attention is greater than the cost of advertising, and can this be supported by concrete attention equation metrics? Can the industry bring advertising to high-attention mediums, such as digital books and video games, without affecting the consumer experience? Creators and distributors Creators and distributors (for example, IP owners; film, TV, and live-event producers; musicians and authors; publishers and video platforms) face the same fundamental question: How do we produce and present content that effectively competes for consumers’ attention across a wide variety of media categories? As the landscape becomes increasingly crowded and sophisticated, content creators and distributors have turned to tracking, research, and experimentation to find an answer. Metadata tagging provides companies with a deeper understanding of what’s created, complex algorithms better match consumers to content, and platform analytics deliver real-time insight into who consumers are and what they want. The attention equation presents an additional factor to augment existing tools and help creators and distributors make more informed decisions. What follows are some key questions to consider when integrating attention into production, distribution, and investment decisions: — Using attention to augment content strategy . Where does it make sense to be exceptional at a certain type of attention and job to be done or to build a portfolio that works to fill every consumer need? How can attention be factored into content creation, acquisition and recommendation models and capital allocation—and how can distributors measure performance by the quality of attention it attracts? — Attracting the right blend of consumers and advertisers and programming for them appropriately . How can creators and distributors tailor content to existing attention segments while also attracting new ones? How can they bring in the right advertisers, where relevant? What additional distribution opportunities are undervalued when taking attention into account? The competition for consumer attention has long been measured by the size of the audience and the amount of time spent. This view misses the full story. The attention equation helps clarify what the winners in that competition have intuited: Quality and relevance, not just quantity, of attention goes a long way in determining success. In a media environment defined by abundance, fragmentation, and distraction, valuable attention—driven by focus and intent— is the objective function. The attention equation can help leaders measure their consumers’ attention more accurately so that they can more effectively match content to context, better understand their consumers, and invest in and monetize the most valuable attention for them. Media players have long approached consumers’ attention with too narrow a view; those that focus on its true value will be best positioned to win the attention of consumers for years to come. Building a future on attention 22 The ‘attention equation’: Winning the right battles for consumer attention