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Return on Investment for the Content Industries

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Content for Management for Digital Content Industries optional module taught as part of the Masters in Digital Media and Asset Management at King's College London

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Return on Investment for the Content Industries

  1. 1. Simon TannerKing’s College LondonT: @SimonTanner
  2. 2. A place where a communitynourishes its memory and itsimagination – where itconnects with the past andinvents its future.To educate, enlighten and entertain:to promote and disseminate and to preserve culture
  3. 3. © H de Smet
  4. 4. www.kdcs.kcl.ac.uk/innovation/inspiring.html
  5. 5. Effective, efficient and world leadingwww.kdcs.kcl.ac.uk/innovation/inspiring.html
  6. 6. Bestowing economic & community benefits Glasgow Museums Collection is the city’s biggest single fiscal asset valued at £1.4 billion. It contains around 1.2 million objects. On average only 2% of the collection is exhibited to the public at any one time. Digital access is opening up further access to these collections. A major impact sought is to increase self-confidence in the populace – to feel less marginalised, less insignificant, less unheard. Increased feelings of self-worth through interaction with the Museums will spill over into every aspect of their lives. Digitised content & JISC Collections negotiations save the sector ~£43 million per year www.kdcs.kcl.ac.uk/innovation/inspiring.html
  7. 7. Bestowing economic & community benefits In 2008 National Museums Liverpool did a full economic impact assessment. They found that: "during the Capital of Culture period, 25% of all visitors to Liverpool visited the Walker Art Gallery, 24% visited the Merseyside Maritime Museum and 15% visited World Museum, while about 5% of visitors only visited a National Museums Liverpool venue and no other attraction during their visit. In total, National Museums Liverpool is reliably estimated to be worth £115 million to the economy of the Liverpool city region, a spend that supports 2,274 full-time jobs“ www.liverpoolmuseums.org.uk/about/corporate/reports/EIS_summary_2008.pdf www.kdcs.kcl.ac.uk/innovation/inspiring.html
  8. 8. Courtesy of www.museum-analytics.org
  9. 9. Courtesy of www.museum-analytics.org
  10. 10. © H de Smet
  11. 11. http://www.ithaka.org/ithaka-s-r/research/case-studies-in-sustainability-2011
  12. 12. supported by advertising revenueuser data as revenuetraditional retail modelfinancial incentives to affiliated partner sitesusers invest in a site (e.g. contribution of content, money, time, hosting)users pay for access to “value added” content (e.g. high resolution files)metered usage or pay-per-view
  13. 13. any device, any place, any time Uploaded every day: 300 million Tweets, 250 million Facebook photos & 8 person years worth of content on Youtube!It took Amazon anaverage six quarters forany investment to startto generate revenue$1 new investmentgenerates only 6¢additional return
  14. 14. In the Attention Economythere is a deficit of attentionand time:- the ability to attend to information in this tsunami of data and information.We will thus compete: for attention, for eyeballs on our collections and resources, for time and energy from our communities.
  15. 15. www.kdcs.kcl.ac.uk/innovation/impact.html
  16. 16. Staffing & Costs Staff Workspace Training Material Equipment preparation Software Preservation Vendor costs, if Management outsourcing Web site design Marketing Overheads
  17. 17. A framework in which all costs can be recorded andallocated or apportioned to specific activities.Essential to enable the costs of providing a service tobe calculated.A model of how the service functions and the methodby which it can sustain itself. It involves both strategyand implementation.
  18. 18. “the measurable outcomes arising from the existence of adigital resource that demonstrate a change in the life or lifeopportunities of the community” www.kdcs.kcl.ac.uk/innovation/impact.html

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