We’ll spend time and energy looking for reassurance instead of focusing on our work and those that we seek to serve. The

Besides, the rise of non-gaming virtual events also contributed to the normalization of moving conventionally offline entertainment experiences to online channels. Dua Lipa’s live virtual concert ”Studio 2054,” for example, garnered over 5 million views on its debut night, breaking the global livestream record, netting at least $60 million in ticket sales. Besides music-related content, live experiences also extend to many other vectors such as cooking, fitness, education, and even travel, forming the foundation for the “Zoom economy.”

[This is the part of a series of posts about The Practice and our opportunity to do work that makes a difference. If you like, please use the comments to start a conversation about how you’re leaning into the work and choosing your skills. When have you cared enough to show up and learn something? For more about The Creative’s Workshop and other Akimbo communities, visit akimbo.com — now a B corp.]

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at first, and you’ll likely think you won’t need a full day to do it, but you’re wrong if that’s what you think. I often find myself not having enough time to reflect on everything in a single day. When I do a Think Day in my physical journal, I often end up writing 30 pages of notes.

[This is the part of a series of posts about The Practice and our opportunity to do work that makes a difference. If you like, please use the comments to start a conversation about how you’re leaning into the work and choosing your skills. When have you cared enough to show up and learn something? For more about The Creative’s Workshop and other Akimbo communities, visit akimbo.com — now a B corp.]

Since then, Fortnite has doubled down by hosting a series of buzzy virtual concerts, including the reality-bending Travis Scott show in April that was viewed by 45 million players, as well as the season-ending Galactus event that took place earlier this week and introduced the relatively obscure Marvel comic character to a record 15.3 million concurrent players. In April, it also launched Party Royale — a separate, fighting-free island within Fortnite that features both a concert stage and a theater space for virtual events.

2020 has been a difficult year for most entertainment brands. The film and television industry is looking at an estimated $160 billion loss over the next 5 years, according to market research firm Ampere Analysis. Numerous sporting events and concerts have been postponed or outright canceled. Disney said the pandemic cost its parks, experiences and products segment around $2.4 billion in lost operating income during Q4. Even with promising vaccines on the horizon, recovery could still be spotty and winding, especially for the theatrical sector where audience behavior may have changed for good.

As a beneficiary of the stay-at-home orders, gaming saw a major pandemic boost in terms of time spent and revenues, as many turned to the virtual worlds of video games for escapism during these trying times. According to a recent report by the NPD Group, U.S. gamers average 14 hours per week playing video games this year, up from the 12 hours per week in 2018. Among them, “heavy players” spend over 15 hours per week on gaming and make up 29% of U.S. gamers, a 6% increase over 2018. The global games market will generate revenues of $159.3 billion in 2020, per Newzoo’s estimation, marking a healthy year-over-year growth of 9.3%. Naturally, the increased consumer attention on gaming helped familiarize a sizable audience segment with the aforementioned virtual events being held in protoverse environments. People hosted virtual birthday parties, weddings, and runway shows in games like Roblox and Animal Crossing: New Horizon.

Together, these virtual events herald the emergence of a metaverse — a continuous and persistent virtual space in which users are free to explore, create, and interact with the environment and each other. A digital third place on steroids, if you will. Although the MMO games cited above are still just “protoverses” and we are still years away before any of them would evolve into a true metaverse, it is interesting to think ahead and start considering the wide-ranging and zeitgeist-shifting implications of such a new platform. This is especially pertinent for entertainment brands, given the platform’s enormous potential for immersive storytelling and interactive world-building.

Of course, Fortnite isn’t the only digital venue owner that’s open for business. Other popular massively multiplayer online games, or MMO games for short, such as Roblox and Minecraft, have also been exploring the potential of evolving beyond its gameplay and becoming a digital third place for people to socialize online and participate in virtual live events together. And these games are already huge platforms: Fortnite reported more than 350 million registered players in May, Minecraft surpassed 131 million in October, and Roblox has 150 million as of July. Notably, more than half of U.S. kids and teens under the age of 16 now play Roblox, and viral star Lil Nas X’s recent live shows in Roblox amassed 33 million views over two days.

The alternative is to embrace that feeling of uncertainty and to refuse to get hooked on reassurance. The future is on its way, our work will ship, and then we’ll see what happens. In the meantime, we’ll keep doing the best work we know how to do.

Although the rise of gaming and virtual experiences theoretically compete with the entertainment brands for the same finite pool of audience attention, it would be short-sighted to see them as new competitors. Instead, players in the entertainment industry need to recognize that these new virtual experiences play a crucial role in shifting consumer expectations and behaviors, preparing the mainstream audience for more immersive experiences in future metaverses. Rather than treating it as an existential threat, entertainment should be actively embracing this attention shift and working to co-opt it as a customer acquisition and engagement channel.

It’s been almost a year since Fortnite’s exclusive Star Wars: The Rise of Skywalker event, where fans got a sneak peek at the movie, played with lightsabers, and danced with director J.J. Abrams’ avatar, all inside the massively popular online game. Reviews of the event were a mixed bag, with some applauding it as a bold step towards the future of interactive entertainment while others finding it underwhelming and blatantly promotional. Regardless, no one could deny that Fortnite and Disney were onto something in their innovative collaboration.

One bright spot may be the growth of streaming service usage, as the lack of live sports earlier this year pushed some households to turn to streaming services. But according to expert estimations, the OTT-dominant model may be a less profitable way to monetize content than the conventional pay-TV model. So there will be a need to figure out new revenue streams to supplement the profitability gap while the industry undergoes a business model shakeup. That’s where the developing metaverse comes in.

If we believe that the future can be controlled (which those that reassure us seek to do) then we’ll start focusing our work on the outcome, not on the best version of what we’re capable of. Worse, we’ll end up trying to make the reassurers happy instead of making something for our true audience.

Entertainment is a sprawling industry that covers a wide range of sectors. Overall, the industry’s offering could be divided into two broad categories: content and experiences. The content side of the business, regardless of format, has been shifting towards digital channels for two decades, whereas the experiences are only starting to shift from offline, out-of-home channels to virtual spaces.