The next era of entertainment is sub-fandom

A decade ago, success in media meant capturing the largest possible audience. Today, it increasingly comes from serving the superfans. But a deeper shift is underway. The most engaged audiences are no longer centered around the original franchise—they’re centered around specific moments, characters, or interpretations of it. Sub-fandoms are already driving more engagement than the source material itself. We see this across entertainment, from viral clips to gaming, where watching others play...