The metaverse first shot onto the radar of many last year after a big push from Meta that continues apace this year. And media companies — which are always on the hunt for new avenues to reach consumers — have been unpacking what the metaverse actually entails and strategizing about how they can capitalize on it. Many media companies are still grappling with how many resources they should devote to their metaverse research and strategy.
The latest data from Morning Consult shows that there’s still low awareness of the metaverse among U.S. adults; simultaneously, U.S. adults are more interested in entertainment-related activities in the metaverse than those related to other industries. This points to untapped opportunity and also illustrates the metaverse paradox that media companies need to contend with: It won’t become more attractive to invest in the metaverse until more consumers are familiar with it, but it likely won’t be more attractive for consumers to be active in the metaverse until more media companies are investing in it.
