The Rising Power of Social Media

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This blog post was written by Jamee S., a senior at Virginia Tech and a communications intern at GillespieHall.

Ever since word got out that Instagram was purchased by Facebook for a whopping $1 billion, the countdown began for when Facebook would take over the world.

Based on an article by ABC, it seems that day may be close.

Executives like Ari Emanuel, co-CEO of the William Morris Endeavor Agency, are already being influenced by Mark Zuckerberg and the Facebook team. According to Emanuel, movie production can now be financed solely through the king of social media, Facebook.

But what movie could have a fan base large enough to generate enough cash to cover its total production cost? Movies aren’t cheap to make: according to a recent article in the HuffingtonPost, the production budget for an average film in 2011 was $78 million.

Based on that statistic, if $100 dollars were collected from each Facebook fan, an average movie would need 780,000 avid and loyal fans to contribute to the pot.

Emanuel believes that is entirely possible. Social metrics show that between the television show and movie, “Friday Night Lights” has over a million fans or “Likes” on Facebook. Is this a large enough fan base to fund the entire movie’s budget?

Emanuel even threw the new kid on the social media block, Pinterest, into the social media world-takeover team, stating “those that donated could have access to the script or storyboards on Pinterest.”

If Emanuel is right and the world is in fact being taken over by Facebook and other social media, contact GillespieHall and we can get you started on understanding or better understanding social media.

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