Such a simple concept – broadcast creative content and monetize the attention it gets.
Was easy back in the days when getting the work out there was the difficulty. Now the question is where the values shifting because everyone can get work out there. And so many are that one thing’s for sure – the amount of content in itself is changing the marketplace for everyone.
While it’s possible that there is some elasticity in content consumption – mainly due to mobile devices making almost any type of content available anywhere – it’s not enough to soak up all the new content.
What’s also interesting is that much of the new content is in areas that traditional media has not focused on – like parodies & satires and opinion (There’s a great podcast on this in the video space at IT Conversations). And the new distribution methods mean that this stuff can be put out there at low cost so it’s viable to ever smaller slivers of attention. Sure the quality may not always be high but the authenticity often shines through.
As well unlike traditional content creators the motivations for broadcasting extent beyond monetization such that many of the posters are happy to see broad distribution – because it extends the reach of their message, reputation or creates down-stream opportunities – even if others pocket some change when it’s viewed. That changes the game as well because it changes the investment and reward profile for some people doing content development.
Still like Mark Ramsey suggest traditional media still has an advantage as it has both new and traditional channels to deliver content – and can segment content to be distributed widely – thought that’s still in its infancy.
With so much content brand and trusted referral is how we’ll choose – and as trusted referral grows it will open whole new ways to monetize content.