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Why companies like iHeartMedia, NBCU rely on homegrown IP to build metaverse engagements

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Why companies like iHeartMedia, NBCU rely on homegrown IP to build metaverse engagements

To avoid potential blowback from a skeptical audience, retailers as well as media and entertainment companies are learning to invest in their homegrown intellectual properties while building virtual brand activations inside Roblox or Fortnite.

Take, for instance, when they get it wrong.

Earlier this week, Walmart launched its own Roblox world — called Walmart Land — and was roundly mocked for it across social media given the announcement’s disjointed brand message and apparent lack of life. In one viral tweet, a Twitter user described a clip of Walmart CMO William White introducing the Roblox space as “one of the saddest videos ever created.”

This video of Walmart’s chief marketing officer on a stage in Roblox talking about its new “Walmart Land” experience is one of the saddest videos ever created. pic.twitter.com/HtIIToShKs

— Zack Zwiezen (@ZwiezenZ) September 26, 2022

To some extent, this sort of criticism is to be expected during the early days of the metaverse.

“Walmart is an iconic brand; when you see them coming into a platform like Roblox, people are going to be 10 times more critical of what is being launched,” said Yonatan Raz-Fridman, CEO of the Roblox developer studio Supersocial.

But Walmart’s size is not its only disadvantage as it dips its toes into Roblox. Although Walmart has a widely recognizable brand, it owns few intellectual properties that users are actually interested in experiencing virtually — a shortcoming reflected by the somewhat cavernous emptiness of Roblox’s Walmart Land.

Provided by NBCUniversal

The success of other recent brand activations is evidence that media and entertainment brands are better equipped to build metaverse spaces that can dodge online skepticism, thanks to their wealth of owned IP.

“They are having to reinvent themselves, to a certain degree, but that is in their DNA,” said Jesse Streb, global svp of technology and engineering at the agency DEPT. “So they have a unique advantage over, say, some kludgy company that sells lumber, or a construction company.”

For example, iHeartMedia’s Roblox and Fortnite spaces were inspired by the mass media corporation’s wealth of popular real-life events, such as the Jingle Ball Tour and iHeartRadio Music Festival, with virtual versions of musicians like Charlie Puth performing pre-recorded concerts that allow real-time audience interaction.

“There’s a strong brand association with the IP, down to a station level — you’re in the New York area, you probably know Z100,” said iHeartMedia evp of business development and partnerships Jess Jerrick. “The same is true for the event IP, or the IP that we now have in the podcasting space, and of course our radio broadcast talent. So there’s no shortage of really strong IP we can bring into these spaces.”

Translating real-life properties into the metaverse is also an enticing prospect for brands that view metaverse platforms as an experimental marketing channel, allowing them to bring tried-and-true IP into their virtual activations instead of designing them from the ground level. This was part of the strategy behind the recent Tonight Show activation in Fortnite Creative, which was designed in collaboration between NBCUniversal and Samsung. “We’re looking at it holistically — how do we find fans in new ways, and use IP that fans love in new ways?” said NBCU president of advertising and client partnerships Mark Markshall.

Since opening on Sept. 14, iHeartLand has already enticed over 1.5 million Roblox users to visit. The company aims to retain that attention with a schedule of virtual programming featuring popular musicians and personalities.

“At our core, we are essentially an influencer network; our broadcast talent are some of the most connected, most engaging influencers at work in media today,” said Conal Byrne, CEO of iHeart Digital Audio Group. “That gives us this sort of superpower, to be able to go into new-ish platforms, like Roblox or Fortnite, because we talk to our listeners through those influencers.”

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Ashley is a professional writer and editor with a strong background in tech and pop culture. She has written for high traffic websites such as Polygon, Kotaku, StarWars.com, and Nerdist. In her off time, she enjoys playing video games, reading science fiction novels, and hanging out with her rescue greyhound.

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Tesla finally delivers its first production Semi

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Tesla finally delivers its first production Semi

Five years after CEO Elon Musk officially unveiled his Semi, Tesla’s electrified tractor trailer, the company delivered its first official production vehicle to Pepsi on Thursday during its “Semi Delivery Event” held at Tesla’s Nevada Gigafactory. The beverage maker has ordered 100 of the vehicles in total.

First shown off in 2017, the Tesla Semi originally was set to retail for $150,000 and $180,000 for the 300- and 500-mile versions, respectively. Those prices are significantly higher than the $60k a standard diesel cab runs but Tesla estimates that its vehicles can operate 20 percent more efficiently (2kWh per mile, Musk revealed Thursday), and save up to $250,000 over the million-mile life of the Semi.

Each rig is “designed like a bullet,” Musk said at the vehicle’s unveiling, and would come equipped with a massive 1MW battery pack. This reportedly offers a 20-second 0-60, which is impressive given that these vehicles are towing up to 80,000 pounds at a time, and a spent-to-80 percent charge time of just 30 minutes. The Semis are also outfitted with Enhanced Autopilot capabilities, as well as jackknife-mitigation systems, blind-spot sensors and data-logging for fleet management.

As reservations opened in 2017, Musk said at the time, deliveries would begin two short years later, in 2019. By April 2020, Tesla had officially pushed that delivery date back to 2021, citing production delays and supply chain issues brought on by the COVID-19 pandemic. However, just two months after that, in May of 2020, Musk sent a company-wide email reading, “It’s time to go all out and bring the Tesla Semi to volume production. It’s been in limited production so far, which has allowed us to improve many aspects of the design,” as seen by CNBC. In the same email he confirmed that production would take place in Tesla’s Nevada Gigafactory.

Cut to July, 2021, and the new delivery date has been pushed again, this time to 2022, citing both the ongoing global processor shortage and its own pandemic-limited battery production capability for the new 4680 style cells as contributing factors.

“We believe we remain on track to build our first Model Y vehicles in Berlin and Austin in 2021,” Musk said during the company’s Q2, 2021 investor call. “The pace of the respective production ramps will be influenced by the successful introduction of many new product and manufacturing technologies, ongoing supply-chain-related challenges and regional permitting.”

“To better focus on these factories, and due to the limited availability of battery cells and global supply chain challenges, we have shifted the launch of the Semi truck program to 2022,” he continued. Beginning in May of this year, Tesla started actively taking reservations again for a $20,000 deposit. “And first deliveries are now,” Musk said on Thursday before welcoming Kirk Tanner, CEO PepsiCo Beverages North America, and Steven Williams, CEO PepsiCo Foods North America, on stage for high fives and handshakes.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission. All prices are correct at the time of publishing.

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