The media and entertainment industry ranks first out of the 10 industries featured in MBLM’s Brand Intimacy COVID Study, a study of brands based on emotional connections during the pandemic – and YouTube is the number one category brand, ahead of even the might Amazon.
MBLM (pronounced Emblem) uses emotional science to build and manage more intimate brands. “While media & entertainment is always a top Brand Intimacy industry, the pandemic has increased consumer reliance and usage, with more people spending time at home and in need of escape and distraction,” explains Mario Natarelli, managing partner, MBLM. “As overall media consumption has grown, so has media sharing, which allowed brands focused on user-generated content like YouTube to significantly improve their Brand Intimacy.”
MBLM’s study reveals that the remaining brands in the top 10 for the industry are Netflix, PlayStation, Nintendo, ESPN, Xbox, hulu and HBO. During the pandemic, daily usage of media & entertainment increased by seven percent. Consumers also increased their reliance on media & entertainment brands, with a 13 percent rise in “Can’t live without,” a measure that determines how essential a brand is to our lives.
Top intimate brands continue to significantly outperform the leading brands in the Fortune 500 and S&P 500 indices across revenue growth, profit growth and stock price during the second quarter of 2020, compared to the second quarter of 2019, according to the Brand Intimacy COVID Study. The percentage differences are significant and indicate the degree to which intimate brands generate millions more dollars in revenue.
The brand study also finds that the media & entertainment industry ranks first in this study, maintaining its position from the 2020 and 2019 rankings. Media & entertainment brands perform better with men than women, and with consumers older than 35.
YouTube, which previously ranked #6, remains the top brand overall and with men, while Amazon Prime remains the top brand for women. Consumer preference for Nintendo and ESPN has increased, whereas preference for Xbox and HBO has decreased. YouTube’s rising performance speaks to its broad appeal, and extensive, user-generated content, an ideal match for our troubling and challenging times.
MBLM also analysed the industry in an article entitled, “Escape & Enjoyment.” The piece looks at YouTube’s growth since the start of COVID, as well as how the launch of new streaming platforms impacted the industry and how brands created an at-home community of sharing throughout the pandemic.