What content will be valued in future?
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What content will be valued in future?

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Presentation for seminar at MediaPro09, exploring the impact of technology on consumer behaviour around media and the impact on media owners. Includes practical tips for content producers on how to ...

Presentation for seminar at MediaPro09, exploring the impact of technology on consumer behaviour around media and the impact on media owners. Includes practical tips for content producers on how to evolve their media brand and create a new business model

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  • Today I want to look at how technology is changing how people consume media, and the implications for media owners and content producers. Amid the current debate about free vs paid content, I’ll be considering: What content will people value? And for media owners - What will be worth producing?
  • Content that previously was only available on terrestrial TV or at the cinema is now easy to download on demand to a portable device. Last week my 12 year old watched a film on a train on his ipod touch. The web is now ubiquitous – train, café, hotel, home, outdoors… - if you have a 3g device Consumers/ readers are now used to having easy access to high quality content on the move, when it suits them. People expect to be able to research a major purchase online before making a decision. They like to share the good stuff instantly with their friends…and even create and publish their own material
  • Each media type had its own production method – scale counted and few crossed the boundaries. If you were in one silo you didn’t worry about other businesses in other silos targeting the same audience…. But now media brands compete across the silos: NME plus Capital Radio plus Last fm C4 Grand designs plus Ideal Home magazine BBC plus Times plus Google…
  • Barriers between platforms have collapsed. Media brands now have new competitors Grand Designs: first tv, now event, web, mag, book – is challenging established homes mag brands Lonely Planet – first books – now spread to web, magazine, iphone apps and even a google wave planning tool. Brands that aren’t everywhere will miss out.
  • It’s the media content that starts the conversation or prompts the discussion Consumers can vote/ share/ discuss/ review and even Use to create their own content
  • When media platforms were separate, each had a distinct use – or purpose for consumers
  • In spite of technology causing these devices to converge, these core functions remain…. … but content will flow more freely from one to another itv.com encourages chatting about its TV shows Kindle allows users to upload their library to the web Films can be downloaded to personal readers (or even ipods) MSN, Facebook, linked-in all available on mobile Boxee make it easy to browse web from TV set (and so does Wii…)
  • Turning from consumers to media owners… Media businesses used to edit choice for consumers – creating digestible packages out of the mass of information available. They had the audience’s attention and could charge advertisers for access. In niche areas they had a near monopoly and could charge a premium…
  • But search and direct web publishing have changed all that Audiences can find information by search Advertisers can use search to reach audiences Advertisers can even create their own content and go direct Media owners are being bypassed – they cannot command the premiums they once had There is still a value to audiences if content is packaged to be relevant or convenient for a distinct group…
  • Media owners need to redefine their business to thrive in this new world They must operate across all the new platforms, channels and devices I believe the greatest value can be created by focussing on a specific niche Racing Post – successfully selling online subs… Econsultancy – a media business with a strong training and research component Cricket World – print, radio, video and advertisers services for a niche sport…
  • So what is the media owner or content producer supposed to do about all this? Here are five practical tips to help you reinvent your media business model and thrive in the new world.
  • Test out new content types – Video games apps networks….. this may require new skills or partnerships Make this content available on new channels/ devices – Web events ereaders mobile….. again may need aggregators or partners
  • Provide tools to export and share Don’t be precious about copyright – but make sure your content is badged… Design content in portable chunks: Top tips Video clips Images Reviews Best of…
  • What your audience say is interesting But it’s your brand that brings them together And creates the environment to talk and share
  • No longer just about broadcasting your message Build games and competitions around content (fantasy golf major driver for todaysgolfer.co.uk) Create narrative and characters to build loyalty – learn from soap operas and TV drama Encourage interaction and comment…learn from your audience…
  • Work out who are the VIPs in your market Treat them like VIPs special access Treats and goody bags Influence and fame Networking with other VIPs Times+ site…
  • Media owners will have to re-prioritise the content they create to ensure it is unique and valuable for a niche group: Solve a problem – parenting advice – ask a mum/ horse answers/ gardening problems (RHS) Help with complex purchase – cars/ boats/ gadgets…parkers, yachting reviews, cnet Helps with a big project – renovation/ extension – homebuilding mag/site/shows Help my business grow – supplier reviews/ econsultancy Acquire new skills – photography courses, learn a language (iphone phrasebooks) Worth sharing with peers…film reviews by Empire, opinions and analysis (economist or spectator…)
  • So how can media owners plan their content creation? Need two strategies – one for free and one for paid content – they do different jobs. Valuable content can be put behind a pay wall, and only be available to paying customers, whether micropayments or on subscription (FT, Racing Post) Free content is designed to attract new entrants through search. There may be an ad prize but the real value is in selling onto paid content. The skill is in converting the new entrants to paid-for content: many businesses are aiming for 5-10% conversion Media owners will need to have different strategies for creating each category…

What content will be valued in future? What content will be valued in future? Presentation Transcript

  • What content will be valued in future? Media Pro, 5 November 2009 Carolyn Morgan, Penmaen Media
  • Technology is changing media consumption behaviour Technology change Media consumption behaviour
    • Broadband always on, everywhere
    • Powerful portable devices
    • Transfer content
    • Upload content
    • Ecommerce
    • Video content on demand
    • What I want
    • When I want it
    • Where I want it
    • Research purchases
    • Share with friends
    • Create my own stuff
  • The old media silos TV BBC C4 Print Times Ideal Home NME Web Google Wikipedia Lastfm Mobile/ ipod itunes Walled gardens Radio Capital Classic FM
  • Media brands cross boundaries Grand Designs Event TV Web Magazine Book Lonely Planet TV Magazine Books Web Iphone app Google wave planning tool
  • Media starts the conversation TV programme Press article Web story Discuss with friends Vote Play games Share through social networks Reviews Ratings Comments Mash into own content Create or contribute
  • Different media spaces TV Passive entertainment Radio Background Distraction Mood Magazines Books Escape Relax Research Games Interact Compete Achieve
  • Content will flow between media spaces Entertainment TV/games Be entertained as a group Personal readers E-readers Learning, reflection relaxation, retreat Personal, portable Mobile Contacts, friends, games music, chat, private Interactive Laptop/PC Research, shopping, public comms, learning, sharing, connect, play
  • Old model: media as gatekeepers Media Owners Information Edit choice Audiences Advertisers Package information Sell access via advertising
  • New model: search and direct publishing Media Owners Information Edit choice Audiences Advertisers search direct publishing PPC
  • Multi-media niche businesses can charge a premium AUDIENCE Targeted content Relevant ads Connect with peers Debate Create Share Membership ADVERTISERS Specialist audience Bespoke solutions Lead generation Develop relationships Print Web Mobile Events
  • 5 tips for content producers…..
  • #1: Experiment with new content types & channels Content Brand Audio Video Games Apps & Tools Events Chat Mobile Words Images Print Ereaders Web Networks Channels/ devices Content types Social Media User content
  • #2 Create content that audiences can export, share, contribute to…
    • Download to mobile
    • Digital edition
    • Add to social media
    • Contribute my content
    • Upload to web
    • Copy to e-reader
    • Share with friends
  • #3. Turn brand into a meeting place
    • Don’t hog the airtime
    • Host the conversation
    • Help people connect
    • Create a sense of membership
    • Make it easy to contribute
  • #4: Engage your audience
    • Add games & competitions
    • Create narrative and characters
    • Encourage interaction and comment
  • #5: Nurture the core
    • Who is your core audience?
    • Understand their needs
    • Create intelligent content
    • Create a dialogue
    • Enable networking
    • Make them feel special
    • Invite them to contribute
  • What content will customers value? Solve a problem Acquire new skills Help my business grow Worth sharing with like-minded people Help with a complex purchase Helps with a big project
  • Content is marketing – free vs paid Free – news, gossip, attracts new entrants Paid – valuable content Search Search Search Conversion
  • Carolyn Morgan Penmaen Media 07887 625229 www.penmaen-media.co.uk [email_address]