The entertainment industry is a highly competitive and risky business with only few successes. The ways in which we experience music, movies, games, books, and television in our lives have changed significantly in the past few decades, depending more on people's experiences. As these mainstream forms of entertainment are experience goods, it is hard to measure the value and fit of the product before trial. Thus, it is important for the entertainment industry to effectively engage and captivate the target audience by seizing their positions and by anticipating the consumer needs ahead of time.
When are decision makers able to learn from others? I argue that actors occupying network positions that enable social learning gain a competitive advantage. I show that the accuracy of security analysts' earnings forecasts improves when the coverage network readily conveys information about competitors' decision-making context. The benefits of social learning are most pronounced in unstable environments, measured by firms' forecast dispersion.