erika nardini north star podcast david perell

Authenticity, Media, and Memes | Erika Nardini on The North Star Podcast with David Perell

Check out the North Star Podcast Episode Page & Show Notes

Key Takeaways

  • Media companies at their core are still content companies in this era of media distrust
    • “What I think has changed is how much people care, and how much their opinions and their time used to be spent, and the authority given to media companies”Erika Nardini
  • People pay for premium content for the content itself and connection to the creator, not for studio lighting and animations
  • The formation of relationships between content creators and their audience is still in its infancy
    • “What I think is so interesting about personalities on the internet is, first of all, those relationships are deep. When people have their favorite person on the internet, especially with YouTube and video, those relationships are real and they’re raw.” – David Perell
  • “I think the brands who trust creative people to honor their brand and to take it to a new place that appeals to their fans are the brands who will win” – Erika Nardini
    • The number one gripe creators often have with their employers are the limits on how and what they can create
  • How media companies use audience data to give the fans what they want will be one of the most important factors for success in the future
    • It’s not about data for data’s sake, but data as a metric for how well your content resonates with your audience
  • Some important questions for companies on social media:
    • How often should we post?
    • Which accounts are growing and declining?
    • What types of content appeals to different consumers?
  • The old rules of marketing don’t apply anymore
    • People can simply scroll past your post or fast-forward through ads

Intro

What does it mean to be a media company today?

  • “Media companies at their core are content companies”Erika Nardini
    • “What I think has changed is how much people care, and how much their opinions and their time used to be spent, and the authority given to media companies”Erika Nardini
      • This shift largely stems from internet decentralization
  • Traditional media companies have primarily focused on distribution and monetization rather than engagement and attention
    • “But now we’re in an era of personality and influence and conversation—content, media, and conversation are all alive”Erika Nardini
  • People pay for premium content for the content itself and connection to the creator, not for studio lighting and animations
    • One Bite Pizza Reviews from Barstool is shot with an iPhone yet it receives millions of views

Company Orientation in Media

  • The best media companies in new mediums (like in the transition to internet from TV) are those that are nimble in operations and cost-effective in content creation
  • The formation of relationships between content creators and their audience is still in its infancy 
    • “What I think is so interesting about personalities on the internet is, first of all, those relationships are deep. When people have their favorite person on the internet, especially with YouTube and video, those relationships are real and they’re raw.” – David Perell
  • Traditional media limits the relationships they can form with their audience by only existing within specific time slots whereas digital media can meet its audience on a variety of personal levels
  • “I think the brands who trust creative people to honor their brand and to take it to a new place that appeals to their fans are the brands who will win”Erika Nardini
    • “There’s really no limit to the type of product we create so long as it’s authentic and we think it’s on brand and we think our fans would like it”
    • The number one gripe creators often have with their employers are the limits on how and what they can create
  • “I think it’s important that there are brands that come out and say, Look, we have this perspective, and we’re not going to cave in to the whims of people who want us to be just average” – David Perell

Audience Engagement Data

  • How media companies use audience data to give the fans what they want will be one of the most important factors for success in the future
    • It’s not about data for data’s sake, but data as a metric for how well your content resonates with your audience
    • Barstool obsessively tracks engagement data like retweets, comments, and likes 
  • Some important questions for companies on social media:
    • How often should we post?
    • Which accounts are growing and declining?
    • What types of content appeals to different consumers?
  • There is still a lot of important data that can’t be empirically measured like word-of-mouth transmission and brand trust
  • Ads from media companies doesn’t have to be a painful experience (think TV commercials). If there is trust all around it’s a win-win-win situation for the audience, content creator, and advertiser.
  • The old rules of marketing don’t apply anymore
    • People can simply scroll past your post or fast-forward through ads
    • The new rules of marketing will also eventually change as media is continually disrupted

The Future of Sports Leagues

  • The NFL’s need for control limits their brand which will hurt them in the long run, but in the immediate future the NFL will maintain their dominance through superior revenue and cultural foothold
  • “I think the NBA is the smartest, most progressive league out there” – Erika Nardini
  • One of the MLB’s biggest challenge is personality exposure because their top athletes are nowhere near as famous as the top athletes from other leagues
  • The rise of eSports is something to keep an eye on in the future
    • It is far more personality driven than other leagues
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Notes By TD

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