Key takeaways from Variety's Entertainment and Tech Summit

At Variety's Entertainment and Technology Summit presented by City National Bank, which took place in West Hollywood on Thursday, entertainment industry executives and visionaries gathered to discuss the growth of technology and its impact on TV, film, gaming, music, media digital and consumer brands.

Leaders of brands including Disney, Universal Television, Mattel, NBA, Twitch, Paramount, Taco Bell and many more participated in panels that highlighted the different ways in which new technologies are implemented in their areas of work. Read below to find out what top entertainment industry figures had to say about the evolving intersection of entertainment and technology.

Creativity remains supreme in a crowded streaming world

During the Titans of TV Programming panel, TV executives discussed their growing footprint in a world of streaming that moves further away from cable TV and closer to ad-supported and subscription-based streaming services. Dan McDermott, president of Entertainment and AMC Studios for AMC Networks, said executives always value creativity in storytelling and intellectual properties with established audiences.

"What has remained consistent is the value of creativity and storytelling over the long term and high quality," McDermott said. "It's a much more crowded landscape than we've ever had, but as a programmer you're definitely looking for those bits of IP that have a built-in audience and fan base."

Social media is an unavoidable battleground for brands

At the Brand Storytelling Elite panel, representatives from consumer and entertainment brands discussed at length the best ways to engage audiences in a media environment that often feels oversaturated and cluttered. Nicole Weltman, social media manager at Taco Bell, talked about competing with established news outlets for consumer attention.

"When we think about what our content displays, it displays relative to the content from Vice and NBC, places with an embedded audience,” Weltman said. "When we think about the stories we want to tell, we rely on these fans to tell their stories and make their voices heard." She then developed a genuine partnership with pop artist Doja Cat while promoting the return of their Mexican pizza.

Creating immersive experiences may be the future of audience engagement

The Future of Audience Engagement: A Glimpse into How Innovation and Creativity Forge Strong Bonds with Today's Audiences The panel featured a conversation between Omar Zayat, Senior Director, Head of Industry, Entertainment, Meta; and Keisha Senter, VP of Culture and Impact, Monkeypaw Productions, the production company founded by Jordan Peele. The two chatted with Variety's Heidi Chung about how to further immerse audiences in the world of experiences they create around different mediums like film.

Their collaboration led to a metaverse experience centered around Peele's new film "Nope", and Senter highlighted some key questions his team asks when cultivating new ideas and experiences: “We really think about how we elevate ourselves. How high is our content? Is our content representative? Is it gender-focused? Are we looking for ways to be mischievous and fun? There are so many ways to think about it with the filmmakers, but also with the partners you collaborate with."

Web3 has great potential to benefit the entertainment industry

At the Making Sense of Web3 for the Entertainment Industry panel, industry executives discussed at length possible ways of what new Web3 innovations could bring better and effective changes to the entertainment industry. Melody Hildebrandt, CISO and President, Fox Corp. and Blockchain Creative Labs, shared two key areas where she believes the potential of Web3 could be unleashed for the benefit of consumers.

"I really think of it as a technological innovation...