Comments on: How Can Big Media Get Back in the Game? The Big Bang Business Model http://michelletripp.com/index.php/2009/05/12/big-media-big-bang-business-model/ The BrandForward Blog℠ provides a fresh look at trends in marketing and advertising, technology and social media, with a focus on how social media and emerging technologies are moving the industry forward and changing the way brands connect with the consumer. Tue, 07 Sep 2010 21:22:00 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Anonymous http://michelletripp.com/index.php/2009/05/12/big-media-big-bang-business-model/comment-page-1/#comment-59 Anonymous Wed, 10 Jun 2009 22:27:26 +0000 http://michelletripp.com/wp28/http:/michelletripp.com/index.php/sample-post/#comment-59 I think all of the comments offer good ideas. If nothing else, the changes will force old media to return to its roots of community news.<br /> Here's something I often see missing from the posts of those pushing for monetizing through Facebook, Twitter, etc.: No one (advertisers, especially local ones) wants to pay for news on those vehicles. They're random and often not connected to the communities in which the local advertisers are based. They provide no value; local content does, and local content can be as simple as a promotion to how the council voted. <br /> And while certain metrics (traffic, membership, etc.,) may be high on Facebook and the like, unless there is a local tie behind the metrics there is no value to the local customer. <br /> That means, though, the national and regional advertisers/customers are up for grabs because they may want more of the high metrics than the local community ties. I think all of the comments offer good ideas. If nothing else, the changes will force old media to return to its roots of community news.
Here's something I often see missing from the posts of those pushing for monetizing through Facebook, Twitter, etc.: No one (advertisers, especially local ones) wants to pay for news on those vehicles. They're random and often not connected to the communities in which the local advertisers are based. They provide no value; local content does, and local content can be as simple as a promotion to how the council voted.
And while certain metrics (traffic, membership, etc.,) may be high on Facebook and the like, unless there is a local tie behind the metrics there is no value to the local customer.
That means, though, the national and regional advertisers/customers are up for grabs because they may want more of the high metrics than the local community ties.

]]> By: WayneNH http://michelletripp.com/index.php/2009/05/12/big-media-big-bang-business-model/comment-page-1/#comment-60 WayneNH Fri, 29 May 2009 10:36:35 +0000 http://michelletripp.com/wp28/http:/michelletripp.com/index.php/sample-post/#comment-60 Excellent call: "Big Media has to realize that information is no longer scarce."<br /><br />What used to be a regional news monopoly has become an international commodity. Yeah, that may take some getting used to.<br /><br />With ironic contrast, the Scripps' sponsoring of the National Spelling Bee an education system based on rote vs. kids creative problem solving programs which get lots of blog and web action but little airtime.<br /><br />Oh, the ponder! Excellent call: “Big Media has to realize that information is no longer scarce.”

What used to be a regional news monopoly has become an international commodity. Yeah, that may take some getting used to.

With ironic contrast, the Scripps’ sponsoring of the National Spelling Bee an education system based on rote vs. kids creative problem solving programs which get lots of blog and web action but little airtime.

Oh, the ponder!

]]> By: EM http://michelletripp.com/index.php/2009/05/12/big-media-big-bang-business-model/comment-page-1/#comment-61 EM Fri, 15 May 2009 19:17:00 +0000 http://michelletripp.com/wp28/http:/michelletripp.com/index.php/sample-post/#comment-61 Your article makes a lot of sense and it mirrors Kevin Kelly's <br />"better than free" theory that states that there are things that cannot be duplicated have value.. and one of them is user experience.<br /><br />An example of this is Bloomberg, the financial news aggregator.<br />Financial analysts happily pay for the service, which is unique. Your article makes a lot of sense and it mirrors Kevin Kelly’s
“better than free” theory that states that there are things that cannot be duplicated have value.. and one of them is user experience.

An example of this is Bloomberg, the financial news aggregator.
Financial analysts happily pay for the service, which is unique.

]]> By: Anonymous http://michelletripp.com/index.php/2009/05/12/big-media-big-bang-business-model/comment-page-1/#comment-62 Anonymous Thu, 14 May 2009 22:33:00 +0000 http://michelletripp.com/wp28/http:/michelletripp.com/index.php/sample-post/#comment-62 There is another dynamic going on as well. Consider the following:<br /><br />NEWS is still using Nineteen century news gathering and distribution formats in a twenty first century world. And like the melting of the polar ice cap due to global warming, the crisis in print news is just the tip of the iceberg.<br /><br />News reporting has undergone several revolutions over the decades. From carrier pigeons, to smoke signals; from the pony express to the telegraph; from the printed word to the telephone; from radio broadcasts to TV network broadcast; and from 24x7 cable news to internet news. Some of these changes have been enabled by technology advances. <br /><br />However, in all these various ways in which the news was found and published, there has never been a time, until now, where large numbers of people in geographically dispersed places, can get wind and share news before the official news media can report it. <br /><br />In all the many changes that have occurred in how the news is captured and reported, this sea change overtaking traditional news organizations with their need to fit into a traditional news broadcast format where collections of stories are grouped into programs/papers that are scheduled for airing/printing at specific times in specific media markets is fast beginning to breakdown. <br /><br />In the world of radio broadcasts, printed news papers, magazines, and network TV news shows, this approach worked relatively well. In today’s networked world, with access to social networking media, news is become know, heard and shared by ordinary non-media people who simply tell one another what’s up via Twitter, Face Book, YouTube, often before the news organization are aware. Some are hung up on what is Journalism but it isn’t about Journalism….It’s about person-to-person news ....personal media as opposed to mass media.<br /><br />The problem with continuing this dated approach is that we are now living in an age where news is becoming known faster and in more places than all the resources of all the news networks and papers put together can discover and report on in these fixed news formats/papers and shows. <br /> <br />Are we witnessing a revolution in how we communicate? <br /><br />The technologies enabling this sea change is the convergence of digital media, mobile and internet communications technologies, and photographic technologies to name a few. <br /><br />However, it will be a mistake to view this as a technology revolution. In fact what indeed seems to be happening is nothing short of a revolution in the way we communicate. <br /><br />And, as you correctly noted this information is now mostly free and one can also add,can be and will be shared without anchors, news desks, TV or networks cable, or print media.<br /><br />One might call it 'Open Source News' as in open Source software.<br /><br />And it is this revolution that is leaving traditional approaches to news capture and sharing in its wake while simultaneously opening opportunities for entrepreneurs who can spot and leverage this trend.<br /><br />In other words, the true source of news reporting is fast becoming the very people these news organizations are deeming to be their consumers. <br /><br />There is simply more people going about their business toting digital cameras, and mega-pixelled cell phones willing to click and share than news organization reporters and camera crews. <br /><br />How to leverage this trend is in part what it is all about. <br /><br />However, if history is any guide to what happens to establish firms in an industry in the midst of a sea change, it probably won't be Big Media riding the trend. <br /><br />Hin't Hin't I know of at least one startup that's already on it. There is another dynamic going on as well. Consider the following:

NEWS is still using Nineteen century news gathering and distribution formats in a twenty first century world. And like the melting of the polar ice cap due to global warming, the crisis in print news is just the tip of the iceberg.

News reporting has undergone several revolutions over the decades. From carrier pigeons, to smoke signals; from the pony express to the telegraph; from the printed word to the telephone; from radio broadcasts to TV network broadcast; and from 24×7 cable news to internet news. Some of these changes have been enabled by technology advances.

However, in all these various ways in which the news was found and published, there has never been a time, until now, where large numbers of people in geographically dispersed places, can get wind and share news before the official news media can report it.

In all the many changes that have occurred in how the news is captured and reported, this sea change overtaking traditional news organizations with their need to fit into a traditional news broadcast format where collections of stories are grouped into programs/papers that are scheduled for airing/printing at specific times in specific media markets is fast beginning to breakdown.

In the world of radio broadcasts, printed news papers, magazines, and network TV news shows, this approach worked relatively well. In today’s networked world, with access to social networking media, news is become know, heard and shared by ordinary non-media people who simply tell one another what’s up via Twitter, Face Book, YouTube, often before the news organization are aware. Some are hung up on what is Journalism but it isn’t about Journalism….It’s about person-to-person news ….personal media as opposed to mass media.

The problem with continuing this dated approach is that we are now living in an age where news is becoming known faster and in more places than all the resources of all the news networks and papers put together can discover and report on in these fixed news formats/papers and shows.

Are we witnessing a revolution in how we communicate?

The technologies enabling this sea change is the convergence of digital media, mobile and internet communications technologies, and photographic technologies to name a few.

However, it will be a mistake to view this as a technology revolution. In fact what indeed seems to be happening is nothing short of a revolution in the way we communicate.

And, as you correctly noted this information is now mostly free and one can also add,can be and will be shared without anchors, news desks, TV or networks cable, or print media.

One might call it ‘Open Source News’ as in open Source software.

And it is this revolution that is leaving traditional approaches to news capture and sharing in its wake while simultaneously opening opportunities for entrepreneurs who can spot and leverage this trend.

In other words, the true source of news reporting is fast becoming the very people these news organizations are deeming to be their consumers.

There is simply more people going about their business toting digital cameras, and mega-pixelled cell phones willing to click and share than news organization reporters and camera crews.

How to leverage this trend is in part what it is all about.

However, if history is any guide to what happens to establish firms in an industry in the midst of a sea change, it probably won’t be Big Media riding the trend.

Hin’t Hin’t I know of at least one startup that’s already on it.

]]> By: Michelle Tripp http://michelletripp.com/index.php/2009/05/12/big-media-big-bang-business-model/comment-page-1/#comment-63 Michelle Tripp Wed, 13 May 2009 08:05:00 +0000 http://michelletripp.com/wp28/http:/michelletripp.com/index.php/sample-post/#comment-63 On Twitter, @headcrash made a statement that bears mentioning here. He said he feels Google is a better prepared entity than Big Media to implement the aggregation concept. <br /><br />I have to agree. I think it goes without saying that Google is almost there... and already positioned to create the "magic aggregator." The combination of iGoogle, AdSense, AdWords, Gmail, Google Search, Google Profile, etc. are the right pieces. In a lot of ways, my post is geared toward lighting a fire under Big Media to do something about it.<br /><br />The beauty for Big Media is that based on their multi-media acquisitions over the last 10+ years they're poised to leverage the digital pipe. It's been almost 7 years (2003?) since I wrote a white paper about the development of a "Super Channel" that integrates a user's entire "lifeweb" into a digital interface accessed on a television. The "magic aggregator" is pretty much the same thing, but with more social media content and news. <br /><br />Back then, social media didn't have the vibrant activity it has now. And blogging hadn't taken hold yet, meaning there was a lot less original news content to aggregate. At the time, I was envisioning more along the lines of managing your life via the interface (pay insurance, keep track of medical, shop, access education, and on and on. From your couch vs. hunched over a computer). A lot has changed since then but the reality is getting clearer: Aggregation is the future and whoever can provide the most value in that arena runs the circus. On Twitter, @headcrash made a statement that bears mentioning here. He said he feels Google is a better prepared entity than Big Media to implement the aggregation concept.

I have to agree. I think it goes without saying that Google is almost there… and already positioned to create the “magic aggregator.” The combination of iGoogle, AdSense, AdWords, Gmail, Google Search, Google Profile, etc. are the right pieces. In a lot of ways, my post is geared toward lighting a fire under Big Media to do something about it.

The beauty for Big Media is that based on their multi-media acquisitions over the last 10+ years they’re poised to leverage the digital pipe. It’s been almost 7 years (2003?) since I wrote a white paper about the development of a “Super Channel” that integrates a user’s entire “lifeweb” into a digital interface accessed on a television. The “magic aggregator” is pretty much the same thing, but with more social media content and news.

Back then, social media didn’t have the vibrant activity it has now. And blogging hadn’t taken hold yet, meaning there was a lot less original news content to aggregate. At the time, I was envisioning more along the lines of managing your life via the interface (pay insurance, keep track of medical, shop, access education, and on and on. From your couch vs. hunched over a computer). A lot has changed since then but the reality is getting clearer: Aggregation is the future and whoever can provide the most value in that arena runs the circus.

]]> By: Michelle Tripp http://michelletripp.com/index.php/2009/05/12/big-media-big-bang-business-model/comment-page-1/#comment-64 Michelle Tripp Wed, 13 May 2009 06:22:00 +0000 http://michelletripp.com/wp28/http:/michelletripp.com/index.php/sample-post/#comment-64 Thanks for all the thoughtful comments! Some really powerful ideas are coming out. Dan's observation that journalists won't become extinct but will become more entrepreneurial is interesting. And Mike's (mip) assertion that the aggregation should feature an "on-the-fly" ability to reassess the news stream based on conversations and topics the user is currently engaged in is a game changer. Brilliant! I wish I had included that in the post because it's a concept that would provide incredible power to an aggregation product.<br /><br />Kudos have to go to Ron for Business Week Business Exchange. I just discovered the site a couple of weeks ago (Thanks, Alex Chambers!) and it's now one of my favorite places to discover a wide range of business content. This is definitely a very open venture for a big media company. The fact that content is aggregated and promoted, even though it's not Business Week's is so forward-thinking. I love it.<br /><br />Just to be clear, even though I take big media to task a lot in my blog, I'm actually a long-time supporter of print media and hope it can find a way to survive. A lot of my criticism is tough love. When I worked for a Scripps newspaper back in the 90's I learned the value of print media from the inside out, and even when moving into the advertising agency world I always had a soft spot for print media because I believed in its value. I would love to be a part of the solution. Hopefully there are more executives out there like Ron who see the future and are working to not only adapt to it, but also shape it. Thanks for all the thoughtful comments! Some really powerful ideas are coming out. Dan’s observation that journalists won’t become extinct but will become more entrepreneurial is interesting. And Mike’s (mip) assertion that the aggregation should feature an “on-the-fly” ability to reassess the news stream based on conversations and topics the user is currently engaged in is a game changer. Brilliant! I wish I had included that in the post because it’s a concept that would provide incredible power to an aggregation product.

Kudos have to go to Ron for Business Week Business Exchange. I just discovered the site a couple of weeks ago (Thanks, Alex Chambers!) and it’s now one of my favorite places to discover a wide range of business content. This is definitely a very open venture for a big media company. The fact that content is aggregated and promoted, even though it’s not Business Week’s is so forward-thinking. I love it.

Just to be clear, even though I take big media to task a lot in my blog, I’m actually a long-time supporter of print media and hope it can find a way to survive. A lot of my criticism is tough love. When I worked for a Scripps newspaper back in the 90’s I learned the value of print media from the inside out, and even when moving into the advertising agency world I always had a soft spot for print media because I believed in its value. I would love to be a part of the solution. Hopefully there are more executives out there like Ron who see the future and are working to not only adapt to it, but also shape it.

]]> By: Ron http://michelletripp.com/index.php/2009/05/12/big-media-big-bang-business-model/comment-page-1/#comment-65 Ron Wed, 13 May 2009 06:01:00 +0000 http://michelletripp.com/wp28/http:/michelletripp.com/index.php/sample-post/#comment-65 If I may take this opportunity to mention our (BusinessWeek's) social media/aggregation platform <b>Business Exchange</b> (http://bx.businessweek.com) as an example of what you are describing. <br /><br />There's lots to say about what we are doing but I will not burden you with the details here Please feel free to contact me directly for more information at ron_casalotti (at) businessweek (dot) com If I may take this opportunity to mention our (BusinessWeek’s) social media/aggregation platform Business Exchange (http://bx.businessweek.com) as an example of what you are describing.

There’s lots to say about what we are doing but I will not burden you with the details here Please feel free to contact me directly for more information at ron_casalotti (at) businessweek (dot) com

]]> By: mip http://michelletripp.com/index.php/2009/05/12/big-media-big-bang-business-model/comment-page-1/#comment-66 mip Wed, 13 May 2009 05:45:00 +0000 http://michelletripp.com/wp28/http:/michelletripp.com/index.php/sample-post/#comment-66 Wow, what a great post this is. I think as well, on top of aggregation, that Big Media needs to leverage the idea of "context aggregation", for instance, pickup on items I'm Twittering about, or Facebooking, or blogging and customize my content dynamically. Pass me info that changes on-the-fly based on what I'm thinking, doing, talking about at the moment. Big Media needs to embrace what Web 3.0 is going to be; the "real-time" web. <br /><br />As always, a thought provoking piece. Thoroughly enjoyed it.<br />Ciao<br />mip Wow, what a great post this is. I think as well, on top of aggregation, that Big Media needs to leverage the idea of “context aggregation”, for instance, pickup on items I’m Twittering about, or Facebooking, or blogging and customize my content dynamically. Pass me info that changes on-the-fly based on what I’m thinking, doing, talking about at the moment. Big Media needs to embrace what Web 3.0 is going to be; the “real-time” web.

As always, a thought provoking piece. Thoroughly enjoyed it.
Ciao
mip

]]> By: Walter Dermul http://michelletripp.com/index.php/2009/05/12/big-media-big-bang-business-model/comment-page-1/#comment-67 Walter Dermul Tue, 12 May 2009 13:52:00 +0000 http://michelletripp.com/wp28/http:/michelletripp.com/index.php/sample-post/#comment-67 Michelle, this is a great post ! I'm entirely with you in your thinking. I believe the strength of the concept lies in a number of forces that are with the Big Media - to stay in your Star Trek analogy ;-)<br />They're sitting on a huge amount of information that can be mashed into something that puts each new item into a contextual perspective. By doing so they can leverage the long tail principle : masses of people can find content & context for their very specific needs. <br />We need our media to help us 'understand' - not no so much anymore to 'know'. Michelle, this is a great post ! I'm entirely with you in your thinking. I believe the strength of the concept lies in a number of forces that are with the Big Media – to stay in your Star Trek analogy ;-)
They're sitting on a huge amount of information that can be mashed into something that puts each new item into a contextual perspective. By doing so they can leverage the long tail principle : masses of people can find content & context for their very specific needs.
We need our media to help us 'understand' – not no so much anymore to 'know'.

]]> By: Molly@infolode.com http://michelletripp.com/index.php/2009/05/12/big-media-big-bang-business-model/comment-page-1/#comment-68 Molly@infolode.com Tue, 12 May 2009 12:38:00 +0000 http://michelletripp.com/wp28/http:/michelletripp.com/index.php/sample-post/#comment-68 Great article Michelle and I can see your broader point. <br />However, what I think Murdock is talking about is monetizing the access to politicians and other newsmakers that being a member of a recognized news organization gives his reporters. Remember the fall out when UPI was rumored to be selling to Pat Robertson's Christian Broadcasting Network? It was the ACCESS that was objected to. That and the perceived slant on the news that CBN would project. (snicker) <br />W/o that access even the best independent reporter is pretty helpless, especially on a big breaking story. Even those who chose independence have a background (read connections) to lend them legitimacy/gravitas in order for them to continue reporting on close to the same level as previous to their new independence. <br />For example, the White House press conference. Limited space available, even more limited questions answered. <br />David Letterman isn't going to answer questions from me, he's going to give a full interview to Oprah's O, however. <br />I'm a bystander in all this: a fan of bloggers, a MSM critic/skeptic but also a lover of real information, which requires that those I listen to/watch/read have access to news makers or a source to access them second hand at the very least. Great article Michelle and I can see your broader point.
However, what I think Murdock is talking about is monetizing the access to politicians and other newsmakers that being a member of a recognized news organization gives his reporters. Remember the fall out when UPI was rumored to be selling to Pat Robertson’s Christian Broadcasting Network? It was the ACCESS that was objected to. That and the perceived slant on the news that CBN would project. (snicker)
W/o that access even the best independent reporter is pretty helpless, especially on a big breaking story. Even those who chose independence have a background (read connections) to lend them legitimacy/gravitas in order for them to continue reporting on close to the same level as previous to their new independence.
For example, the White House press conference. Limited space available, even more limited questions answered.
David Letterman isn’t going to answer questions from me, he’s going to give a full interview to Oprah’s O, however.
I’m a bystander in all this: a fan of bloggers, a MSM critic/skeptic but also a lover of real information, which requires that those I listen to/watch/read have access to news makers or a source to access them second hand at the very least.

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