Research: The Influence of Shared Joy on Consumption

Barbenheimer was a cultural moment and a future Harvard Business School case study.

According to AMC Theatres, more than 40,000 people purchased tickets to the “Barbie” and “Oppenheimer” films on the films’ shared opening day without any incentive by either production studio. If you had a Venn Diagram to represent the shared values of each film, the circles would not come close to intersection. One film was clever, poignant, and funny; the other was historical, damning, and extraordinarily sad. So what was the driver of such an odd cultural moment of consumption? With the help of Carl Jung and an understanding of the previous months of cultural moments, one may begin to understand how this happened and why it will happen more often.

Advertising can influence the sale, content can influence the sale, but a cultural moment?  I believe that it can shift the conversation from influence to something more persuasive than mere influence alone. Shared joy is more moving than influence and may be the greatest precursor to consumer activity. Five recent events stand up this belief.

Prime Day, Taylor Swift, Mattel’s Barbie, J. Robert Oppenheimer, and Yellowstone’s John Dutton share a place in the American psyche and one particular commonality. On any given day, we are inundated with streaming options, endless choices of what to consume against the backdrop of a uniquely American plague of loneliness. But rarely are we presented with events.

The American consumer of the 21st century is inundated with choices; it’s more rare than ever for shared joy to find its way into one’s daily agenda. An ever-expanding universe of streaming options, blogs, Youtube videos, and social media interactions have led to a veritable bombardment of potential entertainment but fewer events. Yet, amidst this avalanche of choice, what truly captures the public’s attention, and ultimately their purchasing power, are not the standalone options, but rather the shared experiences of consuming events. These include cultural phenomena such as Amazon Prime Day, Taylor Swift’s Eras Tour, The 2023 FIFA Women’s World Cup, the concurrent release of “Barbie” and “Oppenheimer” (Barbenheimer), and even the finale of the television series “Yellowstone”.

In July 2023, we gave our nine year old daughter a choice for her ninth birthday: Taylor Swift tickets for Cincinnati, Ohio or a visit to Disneyland. She chose Disneyland and saved her parents thousands of dollars (Swift resale prices at this point passed $1,800 / ticket with fees).

The Eras Tour is predicted to become the highest-grossing global tour in history, with potential earnings over $520 million. Swift’s work during the pandemic, including the release of multiple albums, energized her fanbase and led to a surge in interest in her tour. And her rerecording of her earlier albums, a move to reclaim her master recordings, widely embraced by her fans, contributed to her rising popularity and influence. She built a consensus around her music catalogue and then leveraged this shaped public opinion into a cultural moment.

Edward Bernays, often referred to as the father of public relations, emphasized in his work “Crystallizing Public Opinion” the importance of shared sentiment in shaping public opinion. These five significant media events of the first half of 2023 perfectly crystallize Bernays’ concept, demonstrating how shared joy in consumption can drive consumerism and / or public movement.

“People are rarely aware of the real reasons which motivate their actions,” Bernays once wrote in “Propaganda.”

This quote alludes to the powerful yet often unconscious impact of shared joy in consumption. People are driven to participate in events like Amazon Prime Day or to watch movies like “Barbie” and “Oppenheimer” often without realizing the powerful psychological forces at play.

Shared joy is a powerful driver of consumption, tapping into the human need for connection and communal experience. When people go to a Taylor Swift concert, tune in for a World Cup match, or anticipate the finale of a beloved TV series like “Yellowstone”, they’re not just engaging with the content; they’re becoming part of a collective moment, a shared cultural experience that transcends the individual act of consumption. This shared joy in consumption is a psychological phenomenon that creates a sense of community, validates individual tastes, and generates a feeling of participation in a broader social narrative.

Take the Barbenheimer phenomenon. Neither of these films, alone, were indifferent in their promotion of the respective projects. Christopher Nolan’s “Oppenheimer” began its brilliant marketing campaign in the summer of 2022.

A year out from release the marketing effort kicked off with the release of a poster that also confirmed the eventual in-theater date. That poster is pretty simple but effective, showing the silhouette of a man (presumably Oppenheimer) standing amid the billowing clouds of a nuclear explosion. Nolan’s name is prominently displayed at the top of the one-sheet, an indication of what Universal feels will be a big factor in attracting audiences. (Cinematic Slant)

And the marketing strategy behind Mattel’s Barbie was nothing less than extravagant.

And together, they amplified one another while highlighting the desire for more “moments” and less entertainment. Entertainment can present a communal moment but not every communal moment is entertainment, for the record. Moments like Barbenheimer present opportunities for communal participation and excitement, as consumers not only look forward to the experience but also enjoy the build-up, discussion, and sense of belonging that come with these events. This anticipation and shared excitement foster a deeper level of engagement, leading to significant boosts in consumption.

Bernays noted that people are more likely to act on their desires and impulses when they perceive that their opinions and actions are shared by a group. This principle underpins these media events. The energy and excitement generated by shared joy in consumption transform them into significant cultural moments, driving sales not just in media consumption but also in related retail areas. This is a hope that Mattel is reliant upon.

The resurgent interest in Barbie offers a boon for Mattel. As fans flock to theaters, shared nostalgia and renewed attention spur an increase in Barbie doll sales, demonstrating the power of media events to drive retail consumption. Our 15 year old didn’t drag her parents to the film, we suggested it to her. She can take credit for making us wear pink, however; arriving at the theater, we noticed that we were far from the only ones.

And consider the synergistic relationship between the Women’s World Cup and Nike’s promotion of the event. The collective excitement surrounding the tournament fuels interest in the sport, thereby boosting the demand for related merchandise. Nike, understanding this dynamic, capitalizes on the heightened attention, promoting its brand and products in conjunction with the event, further driving sales.

The Amazon Prime Day phenomenon provides another compelling example. What began as a sales event within Amazon’s platform has expanded into a broader eCommerce event, with other brands and retailer offering discounts tied to Prime Day. We discussed this in tremendous detail here. This shared anticipation and excitement around the event extend beyond Amazon, driving increased sales across the retail sector.

While the vast array of streaming options and online shopping opportunities offer myriad choices for the modern consumer, it’s clear that what truly captivates and drives consumption are shared experiences. These events offer a sense of community and shared joy that not only drives media consumption but also boosts retail sales.

From Taylor Swift’s Eras Tour to the Barbenheimer phenomenon, from the adrenaline of the Women’s World Cup to the captivating narrative of “Yellowstone,” these media events exemplify the profound impact of shared joy in consumption. By tapping into the powerful psychology of communal experience, these events become cultural touchstones that drive consumer behavior and shape public opinion, perfectly crystallizing the theories of Edward Bernays in the modern world of media and retail.

As we move forward, businesses and media entities must recognize and harness the power of these shared experiences in the post-broadcast era. The future of consumerism lies not just in the sheer quantity of options, but more importantly, in the quality of shared experiences that inspire joy and foster a sense of community.

The landscape of consumerism has evolved. The public’s affinity towards shared experiences, as evidenced by the success of Amazon Prime Day and others mentioned is a testament to the potent psychological impact of shared joy in consumption.

Bernays was the first to shed light on how collective sentiment can stimulate consumption. By creating a sense of anticipation, involvement, and community, these events foster an environment conducive to consumer spending. Indeed, these five events were not just isolated media spectacles but crucial catalysts for commercial activity, demonstrating the immense potential of shared joy in consumption. As businesses and media entities continue to innovate and adapt to consumer behavior, they must take heed of this powerful principle. The future of consumption lies not in the plethora of choices alone but, more importantly, in the collective experiences that bind us all in shared anticipation, excitement, and joy. The celebration of these shared experiences is what truly propels the engine of modern consumerism. Variety Magazine explained:

The cultural craze of “Barbenheimer,” complete with double features of the seemingly different blockbusters with matching release dates, helped to fuel the biggest collective weekend at the box office since the pandemic. More impressively, the box office powered to its fourth-biggest weekend in history with over $300 million industry wide.

Thus, to quote Jeff Goldstein, President of Domestic Distribution at Warner Bros, in reference to the success of “Barbie,” the phenomenon of shared joy in consumption can be summed up: “This historic result reflects the intense heat, interest and enthusiasm for Barbie. This doll will indeed have long long legs.” The film’s influence, reach, and impact on consumer behavior will indeed endure and continue to shape the landscape of global consumerism. And for years to come, studios will attempt to duplicate the moment shared between the father of the atom bomb and Ruth Handler’s 1959 invention for America’s little girls.

These two minds of the last American midcentury, essential in their own ways, met in 2023 to change the course of an embattled film industry (during a difficult time for its many workers). The second order effects of Greta Gerwig and Christopher Nolan’s directorial works provided the grounds to analyze how the two inventors-turned-media IP accomplished what they did – both on screen and off. “Barbie” marked the biggest opening weekend of 2023 and the biggest debut ever for a film directed by a woman. The performance of both films helped contribute to one of the top four largest box office weekends in history, earning over $300 million collectively.

The Swift lyrics almost write themselves.

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Memo: Taylor Sheridan and His DTC Gamble

A former journeyman actor created one of the highest-potential modern brands and online marketplaces of today and he may not have to spend much on traditional advertising or paid marketing at all.

Taylor Sheridan, the creator of Yellowstone, created a multimedia universe like no one in or around Hollywood. With the launch of 6666steak.com (and 6666gritandglory.com), he has a new way to monetize his love for the American west. What better than steaks and beer?

Sheridan is a creative phenom by any measure. The former ‘Sons of Anarchy’ and ‘Veronica Mars’ actor set aside his “failed acting career” to focus on telling tales from the modern American frontier (as he likes to frame it) while sharing those stories through the lens of how the past meets the present. The actor became a real name in Hollywood by hastily writing the screenplay for ‘Sicario’ (2015) in just four months and then having it in production shortly thereafter. He went on to write ‘Hell or High Water’ in 2016. For the former, he earned wide critical and commercial success. For the latter, he received an Academy Award nod for best original screenplay.

Born to a Texas ranching family, Sheridan leveraged his success of his first two films and the third critical success: ‘Wind River.’ The success of the three went on to establish a deal with Paramount Networks to develop a show inspired by the culture and calling he felt closest: ranching. The script that he co-created ended up becoming ‘Yellowstone.’ Widely considered one of the most popular scripted shows, the season five premiere earned 12.1 same day million viewers. No other scripted show has earned over eight million same-day viewers, this season. Sheridan maintains a prolific pace of writing stories on death, revenge, love, grief, and envy. Somewhat Shakespearean in his pace of production and his subject matter, ‘Yellowstone’ has been referred to as “King Lear in a Stetson.”(Collider, 2022).

With Yellowstone’s critical and commercial successes has come other projects; Paramount Network greenlit ‘1883’, ‘1923’, and ‘Yellowstone: 6666.’ Each are spin-offs designed to build on Yellowstone’s success (‘1883’ and ‘1923’ are prequels to the original series). Sheridan has also written ‘Mayor of Kingstown’ and ‘Tulsa King’ as standalone stories – both maintain his go-to themes of death, revenge, love, grief, and envy. Another series based on 19th century African-American lawman Bass Reeves (1883: The Bass Reeves Story) is set to begin shooting principle photography soon.

In five short years, Sheridan has developed an unparalleled film and television media empire. Now, he’s added commerce into the fold. And as you will read, his approach is high stakes.

In a recent conversation between 2PM and a separate, American media CEO: the business leader suggested that his company could launch a new media vertical and then acquire brands that merchandised products that would appeal to the fans of the media company. He wanted to turn viewers into consumers and consumers into customers. His suggestion felt revelatory to him; though it’s been done countless times. But never quite like this. Sheridan’s DTC gamble shares the spirit of this three year old report on linear commerce like few others before it:

The lines of demarcation between media and commerce are fading. For the brands that are most suited to the modern retail economy: media and commerce operations work to optimize for audience and sales conversion. This is the efficient path for sustained growth, retention, and profitability. Brands will develop publishing as a core competency, and publishers will develop retail operations as a core competency.

In that same report, I explained how the 130 year old Michelin star system may be one of the best examples of linear commerce. The principle behind the annual, fine dining publication was that Michelin would sell more tires by giving fine dining aficionados a reason to travel to more restaurants. As the concept went: burnt rubber and memorable dining moments meant more loyalty to (and use of) the Michelin brand of tires.

Over 120 years later and we’re still buying Michelin tires (or tyres, depending on where you’re from). It’s a similar age old problem that Sheridan is seeking to address with 6666steak.com.

Sheridan’s crown jewel, ‘Yellowstone’ is in its fifth and final season. The narrative is at a crossroads with John Dutton III on the verge of losing the legacy that his five-generation ranching family built before him. The finale of the ‘1883’ prequel foreshadowed this issue. An American Indian tribal leader named Spotted Eagle agreed to allow the first-generation of the Duttons to settle on its Montana lands. Spotted Eagle noted that his people would rise up and take it back in seven generations to which the Dutton family patriarch and pioneer responded, “You can have it.”

This season of the show features many of the fifth, sixth, and seventh generations of the Dutton family. In addition to the looming 119 year old omen of loss: there is politics, and social pressures, and the usual drama found on American television. Season five introduced a new focus on the economics of cattle supply and demand. In one scene, John and his daughter, Beth, discuss the astronomical costs of moving his herd of cattle to land away from a festering brucellosis infection that seems to be spreading throughout the herd. She asks him to sell the cows and he replied that a cow is worth $1.50 per pound. His daughter scoffed:

A good steak, she points out, can go for $30. Hamburger is, at worst, $5 a pound. Why is the ranch getting garbage money for its cattle when there’s money to be made in beef?

John replied that he “sells cattle, not beef.” And goes on to explain that his model has worked for over 100 years. In the final season of television’s most popular show, one that will end with a major change, the business of cattle is the focus. Sheridan is intentional about exploring whether or not the Dutton operation can modernize enough to survive in a different (um…DTC) form. According to Beth, maximizing profitability in the cattle ranching industry means going vertical and selling the product of cattle and not just the animals themselves. The lucrative products: loin, rib, brisket, and flank cuts are far more valuable to consumers than the whole of the cattle themselves.

Source: MTV Studios

For fans of Sheridan’s work, this scene was meta at best and cringe at worst. It was native advertising but it broke the fourth wall in a way that was abrupt and desperate. But the advertising worked and here I am writing about an online retail operation that I have watched over recent months. The episode made it clear that Four Sixes Reserve Steak wasn’t an offshoot of the 6666 Ranch business, it was the future of the ranch (and quickly earning Sheridan a return on investment). Beth was intentional in handing over the Macbook Pro screen with the example of going direct on it. It was the direct-to-consumer steak retailer of the ranch that Sheridan finalized the purchase of in early 2022:

The legendary Four Sixes Ranch (often written as the 6666 Ranch) was recently sold for just under $200 million to a group that’s believed to be led by Yellowstone creator Taylor Sheridan. Initial listings show that the owners sought more than $340 million for the 143,000-acre property.

With the acquisition of 6666 Ranch, Sheridan acquired three assets at once: the credibility that comes along with owning a 150 year old Texas ranch, a set for filming shows and movies that require expansive horizons and prairie lands, and a larger canvas upon which to use his vast, creative influence. The closing episodes of the show’s final season will be focused on moving Yellowstone from an aging model to a modern one. While in real life, Sheridan and his team of investors are doing the same for the legendary and historic ranch that he now owns. Yellowstone’s 60 second native advertisement was Sheridan’s first attempt at getting the word out at scale.

The Four Sixes Ranch isn’t Sheridan’s first rodeo (he’s an accomplished horse breeder) but the bet he’s making with this integration between art and retail is one with countless implications. Sheridan is going all in on the cattle raising and marketing business at a time when the industry is rife with turmoil between suppliers, packers, and their consumers.

The Academy Award-nominated writer will be joining NCBA as the keynote speaker for the 2023 Cattle Industry Convention and Trade Show’s opening session. The NCBA is “the voice of U.S. Cattlemen and Women.” Sheridan will be the rare celebrity that walks the convention’s halls but he will be a welcomed presence and his positioning with Four Sixes Reserve means he’s also an advocate for cattlemen of large and small ranches. No one in modern media has shed more light on the culture of ranchers and the “modern west” as Sheridan has. He’s glamorized the industry while casting a bright light on its struggles and sorrows. Sheridan has spent seven years building the credibility required to stand alongside legitimate cattlemen and the organizations (like the NCBA) that advocate for them:

We sit at the intersection of all of these different takes on what to do with the spread that we’ve seen over the last couple years — the disparity between packer margins and producer margins on cattle.

Now, he will try to galvanize them around his real world plans. There is a political risk for Sheridan. At the core of the Four Ranches DTC operation is an effort to address one of the many issues tolerated by producers who drive the American-sourced beef industry. In July 2022, wholesale food distributor Sysco filed a lawsuit against the four companies responsible for processing over 80% of the domestic cattle market according to Food Business News:

Beginning as early as 2015, the meat processors “exploited their market power in this highly concentrated market by conspiring to limit the supply, and fix the prices, of beef sold to Plaintiff in the US wholesale market,” the lawsuit alleged.

JBS, Cargill, National Beef, and Tyson deny any allegations of price fixing. Sheridan’s DTC bet is larger than the traditional narrative of direct-to-consumer success or failure – in some ways, his direct-to-consumer efforts puts him in competition with the four processors. At the NCBA, Sheridan will work to rally the dozens of other cattle-producing and / or processing operations, many of whom are pursuing DTC marketing as opportunities for themselves (here is a growing list).

Sheridan is betting that his media empire and shameless (fourth-wall breaking) native advertising can help suppliers by providing them a new marketing vein to sell more of what they directly supply without the big four who own 80+% of the processing industry. The Four Sixes website all but says this is the case: “We are proud to offer the Four Sixes Ranch Brand beef, which is sourced from a network of ranches, including our own, that meet grading, marbling and tenderness qualifications.”

Sheridan’s final season of ‘Yellowstone’ will explore the business model of DTC meat. It’s likely that the ensuing spinoff ‘Yellowstone: 6666 Ranch’ will double down on the changing economics of the industry. For the first time, Sheridan will give his fans the ability to play along in the story. When Beth picked up the phone to call the merchandiser at 6666 Ranch, the gentleman mentioned “we’ve sold 8 million pounds of beef this year.” While that was likely fictional, it’s a reasonable first-year mark given Sheridan’s reach and growing popularity. At $5 – $30 per pound and 8 million units moved, that goal would make Four Sixes Reserve a serious DTC business. One of the fastest growing, ever. The kind that could save a seventh generation ranch, a fictional one or otherwise.

By Web Smith | Art by Alex Remy  

Additional reading (very fascinating): Assessing Economic Impact That Would Follow Loss of US Beef Exports and Imports