In this blog we will be observing and dissecting the entertainment powerhouse that is Warner Brothers Entertainment, but before we delve into the many facets of this corporation we must take a look at who they are. Where did it all begin, who pioneered this industry leader, and what does this company stand for?
Warner Bros was officially incorporated in April of 1923, although the company claims its original founding was in 1905. The name comes, simply enough, from four brothers (Harry, Albert, Jack, and Sam Warner) who immigrated to the United State and started producing films and started a journey that would start with their first theater, then to their first studio in Hollywood, and would grow over the course of a century into a multi-billion dollar company who currently has 15 consecutive years of over one billion dollars in both domestic and foreign box offices, over 7,400 feature films in the studio’s library, and over 70 television series’ in 2015-2016. Warner Bros Entertainment Inc. is a subsidiary of Time Warner, who also own HBO, Turner Broadcasting System, among other high profile assets.
The customer segmentation of Warner Bros is driven by psychographics of interest to the customers in entertainment which broadly include film, television, video games and merchandise.
In all of these segments the customers value quality entertainment or an escape from the real world. In TV, customers can benefit from shorter forms of entertainment over a longer period of time whereas in film customers can have longer forms of entertainment while adding more value of experience (being able to go to an actual movie theater). Customers who are interested in home entertainment have the benefit of a more interactive experience and easy accessibility. Customers interested in merchandise benefit from consumer products such as clothing, toys, games, etc.
All of the segments learn about their market through advertisements on television, social media and word of mouth. However, with Netflix and Hulu people are less exposed to advertisements in the entertainment industry. In merchandise, many of the products are marketed in newspapers and magazine advertisements often showing sales or discounts. In film and television, there are trailers and previews that are shown in commercials. In addition, they are advertised through social media (facebook, twitter, instagram), promotion by celebrities in social media and word of mouth.
Great article on customer segmentation and targeting! It's fascinating to see how businesses can effectively reach their target audience by understanding their unique preferences and needs. Implementing customer segmentation strategies can truly optimize marketing efforts and drive better results. Thank you for shedding light on this important topic.
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