Content Creation by Influencers Adding to Demand for Studio Space

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by Jacob Solomon Mar 9, 2023 News
Content Creation by Influencers Adding to Demand for Studio Space

ROW DTLA is an office and retail property in Downtown Los Angeles owned by Atlas Capital Group.

Americans are spending a lot of time on digital content. Five consecutive years of growth have been marked by the Consumer Technology Association's estimate that consumers will spend over $150 billion on technology services in the next five years.

Television and film production is being increased to meet this demand. A shortage of studio and sound stage space in Los Angeles has been caused by the increase in content creation.

The market for digital content is larger than that for television and film production companies. Social media is an important part of content consumption around the world. The social media content market is expected to grow at an annual rate of 12 percent over the next 17 years.

Brands are using social media to promote products, facilitate sales, increase conversion rates, and drive traffic to the main website, and they need to produce a lot of daily content as part of the standard business model. Dedicated space for content creation is being leased by brands.

Retail revenue is driven by social media content.

Social media platforms are used to advertise. 95 percent of working age internet users visit a social media platform every month, giving brands access to consumers. Incentivizing retailers to develop a cohesive social media marketing strategy is one of the reasons why nine in every 10 shoppers buy from brands that they follow on social media.

Strong sales are supported by these strategies. Retailers with both branded content and day-to-day campaigns increase content views by 87 percent, improve click-through rates by 40 percent, and increase the likelihood of conversions according to research from Meta for Business.

Producing a lot of timely material is required for a scaled social media strategy. One of the top challenges for marketers is content creation. A studio space is required for the strategy to work. The studio market for social media content has been fragmented, with mostly mom-and-pop ownership or marketplaces like Peerspace, but institutional owners are starting to see value in this demand segment.

As a result of how we consume content and the demand for more content, we're seeing the demand grow from needing space for one- to two-day shoots to a long-term need for space It's an office requirement for some brands. There is a need in the market.

The movement is still in its early stages. According to the Interactive Advertising Bureau, social media advertising is expected to grow by 6 percent this year. According to Yi, one-third of brands expect to increase social media marketing efforts. More and more companies will enter the production space market to meet the demand for content and to reach their target audience with the growing use of social media. The brands need to keep up with the demand.

Social media expansion is one of the key trends this year.

A key trend this year is the expansion of social media, according to the report. In a crowded online retail marketplace, it has become an opportunity for brands to compete.

Being in the studio space.

Retailers will need to find a studio location in Los Angeles because there is not enough quality production space there. Many large entertainment companies are locked up with long-term leases and pay a premium for those spaces. The Hollywood Reporter reported that costs for studios were up last year.

Retail spaces are being transformed into production studios for online retailers. Yi said that companies are looking for spaces with high ceilings. ROW DTLA, a mixed-use office and retail property in Downtown Los Angeles owned by Atlas Capital Group, has several tenants using space for social media content production.

There is a lot of potential here. In order to drive business revenue and expand market share, a diverse mix of brands, both direct-to-consumer and omnichannel retailers, need to create content. Property owners are open to other uses, such as filming and studio locations, because of the excess retail and office space caused by the Pandemic. The New York Times reported in December that Midtown Manhattan office buildings were partnering with a company to convert vacant floors into office space.

There is a balance that needs to be struck here. Social media studios show the broadscale of new retail uses and user profiles. Landlords can support retail tenants both offline and on. ROW carefully selected this mix to provide public facing retailers and support alternative uses.

One in five retail sales will be made online in the next five years. Online retailers use social media to engage with customers, build loyalty, and ultimately drive revenue. The social media content studio is a requirement for online retailers.