplace.
In such a situation, assertions about things failing due to ‘not finding an audience’ are naive or disingenuous.
The question has to be why entertainment conglomerates continue to engage in subrational behaviour (from a pure economic theory perspective).
While narratives created on X/twitter, IMdb, Rotten Tomatoes, YouTube and other social media do have real impact — witness the positive social media build up of K-Pop Demon Hunter — they do not represent the full picture of audience potential or actual viewership.
So, why give into it?
The conglomerates are more focused on the perceptions of advertisers (who determine revenues), shareholders (which impact share prices) and the stances of regulators that set and govern the ground rules of the industry.
This is nothing anyone can claim is a well functioning entertainment marketplace.
In such a situation, assertions about things failing due to ‘not finding an audience’ are naive or disingenuous.