UNDERSTANDING THE VALUE OF ENTERTAINMENT


Entertainment value is experiential. The rationale for conducting research on
experiential value relates, in the first place, to the significance of the economic context.

The “experience economy,” according to Pine and Gilmore (1999), is the new economic age where consumption experience is the key to future economic growth for practically all kinds of businesses. Innovative organizations were quick to link entertaining experiences with the creation of consumer value.

Consequently, if entertaining experiences were designed and offered traditionally by show business (entertainment experiences), they are now increasingly offered by firms in traditional manufacturing and service industries (entertaining experiences).

In fact, over the past few decades, the number of entertainment options has exploded to encompass numerous new experiences (Pine & Gilmore, 1999; Sayre & King, 2003).

Factors on both demand and supply can explain this noticeable growth. There
is, first, an increase in work productivity, which could translate into potentially more leisure time available, as well as disposable income that could be spent on leisure, recreation, and entertainment goods and services.

Let me say yeebia.com.ng is now humortainment.com

Shifts in demographics and values and lifestyle patterns translate into corresponding shifts in entertainment consumption, including an increase in demand (O’Sullivan & Spangler, 1998; Sayre & King, 2003; Vogel, 2010; Wolf, 1999).

Technology emergence has also played a major role by stimulating demand. The emergence of new media, the Internet, and the adoption and use of broadband created opportunities to design and deliver unique and richer entertaining experiences (Doyle, 2002; O’Sullivan & Spangler, 1998; Pavlik, 1998; Vogel, 2010; Vorderer, Klimmt, & Ritterfeld, 2004).

Entertainment, in turn, becomes a driver of new information technology development and adoption (Bryant & Love, 1996). On the supply side, it could be said, “There’s no business that does not show business” and companies in almost any industry realize that creativity, humor, and play 5can offer them the cutting edge in the marketplace (Schmitt, Rogers, & Vrotsos, 2004).

Such firms enhance their offerings by taking on entertaining, engaging and boundary-breaking initiatives to create value for their customers and/or consumers.

The need to do that is one result of the declining power of traditional advertising, the rise of informed and independent consumers, and the emergence of the experience culture (Schmitt, Rogers, & Vrotsos, 2004).

Deregulation, lower barriers to entry, synergies gained through mergers and consolidations, or efficiencies through divestitures, improved infrastructure (e.g. cable ready), branding — all these are contributing factors that translate into more choices competing for the attention of those who need, want and are able to pay for entertainment (Sayre & King, 2003).

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