Welcome to the Attention Economy

Mathew Ingram over at Fortune wrote a great article recently about the “attention economy” that we felt compelled to spotlight as it reinforces why Grin Apps exists today. The article spoke about how traditional media companies are losing the consumer to new platforms, like Facebook, Instagram, Twitter and YouTube. See, there’s only so much attention one consumer can give. In the past, that attention would be directed to TV’s or radio. Now, consumers are giving more of their time to social media platforms, as well as other streaming and gaming services, like Twitch or Minecraft. Here’s a great graph from Fortune showing the decline of traditional media since 2008. As you can see, TV, radio and print have declined, while digital/desktop has stayed steady and mobile has increased significantly. Not surprising given that digital and mobile, for the most part, can be “with” the consumer at all times. I mean, how often do you go anywhere without your smartphone? Whether it’s Facebook, Twitter, Instagram or YouTube, old media is in trouble. These new platforms are absorbing more and more of consumer’s time and owning the distribution of content, which means they are now owning the revenue channel. With so much attention now pointed towards these social channels, it’s no wonder more consumers are looking to enhance that experience. That’s where Grin Apps can help. Check out our suite of social companion apps here.