A co-worker Mark and I were discussing the changes going on in the various media industries of late. First the recording industry is taking a thrashing with groups like Radiohead and Nine Inch Nails releasing albums online and giving the record labels pinks slips. They, the recording industry, are now attempting to force new artists to sign 360 degree contracts which would give them a cut of all profits. This is eerily similar to what the UFC has done to fighters forcing them to sign away exclusive rights to their own likenesses.
Now the newspaper industry is collapsing upon itself. There is even a wonderful little website newspaperdeathwatch.com. Now I don’t know if blogging is to blame or the internet or what. But what I do know is that the only consistent thing in life is change. I am sure there was a time when they thought that they were indestructable just like the Big 3 and the banks.
There is another change coming, and there are already whiffs of it in the wind. The Canadian government is ready to help struggling broadcasters. However, they have not stopped to consider why they are struggling. Media broadcasting is dying out. Not only are the advertisers disappearing in this declining market, but new and more effective forms of advertising are popping up. Also in this day and age I can stream every television show I want to watch, and skip every commercial!
Everything changes. The questions become by how much and what is the impact?
We need to change the way we do business. We need a MEGA-change in how we think about information, how we consume it, how we distribute it how, how we maintain ownership of it. No more geo-fencing, no more limiting who can see what where and when. Everyone can create content now. You don’t need expensive camera or big studios.
While television might not be ready to go the way of the dodo just yet anyone who thinks broadcasting signals is the way to go had better think again.
The advertising opportunities with streaming media is mind-boggling. No longer would you need to consider the lead-in shows or the bridge shows. Advertisers will be able to target their video commercials with laser precision. Find the show with your exact demographics and BAM! For example I like Family Guy, it appeals to me and other 20-40 something white males. If that is your demographic you tie your ads to the show then the info (and your ad) is deliverable to me 24 hours a day. No more wasted commercials during prime time because you know what?
It’s always prime time on the internet!
