The Business of Attention


Every video you watch on YouTube is
worth anywhere between point zero zero six to point zero one five dollars or
six thousand to fifteen thousand dollars per million views. Every ad you click
on Facebook is about point zero zero six dollars or six thousand dollars per
million clicks and sixty seven hundred dollars on Instagram. Where is all this
money flying from? Hello and welcome to this episode of interested. Today we will
dive deep and see the business of attention; yours, mine, and almost every
internet users. Don’t forget to subscribe to our YouTube channel and click on the
notification bell to be part of our notification squad. Last year the social media
giant Facebook reportedly made fifty five billion dollars in its yearly
revenue or around twenty five dollars from each of its two point two seven
billion users worldwide; while the owner of the biggest search engine, Google, made
four point seven billion dollars just from the news industry say the New York
Times and other sources. So the business of ads is a guaranteed stream of income
it’s not only these companies however that make a butt load of money from
running ads. The list goes on to include bloggers, Instagram models, and YouTube
creators. A you tuber with a million subscribers is known to make somewhere
around fifty seven thousand dollars annually and big influencers on
Instagram make anywhere from three million to eight million dollars. With the
highest-paid Kylie Jenner making an average of four million dollars for
every sponsored post on Instagram. All this money that most of us could only
dream of actually comes directly from us. To be exact, our attention pays their
bills. In 2012 Internet entrepreneur Steve Jelley coined the term attention
marketing that took over the then widely used internet marketing. The difference
is simple. To attract consumers, companies that use internet marketing would simply
post their ads on specific websites for everybody who visits the site to see
it. Then came the rise of social media and their ability to effectively collect our
data. When Facebook, Twitter, and Pinterest came to a have enough of our data to know what
interests us and what doesn’t, they had the power of shifting the entire business
model of advertisement – thus attention marketing. Channeling the attention of
a consumer by capturing their attention instead of interrupting it. What this
means is, instead of disturbing your attention and interest in the platform
with an ad that you are unlikey to be interested in, an ad that will capture attention is
sent specifically to your feed. Facebook reported over
two point to seven billion monthly users and YouTube over 1.8 billion in 2018.
Meaning a company can reach a targeted number of customers from over a billion
people. This is where your attention comes into play –
what takes your attention most, sells you most and whichever social media showed you
the ad gets a bite of the cake. This whole system is tailored to be a win-win
for both product seller and the platform. The seller gets an audience
that is highly likely to buy and the platform gets your interrupted attention
to show you more of what you love; making your attention and mine the most valuable
asset on the internet. With attention marketing, social media companies have
destroyed barriers between content, distribution, and marketing. But the war
for your attention between technology companies has come so far to make you
a screen addict. A study by global tech protection and
support company, Asurion, showed the average person checks his or her phone
every 12 minutes. On another study done on same topic, 11 percent of the
respondents admitted to checking their phone in a funeral and 7 percent during
sex; while 80 percent admitted to double screening. How often do you check
your phone? write your answers in the comment section below. As we said earlier
social media is addictive. Like all adictions it is known to have effects of destroying
relationships, costing you money, and, most of all, your precious time. For teenagers
who are self conscious in many ways the drama of like, unlike, comments, and
being unfriended has so much effects to the point it traumatizes them and makes
them fall under Depression. And in genera,l people that spend more time on
Facebook are more likely to be depressed than those who spend less or no time on
Facebook. According to statistic.com and other sources, smartphone users are
estimated to reach as whopping 2.5 billion by 2019 and total social media
users, three point four eight billion. Even if we forget all these problems, the
idea of one person or even a hundred controlling the way billions of people
see, think, and feel is extremely dangerous. Here are interested we try to stay
neutral about debatable issues. We are simply interested on the issue that we
research so hard to make you this video but when tech icons like Bill Gates, Mark
Cuban, and Steve Jobs raise the kids somewhat tech free or speak against unlimited tech time, anybody would think something’s fishy.
So here are some simple solutions that can be applied to address the problem
that is the stealing of our attention and being unwillingly driven by tech
companies. One is setting limit to your screen time by Apple’s new screen time
activity dashboard or Google’s wind down. You can also gray-scale your screen so
that your attention is not stolen by colorful apps, and also set
notifications off for social media apps. more can be found on time well-spent
website, a movement for better and humane designs of technology products.
Co-founded by Tristan Harris who also co-founded Center for humane technology. Thank you for watching this video and don’t forget to give this video a thumbs
up if you like it. Also don’t forget to share this video and subscribe to our
Channel. See you next week in another interesting
topic, and as always stay interesting!

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About the Author: Oren Garnes

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