NOT ONLY IN THE MOVIE – THE BLOCKBUSTER EFFECT IN SOCIAL NETWORKS
The blockbuster effect is one of the dominant factors in the dynamics of digital content distribution on various platforms, from streaming services to social networks.
In 2006, Matthew J. Salganik, Peter Sheridan Dodds, and Duncan J. Watts conducted a groundbreaking study called "An experimental study of inequality and unpredictability in an artificial market for cultural products".
The purpose of the experiment was to study the influence of social factors on the popularity and success of products in the cultural products market, such as songs, books or films.
The experiment was conducted on a specially created website, where participants were asked to listen, rate and download songs by unknown authors. The site was divided into several markets: “independent” and markets with a “social factor”.
In the study, Salganik and his team created an artificial "music market" in which more than 14,000 participants uploaded previously unknown songs, with or without knowledge of the previous participants' choices. This market was divided into several "worlds", each of which was independent of the other.
Independent market
In the independent market, participants could only see artist names and their songs. They could listen to them, rate them and decide whether to download them or not. They had no way to see the actions of other participants: how they rated the music or how often they downloaded songs. That is, the choice of participants in this market was guaranteed to be independent. This provided a control scenario demonstrating how individual preferences work when choices are not influenced by other people's opinions.
Markets with social signals
Social factor markets were divided into eight separate "worlds", each of which began with the same initial conditions.
In these "worlds", participants could see how many times a song had been downloaded before making their own decision. This scenario replicated a real-life situation where consumers often know how popular a product is before deciding whether to consume it.
The results of the experiment were amazing. When participants could see what others had downloaded, they were significantly more likely to choose popular songs and ignore less popular ones. Songs that were initially popular became more popular, and those that were initially ignored remained so, although they also enjoyed equal popularity in the independent market. This showed how social influence can create a snowball effect leading to a small number of “hits” or “blockbusters”.
In the independent market, in the absence of social influence, the distribution of song success followed a typical pattern. A number of songs hadABOUTgreat success, and there was a significant degree of uniformity of ratings in the distribution. The most successful songs were usually liked by the majority, while the least successful songs were not successful.
At the same time, two striking features emerged in social impact markets:
Increasing inequality: the most popular songs were much more popular and the least popular songs were much less popular than in the independent conditions. In other words, a small number of songs dominated the market.
Increased unpredictability: predictability of success was significantly reduced in the social influence condition. While the "best" songs were never very bad, and the "worst" songs were never very successful, almost any other outcome was possible. The same song could become a hit in one world and an absolute failure in another, which emphasizes the high role of random events in determining the degree of popularity of works.
The study demonstrated the role of social factors in the blockbuster phenomenon, which is characterized by the dominance of a few objects or persons depending on the initial conditions, with a reinforcing effect of early success. Thus, social influence shapes the market for cultural products, and contributes to inequality and unpredictability in the dynamics of their appreciation and, ultimately, their success.
Although the study was conducted in a synthetic music market, the findings have broader implications for understanding success and popularity in various fields, including social media, e-commerce, and other digital platforms.
Additionally, the study found that when social influence was part of the equation, it was difficult to predict which songs would become hits. The same song can be a hit in one world and a flop in another, showing that initial conditions and chance can greatly influence what becomes popular when social influence comes into play.
At its core, the blockbuster effect works based on three interrelated mechanisms: the Pareto principle, network effects and promotion algorithms in social networks.
Pareto principle: Also known as the 80/20 rule, this principle suggests that a small proportion of causes are responsible for a large proportion of effects. When applied to digital media, he argues that a small number of creators or pieces of content are responsible for the majority of views, shares, and overall interaction.
Network effects: The blockbuster effect is enhanced by network effects. As more users interact with a piece of content or follow a particular influencer, their actions become visible to others in the network, driving even greater engagement. This snowball effect can lead to a rapid rise in popularity of certain content or its authors.
Algorithmic promotion: Modern digital platforms use complex algorithms to determine what content to show users first. These algorithms are typically designed to maximize user engagement and often favor content that has already proven popular. As a result, content that starts to gain traction can quickly become a “blockbuster” as more and more users promote it.
The blockbuster effect helps attract users and increase revenues of digital platforms; a number of it should also be taken into account important negative consequences:
Content homogenization: as creators understand what content works best, there is a risk that they will start creating similar, “safe” content, resulting in a lack of diversity and originality on the platform.
Inequality among creators: The blockbuster effect can exacerbate inequality among content creators, with a small number of “star” creators receiving the majority of followers, engagement, and revenue, while other perfectly good content goes unnoticed.
Spreading misinformation: Sensational or controversial content often receives a lot of attention, which makes it more likely to be promoted by platform algorithms and can lead to the rapid spread of misinformation.
Advertiser influence: As platforms and creators strive to create blockbusters, they attract advertisers, who in turn can influence the content of their content, compromising their creative freedom and authenticity.
Thus, the blockbuster effect is a powerful force shaping the dynamics of digital media platforms. It works through mechanisms that increase the visibility and influence of popular content and creators, driving high levels of user engagement and offering lucrative monetization opportunities. However, this also poses several challenges that require attention and must be taken into account to ensure a diverse, equitable and trustworthy digital media landscape.
The blockbuster effect has a significant impact on how companies, brands and individual creators approach their social media strategies. These strategies must adapt to a situation where a small percentage of content dominates attention and engagement.
Below are some recommendations for creating a successful social media promotion strategy:
1. Focus on virality:
Considering that a small amount of content can attract the lion's share of attention, creators need to create content with viral potential. This means creating content that is easy to share, appeals to a wide audience, and addresses current trends or current discussions. While virality is difficult to predict or guarantee, focusing on these elements can increase your chances of success
2. Partnership with popular influencers:
Since social media is dominated by a small number of influencers, partnering with these influencers becomes an important part of a brand's social media strategy. Influencers can reach larger audiences, increase awareness of a brand's content, and increase its reach and engagement.
3. Content diversification:
While the blockbuster effect can drive certain types of content, it's also important for a brand not to put all its eggs in one basket. It still needs to cater to niche audiences and experiment with different content types and formats. Diversification can also increase the chances of creating a piece of content that suddenly becomes a blockbuster.
4. Analytics and adaptation:
Given the fickle nature of what becomes a hit, constant monitoring of analytics becomes critical. Brands must remain flexible and willing to adapt their strategies depending on what content works best. They must also be open to adjusting their strategies based on changing trends and audience behavior.
5. Quality and authenticity:
Despite the need to create viral content, it is imperative not to compromise on quality and authenticity. Today's audiences are discerning and value information that provides value, tells a story, or authentically represents a brand's identity. Quality content, even if it doesn't go viral, helps build a brand's reputation and promotes long-term audience loyalty.
6. Pay-to-Play Strategies:
Given that organic reach can be difficult due to the blockbuster effect, companies should consider paid promotion strategies. Sponsored posts or advertisements can help ensure that a company's content is seen by its target audience.
In conclusion, while the blockbuster effect poses challenges, by understanding its dynamics, companies and creators can develop a comprehensive social media strategy that increases their chances of breaking through the media noise while maintaining their authenticity and connection with their audience.
English 
Русский