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    « The Media Crisis, Part 3: Advertisers (looking for their lost sheep) | Main | What I'm reading: Social network impact and connecting with college seekers »

    September 29, 2009

    Comments

    Alison

    But what if you could opt-in to ads from companies you like in order to watch your favorite programs instantly? That's where I think we're headed. You provide some demographic data & choose the brands you like, then you learn about promos or new products from brands you're already devoted to & get your programs/podcasts/articles in exchange.

    Emmet Gibney

    The challenge I see is that keeping content locked up is more or less impossible now. If I want to watch the latest episode of Mad Men I can pay $2 to watch it on iTunes, or I can download it for free using bit torrent, and it's available FIRST on bit torrent. Unfortunately "it's the right thing to do" is not enough to prevent most people from going with bit torrent.

    I'm not saying that money can't be made with putting things out on iTunes or similar type services, but certainly the monopoly style profits that big media companies made in the past, are stuck in the past. Technological innovation has been the main driving force of change in the media industry, and each step of the way the incumbent companies have tried to stifle innovation to maintain their stronghold.

    There are some big opportunities for media companies if they have the foresight to go with the flow. Some people will pay for content, but only if it's easier than finding it for free elsewhere.

    I think a model where we are giving our content away for free, in return for becoming a member of our online community would be a plausible model. Integrate with Facebook Connect, allow people to sign in to our site with their Facebook account therefore giving us access to their demographic information. With some creativity we could find ways to target very specific niche markets. We could sell the same show to thousands of different advertisers all vying for different demographics. Laser precision instead of the shot gun approach.

    Old media is about talking at people, new media is about including them in the conversation. I think a lot of companies who refuse to adapt to this will not be around in a few years.

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