Thursday, June 29, 2006

Future's new Media

Future's new Media:

1) The Internet will be the King. Most of the entertainment will be on IP.

2) The Media WILL have to change, to adapt to new requirements. No more centralized delivery, no more centralized production.

"Last November, the Pew Internet & American Life Project found that 57% of American teenagers create content for the internet, from text to pictures, music and video. In this new-media culture, says Paul Saffo, a director at the Institute for the Future in California, people no longer passively "consume" media (and thus advertising, its main revenue source) but actively participate in them, which usually means creating content, in whatever form and on whatever scale. This does not have to mean that "people write their own newspaper", says Jeremy Zawodny, a prominent blogger and software engineer at Yahoo!, an internet portal. It could be as simple as rating the restaurants they went to or the movie they saw, or as sophisticated as shooting a home video. "

3) No more traditional business models in the media industry, which are based on aggregating large passive audiences and holding them captive during advertising interruptions. Thanks to the Net interactivity audiences will actively participate in the entertainment.
This means new kinds of it.

4) In the new-media era, audiences will occasionally be large, but often small, and usually tiny. Long tail Media. Niche market.
Not only can die-hards discuss their favorite shows on message boards, they can create high-tech tributes online, such as "best of" video montages.

5) [Advertisers] look forward to a time when they can use the Web's data-gathering capabilities to get a breakdown of who's watching a show and create ads targeted to each demographic segment.
Interactive TV will be available with all its implications and possible (huge) revenues of course.
And REVENUES are what drives the market......

"With participatory media, the boundaries between audiences and creators become blurred and often invisible."
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