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“How much is content worth in the digital age?” November 14, 2007

Posted by Georgete in Point of view, Social Media, Web 2.0, Web marketing.
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TIME’s James Poniewozik recently wrote on his article about the writers strike, in the U.S., “In large sense, the studios and writers are forcing a question that every other form of media is facing: How much is content worth in the digital age?” What a great point, I thought.

When writers walked off their jobs for the first time in ten years, last Monday, we witnessed an unprecedented reality check when it comes to the impact of the new Web on our society. Yep. The strike is all about money, I know. But it also draws our attention to a revolution in the field of communications. The “future” is already here showing us how the role of consumers, writers, journalists, newsmakers and entertainers are tangling with each other as a result of the advent of Social Media.  

What are they fighting for?

TV and movie companies persist on their right to offer their products (movies and TV shows) on the Internet without paying additional fee to its writers. On the other hand, writers want to be compensated based on DVD sales and Internet downloads.

I believe writers finally woke up (better later than never) to the fact that the Internet is the future; otherwise their companies would not be paying too much attention to the newest Web and investing in the hottest web marketing. The Internet is THE global marketplace where new revenues will come from. Duh!

Who is the real competitor?

But guess what? Both [writers and companies] have failed to recognize their biggest, emerging competitor: ordinary people and citizen journalists who are generating content, coming up with new media formats, and entertaining global audiences online (sometimes doing a better job than TV professionals), and all of that for FREE.

Most recently, Rosie O’Donnell unveiled her plans to broadcast a new show on her website. “I’m going to figure out a way to do a show here, in my blogville, because I really think it’s the next way anyway,” she said. Again, it seems like a gigantic battle between the medium and content providers is about to shake the TV/Entertainment industry.

Who will win?

Put on top of everything an every-day-growing generation of consumers that are enjoying the power of choosing how, where, when and what they want to watch or receive (offline and online). It’s now a matter of time to see who will win this dispute. Hope we [the audience] win! By the end of the day, quality can be an outcome of a fierce competition, and the audience will define how much content is worth in the digital age. Voilà!

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Comments»

1. Marty - December 4, 2007

Georgette

Interesting questions to pose. Technology will always generate, what by some, will be seen as revolution. To others, they wonder what the big deal is. Yes, in the end, this topic is all about the money. But as in most situations in today’s developed world, the consumer is the big beneficiary. Power is increasingly in the hands of the people. So yes, the audience will be the big winners……in media and entertainment that has always been the case…..and will likely continue. Will the internet change than? No, I don’t think so, materially. But the new technologies will allow for new variations. One example being – with standard radio and TV it was a community event where we gathered around; but with the internet it is more solitary where I’m browsing what I want to be entertained by. As for your comments on the masses being the competition, I don’t buy that. I think people like writers, who hone their skills as a professions, will likely not be supplanted by amatuers, regardless of a few successes.


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