Video game adaptations are finally winning at the box office, debunking the long-standing Hollywood belief that they're doomed to fail. The recent success of films like Sonic the Hedgehog, Uncharted, and Super Mario Bros., as well as TV shows like The Witcher and The Last of Us, indicates that the era of video game adaptations is taking off, with the potential to outpace comic book movies in popularity.
What's new:
The Super Mario Bros. movie has set the record as the highest-grossing video game adaptation, raking in over $400 million in its opening week. This smashing success reflects a broader trend of video game adaptations gaining traction, with strong box office results for Detective Pikachu, Sonic the Hedgehog 2, and high viewership for HBO's The Last of Us.
Why it matters:
The growing success of video game adaptations reflects a shift in audience preferences, as they seek simpler pleasures and the nostalgia of classic games. The combination of improved storytelling in video games and a thirst for escapism has led to a surge in adaptations that are more accessible and appealing to audiences than some complex comic book franchises.
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Small But Mighty: Nano-Influencers with Under 10,000 Followers Monetize Their Instagram Content
Credit: Business Insider
Despite their smaller audiences, nano-influencers (those with fewer than 10,000 followers) on Instagram are successfully monetizing their content through brand deals, user-generated content, and affiliate marketing. They are leveraging their niche audiences and high engagement rates to secure sponsorships and build businesses in various sectors.
What's New:
Nano-influencers on Instagram, such as Stacy Kim, a travel and fashion influencer with around 3,000 followers, are turning their smaller audiences into profitable businesses. By focusing on high engagement rates, they can attract brands who value genuine interaction over sheer numbers.
These creators are using resources such as media kits, direct messaging templates, and applications for brand partnerships to approach companies and secure sponsorships. Platforms like Instagram, TikTok, and third-party influencer-marketing firms also offer creator marketplaces and affiliate marketing opportunities for these smaller influencers.
Why It Matters:
The success of nano-influencers demonstrates that a large following is not the only prerequisite for monetizing content. This trend empowers content creators with smaller, more specialized audiences to build a business and create a sustainable income. It also offers brands the opportunity to tap into niche markets and connect with highly engaged audiences, potentially leading to more meaningful partnerships and higher conversion rates.
Why You Should Care:
As a stakeholder in the social media and influencer landscape, understanding the potential of nano-influencers can help you stay ahead of industry trends and capitalize on the benefits of working with these smaller but highly engaged creators. This can lead to new business opportunities, more targeted marketing efforts, and better return on investment in influencer partnerships.
Fashion Brands Persist in Metaverse Ventures Despite Decreased Attendance at Decentraland's Metaverse Fashion Week
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Despite a significant drop in attendance at Decentraland's second annual Metaverse Fashion Week, major fashion brands continue to invest in the metaverse, targeting younger audiences and capitalizing on the potential for growth and revenue generation.
What's New:
This year, Decentraland's Metaverse Fashion Week saw a 74% decrease in unique visitors, dropping from 100,000 to 26,000. Nonetheless, major fashion brands, including Tommy Hilfiger, Adidas, and Dolce & Gabbana, remain committed to exploring the metaverse.
Why It Matters:
Fashion brands are tapping into younger demographics and finding financial success in the metaverse. For instance, Gucci's partnership with Yuga Labs, the creators of the Bored Ape Yacht Club NFT collection, led to a 237.34% increase in trading volume from the previous quarter, reaching $222 million in Q1. Additionally, Yuga Labs dominates the NFT fashion industry with a Q1 trading volume of $15,314,672.
Why You Should Care:
The continued involvement of fashion brands in the metaverse, despite setbacks, highlights the potential for growth and revenue generation within virtual worlds. In Decentraland's Metaverse Fashion Week, users spent approximately $26,000 on wearable skins and claimed about 76,000 free wearables. While these figures may seem insignificant compared to annual revenues of major fashion brands, they illustrate the potential of virtual worlds to reach younger audiences.
As the gaming industry's value surpasses $300 billion, digital fashion houses that venture into the metaverse could present unique opportunities for industry professionals to engage younger audiences and showcase their innovative designs. The persistence of metaverse fashion designs suggests that the current decrease in enthusiasm for the metaverse may be temporary rather than a lasting decline.
Snap Inks Deals with Music Labels to Bolster Sounds Library for Snaps and Stories
Credit: TechCrunch.com
Snap has secured agreements with multiple music labels, including UnitedMasters, BUMA/STEMRA, and SUISA Digital Licensing AG, to enrich its Sounds library. This expansion allows users to incorporate a wider variety of song clips in their Snaps and Stories, fostering creative expression and music discovery for Snapchatters worldwide.
What's new:
The new partnerships bring a selection of works from artists signed with UnitedMasters, as well as sounds from local artists in BUMA/STEMRA and SUISA Digital's libraries. Ted Suh, Global Head of Music Partnerships at Snap, expressed excitement about expanding the Snapchat Sounds experience and continuing to build relationships within the global music industry.
Why it matters:
Snap's Sounds library expansion demonstrates the company's commitment to providing users with diverse musical options for their Snaps and Stories, enhancing the overall creative experience on the platform. The deal also strengthens Snap's position as a key player in music discovery, following the debut of its Sounds product in 2020 in response to TikTok's growing popularity as a music discovery platform.
Why you should care:
For emerging artists working with UnitedMasters, the partnership offers eligibility for grants through the Sounds Creator Fund. This program, launched last year in collaboration with DistroKit, awards up to $100,000 per month to budding musicians. It also provides creative support to artists in establishing relevancy with their audiences. As Snap continues to sign deals with major labels, its library will grow, increasing competition for the 20 spots available in the Sounds playlists, which feature popular licensed songs for users to include in their video clips.
This development highlights Snap's ongoing efforts to enhance its platform and engage users through diverse creative tools and content, offering creators and music lovers alike more opportunities for expression and discovery.