Professional content, we were told, was dead.
Why pay journalists, producers and directors, if you can crowdsource? Who needs TV networks when people can create their own on YouTube? Why pay editors to choose stories when you have RSS and Digg? A new dawn had arrived or so it seemed.
Now traditional media is soaring back and social media, many still struggling to find elusive profits, are inking content deals. Meanwhile, Yahoo iscutting social services even as theyhire journalists. What’s going on?
The Death of Content
Back in the 1990’s, or just after the earth cooled and the dinosaurs roamed the earth, everybody was excited about a new thing called the Internet. Some very smart people realized that it would be a revolutionary way to distribute media. Understandably, they deployed a tried and true media formula:
Content + Distribution = Eyeballs = Lots and Lots of Money!!!
Dealmakers and investment bankers cobbled together deals to match content with the technological platforms that would put it in front of consumers. They also did lots of ad deals, mostly with each other in the form of barter. Valuations went wild until the crash of 2000 killed the party.
- Is Traditional Media Being “Googled?” (digitalassetmanagement.org.uk)
- The Future of Media Gradually Coming Into Focus (digitalassetmanagement.org.uk)
- The Next Big Media Battle: Publishers vs. Ad Agencies (digitalassetmanagement.org.uk)
- Curation, curation, curation (digitalassetmanagement.org.uk)