Study Guide: Social Media Analytics & AI - Module TD1

Yo, what it is! You know what it is, it’s your man Kingmusa— and welcome to The Study Guide! I'm here to break down today's class notes and help us learn together. Today we are going over Text Analytics - I (Thematic Analysis) and we will be focusing on Module: Trend Analysis 1" Let's dive into our module on Text Analytics. We're exploring what it is, how it's used, and why it's important for understanding social media and beyond.

 

Key Concept of the Day:

 Today, we're focusing on the basics of text analytics. This includes understanding how it's used to draw meaning from written communication, the different techniques involved, and how it's applied in the real world to gain valuable insights from text data. We'll also touch on using Voyant-Tools for analysis.Streaming companies are shifting their focus from growing their subscriber base to making money. This means they’re raising subscription costs and might even increase prices in the future. To make a profit, they’re trying different things like adding ads to their services, offering bundles, cracking down on password sharing, and raising prices. Disney’s streaming services made it profitable by raising prices, which shows that people are willing to pay more for good content. 

Several big streaming services, like Disney+, Hulu, ESPN+, Paramount+, Peacock, and Max, have recently raised prices. Streaming companies want to make sure that their subscription costs are fair. But because of the price increases, streaming entertainment is getting more expensive for us. A survey of 3,000 people found that 90% of them agree that streaming video subscriptions are raising prices more often. Streaming companies want to attract advertisers by offering ad-supported tiers.

This concept is important because: Text analytics is crucial for understanding the vast amounts of text data generated online, especially on social media. It helps businesses gain insights from customer feedback, analyze social media trends, and make informed decisions based on language.

Here are the main points:

1. Text analytics is about drawing meaning from written communication by analyzing text data.
2. It helps extract valuable insights, patterns, and structures from text.
3. Key steps in text analytics include identifying and searching, parsing, cleaning, filtering, and finally, analysis.
4. Various techniques are used, such as frequency analysis, keyword identification, sentiment analysis, and more.
5. Voyant-Tools is a tool we can use for textual analysis.

Ad-supported plans now make up over 40% of all ad revenue last quarter, with some companies having more than 70% of their subscribers on this tier. Netflix introduced an ad-supported plan to attract new users and make their content more valuable and engaging before raising prices. People are okay with ads for lower prices, but ad-supported plans might end up costing more. Streaming services are raising prices, but people aren’t willing to give up their favorite shows and movies. Companies are offering discounts to make more money and keep people subscribed. Streamers are limiting how many people can share their accounts to increase the number of subscribers. Low subscription prices aren’t sustainable, and people might end up paying more in the future. Netflix had its biggest subscriber increase in 2024, with 302 million people worldwide. Popular content like the Mike Tyson and Jake Paul boxing match, NFL games, and the premiere of “Squid Game” season two helped the growth. Netflix announced that most US and Canadian subscription tiers will be getting more expensive because they’re investing in new shows and making sure that members get a good value for their money.

Netflix just made some big news! Their revenue went up by 16%, and their operating income went up by a whopping 52%. They even made over $10 billion in revenue for the first time ever! Netflix is thinking about focusing on live events and sports to keep growing. They might even start streaming live sports. Netflix is also saying goodbye to their quarterly paid membership numbers and will now give us a report twice a year about how much we’re using their service. Streaming services are raising prices and trying new things like stopping people from sharing passwords to make more money. If you’re watching Netflix, you might have to deal with ads or look for discounts or bundle deals to save some cash.

In a nutshell, this module introduces the core concepts of text analytics and its applications, providing a foundation for understanding how to analyze and interpret textual data from social media and other sources. Analyze the rising costs of streaming services. Research articles and watch a video on the topic. Write a comprehensive response that addresses higher costs, accessibility, diversity, and their impact on viewing habits and the industry. Prepare a two to three-page document, double-spaced, using 12-point Times New Roman font. Include a title page, answers, reflection, and references (if applicable). Turnitin detector for AI usage and similarity verification is activated. Ensure the entire work is original, refraining from AI-generated content and plagiarism.

That wraps up today’s episode of The Study Guide. Remember, we teach to learn, and I hope this has helped you understand Module: Trend Analysis better. Keep studying, keep learning, and keep pushing toward your academic goals. Don’t forget to follow me on all platforms @Kingmusa428 and check out more episodes at kingmusa428.com. See y’all next time!