I’m a lover all media. From world news to the tabloids, movies to magazines, I devour it all. And yet, while the number and depth of media sources has grown remarkably over the past 30 years, most of the traditional business model’s are under assault.
Daily Newspapers are dying left and right. Print display ads are drawing down. Subscriptions are down. Classified ads are free online. And web advertising is too well measured to allow for rent seeking prices.
At the same time, Movie and TV production are losing money because torrents and streaming video have cannibalized DVD sales of Movies and TV Series.
The music industry strategy of bundling songs on CD’s have collapsed across most genres, as result of iTunes and other download services, that can produce cost-free perfect replicas in an unbundeled fashion.
And soon cable TV might lose its bundled pricing power to sell consumers only basic and premium packages. Instead they might need to offer per-channel options.
But for every closed door is a new opportunity. For example, vinyl records are making a strong comeback as a music format, for which people are willing to pay extra. Internet distribution has allowed Indy films and documentaries a much wider audience then they ever had before. And more people get their news from more sources, with a finer grain of opinion then ever before possible.
I am writing here to document the new media model. Not only from a business perspective, but also from an editorial angel. Because both will need to change to meet the new demands in a way that is sustainable and profitable. It will come in fits and starts, but it will come sooner rather then later.
I will be a part of this new world, and I hope you’ll come with me for the ride, because you are going to end up ther weather you like it or not.