The Entertainment Value Curve: How NewsPicks Can Learn from TikTok and Quibi's Mistakes

The Entertainment Value Curve: How NewsPicks Can Learn from TikTok and Quibi's Mistakes

NewsPicks, a unique and community-centered media platform, has recently gone public. As a platform that aims to stimulate the creativity of its writers and gather exceptional articles and comments, NewsPicks has set its sights on becoming the next generation of media. In order to achieve this, NewsPicks has outlined three key principles for its community: to be a space where responsible opinions converge, to encourage writers, and to be a driving force for societal change.

Meanwhile, the success of mobile video apps is not solely based on the viewing experience but also on the social experience they offer. TikTok, a wildly popular app, has capitalized on this concept, while Quibi, a highly anticipated platform, failed to do so. The difference lies in the Entertainment Value Curve, a framework that combines production value and social value to generate an efficient product-market fit.

On the Entertainment Value Curve, social value is determined by the level of personal connection viewers have with the content, while production value refers to the quality of the content relative to the highest quality in its genre. By understanding this curve, we can analyze how different platforms succeed in delivering entertainment value to their users.

Snapchat, for example, focuses on low production value but high social value. Its AR lenses allow anyone to create fun content, fostering a strong connection between creators and viewers. Instagram, on the other hand, has increased its entertainment value by lowering the production bar and making lower quality content easily accessible through IG Stories and now Reels. The Explore feed further enhances social value by featuring higher production value content with some personal relevance.

TikTok takes the concept of topical content first and socially connected content second, allowing users to engage with both high production value and personally relevant content. YouTube, similar to TikTok, provides a platform for content creators of all production levels, but with a broader range of content options. Netflix, however, focuses on high production value, limiting the number of elite Hollywood creators who can meet their standards.

To measure social value, we can look at the creation participation rate, which measures the percentage of users who create content. Platforms with higher creation participation rates indicate a higher likelihood of connection between creators and viewers. For example, Instagram's IG Stories team had a goal metric of creation participation per daily active user (DAU), encouraging more users to create and consume content.

The downfall of Quibi can be attributed to its failure to optimize the Entertainment Value Curve. While it added format, length, and viewing constraints, it did not supplement those constraints with increased social value. Quibi mistakenly believed that "short" was the feature users desired, while in reality, they craved shareable and social content.

TikTok, on the other hand, understood the importance of snackable media as social media. Its design breaks down the barrier between the audience and the creator, fostering engagement and conversation. The TikTok algorithm also gives new content a chance at virality, leveling the playing field for creators and reducing the production gap.

So, what can NewsPicks learn from the successes and failures of TikTok and Quibi?

1. Prioritize social value: NewsPicks should focus on fostering a strong connection between writers and readers. Encourage discussions, comments, and interactions to build a sense of community and increase social value.

2. Lower the production bar: While maintaining quality standards, NewsPicks can make content creation more accessible to a wider range of writers. This will increase the number of creators and enhance the platform's entertainment value.

3. Embrace snackable media: NewsPicks can explore shorter, more shareable formats to cater to the changing preferences of users. By allowing for easy consumption and conversation, NewsPicks can tap into the engagement loop that drives entertainment value.

In conclusion, NewsPicks has the potential to thrive by understanding the concept of the Entertainment Value Curve and applying the lessons learned from both TikTok and Quibi. By prioritizing social value, lowering the production bar, and embracing snackable media, NewsPicks can create a unique and engaging platform that resonates with its community.