lean back 2.0

everything is new again. i
have gradually become used to dividing my reading into the work, laptop info zone; and the chill, relaxing, , leisurely read of the tablet. the laptop replicates the old newspaperexperience; the tablet replicates the book. everything new is old again. [ andrew sullivan, the sunday times ]

everything is new again. the
rebirth of lean-back mediai s s e e m i n g ly a g e n t l e , r e a s s u r i n g c h a n g e for media businesses. i t i s a c t ua l ly a t s u n a m i t h at d e m a n d s u r g e n t r e - e x a m i n at i o n o f e v e ry t h i n g t h at c o n s t i t u t e s a m e d i a bu s i n e s s .

lean back the first age:
the second age: the third age:lean-back print lean-forward web lean-back digitalritual pleasure snacking and research, lean-back, of reading c o m m u n i t y, s h a r i n g only better

the web demanded a news
is becoming a shared social experience , with people swapping links in emails, posting on social networks, ‘retweeting’ news stories and haggling over the meaning of events in discussion threads. [ p e w i n t e r n e t & a m e r i c a n l i f e p r o j e c t, 2 0 1 0 ]

the web demanded a the
economist approach to lean-forward web... face-book debates google tumblr news user ask the comments economist audio print online ideas youtube flipboard edition content 7 million content arena unique users conversation by cloud invitation itunes the linkedin economist asks twitter [ source: omniture ]

the web demanded a ...that
enabled us to build a valuable global community . successful av e r a g e p e r s o n a l i n c o m e o f u s e r s o f t h e e c o n o m i s t o n l i n e : $ 11 5 , 1 9 8 . e d u c at e d u s e r s h av e ta k e n a n av e r a g e o f 4 e d u c at i o n c o u r s e s . i n t e r n at i o n a l t h e y to o k a n av e r a g e o f 1 4 b u s i n e s s trips and 7 leisure trips last year. i n f lu e n t i a l almost 1 in 5 hold a board d i r e c to r s h i p. 3 % h o l d o v e r f o u r .[ s o u r c e : t h e e c o n o m i s t o n l i n e r e a d e r s u r v e y, 2 0 1 0 . b a s e : a l l r e s p o n d e n t s w o r l d w i d e i n e m p l o y m e n t ]

[ ezra klein, the washington
post ]

lean back is different again:
print readers spend about 45 minutes with an issue each month. readers using their iphone and ipad spend an average of 160 minutes.[ g q , va n i t y f a i r , w i r e d a n d g l a m o u r a p p r e a d e r s u r v e y, c o n d e n a s t 2 0 1 0 ] 65% of people have increased the amountthey read due to e-books, with 80% attributing this to the of reading a book digitally. reading during ‘dead’ time was a key trend with travelling (72%) and waiting for an appointment (72%) proving most popular.[ i m o d e r at e r e s e a r c h t e c h n o l o g i e s , d i g i ta l w o r l d b o o k c o n f e r e n c e 2 0 11 ]

lean backis different again: i
never really found it very enJoyable to read a magazine on my computer or iphone. but with the ipad it’s a whole different story . i can pinch out to zoom into a section; hyperlinks take medirectly to an article without making me flip through the pages…... and i can read in bed without a light after my wife goes to sleep . [ j o n at h a n s e f f, m a c w o r l d ]

simplicity & finishability. no one
ever asked for The economisT to be longer. o u r l e a n - b a c k d i g i ta l s t r at e g y i sR A D i c A L s i m P L i c i T Y. i t w a s a c o n s c i o u s editorial decision to strip out our w e b i n n o vat i o n s — i n m a n y way s t h i s was harder than keeping them. so Why did We do this?

lean back 2.0 % of
respondents using tablets while... w at c h i n g t v ly i n g i n b e d w i t h f r i e n d s / f a m i ly waiting for someone other i n t h e b at h r o o m in a meeting/class running errands commuting0 20 40 60 80 [ p e w r e s e a r c h ( u s ) i n a s s o c i a t i o n w i t h t h e e c o n o m i s t g r o u p, o c t o b e r 2 0 1 1 ]

lean back 2.0 q. how
much time in total do you think you will spend reading the economist ipad app this week?25% 25%20% 20%15% 15%10% 10%5% 5% none less than 15-30 30 mins 1–1.5 1.5–2 2–2.5 2.5–3 3–4 4 hrs 15 mins mins – 1 hr hrs hrs hrs hrs hrs and up [ s o u r c e : t h e e c o n o m i s t u k i p a d s u r v e y, j u l y 2 0 1 1 ]

immersed in the content: 4
2 % o f ta b l e t n e W s r e a d e r s r e g u l a r ly r e a d i n - d e p t h neWs articles. another 40% sometimes do this. t h e y a r e t h r e e t i m e s a s l i k e ly t o r e g u l a r l y r e a d i n - d e p t h a rt i c l e s a s to wat c h n e w s v i d e o s . [ p e w r e s e a r c h ( u s ) i n a s s o c i a t i o n w i t h t h e e c o n o m i s t g r o u p, o c t o b e r 2 0 1 1 ]

tablet news users read in-depth
articles but share news less. participatory news is a part of the mix but even among the young (19-25) less than 1 in 5 share news on the tablet regularly. 42% o f ta b l e t neWs users read in-depth articles 16% o f ta b l e t neWs users share neWs on social netWorks [ p e w r e s e a r c h ( u s ) i n a s s o c i a t i o n w i t h t h e e c o n o m i s t g r o u p, o c t o b e r 2 0 1 1 .ta b l e t n e w s u s e r s a r e d e f i n e d h e r e a s t h o s e w h o c o n s u m e n e w s o n t h e i r ta b l e t s at l e a s t w e e k ly ]

reading, not browsing i t
’ s h a r d to b r o w s e t h e w e b w i t h a n i pa d . [ m i r at e c h w h i t e pa p e r , j u ly 2 0 11 ] eye activity and its on a website corresponding app [ s o u r c e : w w w. m i r at e c h . c o m / b l o g / u s e r - t e s t i n g - i pa d - v s - c o m p u t e r ]

reading, not browsing i t
’ s h a r d to b r o w s e t h e w e b w i t h a n i pa d . [ m i r at e c h w h i t e pa p e r , j u ly 2 0 11 ] people who mainly use apps for news are more active tablet users in general. they are more in-depth readers and were more satisfied with their tablet news experience. some even stated that the content they get here is worth more than content on other platforms. those who mainly use apps are also twice as likely as browser users to read magazines daily on their tablet (13% vs 6% browser, 9% both).[ p e w r e s e a r c h ( u s ) i n a s s o c i a t i o n w i t h t h e e c o n o m i s t g r o u p, o c t o b e r 2 0 1 1 ]

reading, not browsing m a
i n ly a p p s m a i n ly b r o w s e r 53% 46% 26% 21% 22% 11 % easier to learn enjoy the the news is new things news more worth more [ p e w r e s e a r c h ( u s ) i n a s s o c i at i o n w i t h t h e e c o n o m i s t g r o u p, o c t o b e r 2 0 1 1 ]

the fastest speed of change
our industry has ever experienced. the kindle launched on november 19th 2007. the ipad launched on January 27th 2010. tablets and e readers are rapidly eclipsing paper and rival screens. we had centuries to adapt to print. decades to adapt to the web. we have to adapt to lean-back 2.0.

the fastest speed of change
our industry has ever experienced. i spend more time each day on my tablet than i... r e a d a pa p e r b o o k 59% listen to the radio 52% use my 43% desktop/laptop use my 41% smartphone w at c h t v 34% 11 % none of the above 0 20 40 60 [ s o u r c e : a d m o b , u s s u r v e y j u ly 2 0 11 ]

news consumption is changing: people
are already using the tablet to get news they used to find elsewhere— primarily their desktop or laptop. 59% used to get their news from a print 79% newspaper or magazine used to get theirnews from a desktop or laptop 57% used to get their news from television source: pew research ( u s ) i n a s s o c i at i o n w i t h t h e e c o n o m i s t g r o u p, o c t o b e r 2 0 11

the difference 2 years will
make: current preference vs expected preference in 2 years 100% 80% current in 2 years 60% 40% 20% print website website s m a rt- ta b l e t e-reader audio social pa i d free phone app app edition media[ r e s p o n d e n t s : s u b s c r i b e r s a g e d 4 0 + . s o u r c e : b r a n d a s s e t ® va l u at o r u s a , 2 0 11 — t h e e c o n o m i s t c u s t o m s t u d y ]

sales of tablets, smartphones and
e-readers are set to grow fast: tablet sales forecast 2010 — 2015 , 326m 18m 64m 252m 178m 104m 2010 2 0 11 2012 2013 2014 2015 b y 2 0 1 5 , t h e s m a r t p h o n e m a r k e t w i l l h av e g r o w n f r o ma r o u n d 4 5 0 m d e v i c e s t o d ay t o 1 . 1 b n ( a n d r o i d , w i n d o w s , i o s , r i m ) . by next year , 1 2 % o f u s a d u lt s (28.9m people) w i l l ow n a n e - r e a d e r . [ source: gartner, emarketer ]

economist readers in particular are
buying these devices: over 50% o f o u r u s r e a d e r s o w n a ta b l e t o r e-reader oR plan to buy one in the next 12 months 28% o f e c o n o m i s t r e a d e r s o w n a ta b l e t / e - r e a d e r 20% o w n a n e - r e a d e r 11% o w n a t a b l e t 23% p l a n t o p u r c h a s e a n e - r e a d e r / ta b l e t within the next 12 months 17% p l a n t o p u r c h a s e a t a b l e t within the next 12 months [ m e n d e l s o h n a f f l u e n t s u r v e y 2 0 11 ( u s ) ]

the proportion of us adults
using e-readersnearly doubled from 2010-2011 and is now 15%. agree—i use an electronic reader, such as a kindle, an ipad or a nook, to read books: 15% 8% 2010 2011 [ m e n d e l s o h n a f f l u e n t s u r v e y 2 0 11 ( u s ) ]

the tablet effect: because of
the growth [of tablets and e-readers], paper use for print media including magazines,newspapers, and books will have declined by as much as 21%, compared to their 2010 production rates. additionally, over the next 15 years, production could fall by 40—50%. [ risi global study (2011) ]

audience: l e a n
- b a c k r e a d e r s a r e t h e m a s s i n t e l l i g e n t. a global psychographic, not a demographic.interested in ideas. receptive to new concepts. c ata ly s t s f o r c h a n g e . w e l i v e i n t h e i r w o r l d .

audience:the economic product of the
united states has become predominantly conceptual. [ alan greenspan ]

audience: elite media mass intelligencedemographics
mass media small big market size

audience:W e a r e
o f t e n t o l d t h at t h e o n ly Way f o r m e d i a c o m pa n i e s t o s u r v i v eis to dumb doWn; that young people have narroW attention spans so everything needs to be delivered in sound bites. that is not true. 26.8m people 8.5m visitors 8m copies of 28.2m now listen to the louvre civilisation subscribers to npr video game to hbo series sold

audience: pay t v h
a s s h o W n t h at va l u e i s c r e at e d a n d e X t r a c t e d t h r o u g hi n v e s t m e n t i n Q u a l i t y c o n t e n t. d ata s h o W s t h at m o r e p e o p l e Wa n t t o b e challenged by What they read, Watch and listen to than ever before. it is a mass phenomenon that We call mass intelligence. © warner bros, 2011 © sky and hbo, 2011 “nolan cashed in his hard-earned “sky atlantic hd is unashamedly artistic and financial freedom with d e d i c at e d t o q u a l i t y. inception, the $160m auteur vehicle t h at p r o v e s r e a l ly e x p e n s i v e m o v i e s sky atlantic hd is a key part ofd o n ’ t h av e to b e s t u p i d to b e s u c c e s s f u l . our strategy to help further grow the content gap between what you it’s a film that imagines that the multi- can get with sky and what you can plex masses aren’t so dumb after all.” get elsewhere.” mark kermode, film critic s t u a r t m u r p h y, d i r e c t o r o f programmes (sky 1 and sky atlantic)

audience: mix andpeople who read/
peoplewatch/attend at magazine least two of... us weekly the oprah magazine 33% the economist the new yorker the atlantic 39% sports hbo illustrated art galleries espn live theatre classical 32% concert family guy the simpsons saturday night live american idol [ source: mri, fall 2007 ]

audience:a truly mass phenomenon: ‘
W e l l d o n , m y s u n ’ : a n i g h t at t h e o p e r a f o r 2 , 2 0 0 s u n r e a d e r s m a d e w av e s a r o u n d t h e w o r l d i n a n a m a z i n g m o m e n t i n b r i t i s h c u lt u r e . t h e o p e n i n g n i g h t o f m o z a r t ’ s d o n g i o va n n i at l o n d o n ’ s r o ya l o p e r a h o u s e w a s pa c k e d t o t h e r a f t e r s e x c l u s i v e ly b y s u n r e a d e r s . [ source: thesun.co.uk, september 2008 ]

audience:and their ranks are growing...
international student numbers 3.5 million 3 million 2.5 million 2 million 1.5 million 1 million 500,000 1975 1980 1985 1990 1995 2000 2005 2009 [ source: unesco, 2009 ]

audience: smart is the new
cool.1982 2002

the way forward

the way forwardreinvention is required.t
h e o l d m o d e l s a r e i r r e d e e m a b ly b r o k e n .the Web didn’t satisfy our appetite for thep r i n t e d W o r d . l e a n - bac k d i g i ta l w i l l .everything is back to normal—apartf r o m t h e p r o d u c t, t e c h n o l o g y, p r o d u c t i o nprocesses, subscription and neWsstandmarketing and advertising sales.We must not adapt legacy models, We must buildreader-led business models from scratch.

what does thismean for media
businesses? editorial product business models marketing advertising production

product: rs se t ug
o re r le a b d i n at h e o o rf t r e at s r v i d s ) . % c r e 7 1 r e f e g fa e s o t u r p rin tur pic a c r o h e n p ir e f e s t e a re n th n. th 6% p a mp t i io (2 c o s p l i u l at is n p th ve o t e l p ou an nera e a b e ly ge ar lik d rs s as rea as se e y . s u im rl les os e w e e tg u l ar t i c v i d e n r th o re th a ews t ep h n d i n - w atc t o [ source: pew research (us) i n a s s o c i a t i o n w i t h t h e e c o n o m i s t g r o u p, o c t o b e r 2 0 1 1 ]

product: the rebirth of reading
means the rebirth of writing. i n v e s t m e n t i n h i g h - q u a l i t y, l o n g - f o r m j o u r n a l i s m i s n o t c o m p l a c e n c y, i t i s b a s e d o n a u d i e n c e i n s i g h t. i t i s n o t o n ly T h e e c o n o m i s T t h at c a n p u l l o f f t h i s t r i c k . t h e m a s s i n t e l l i g e n t a r e a b i g m a r k e t.

product: better how? l e
a n - b a c k d i g i ta l i s n o t l e a n - b a c k p r i n t. the medium will shape the media. w e a r e j u s t b e g i n n i n g to i n n o vat e to e x p l o r e i t s p o t e n t i a l to i n c r e a s e r e a d e r va l u e . example 1: example 2: multi-platform bundling audio edition

product: how a news organisation
works is changing. a p r o l i f e r at i o n o f d e v i c e s , f o r m at s a n d way s to e n g a g e t h e r e a d e r d e m a n d s n e w s k i l l s , n e w c a pa c i t y and new structures.

product: a s W e
l l a s m a k i n g t W i t t e r , fa c e - b o o k a n d g o o g l e pa r t o f t h e n e W s e c o s y s t e m , the internet has also made possible e n t i r e ly n e W k i n d s o f s p e c i a l i s t n e W s o r g a n i s at i o n s — i n c l u d i n g a h o s t o f n o t- f o r - p r o f i t n e W s o r g a n i s at i o n s t h at r e ly o n p h i l a n t h r o p i c f u n d i n g a n d s p e c i a l i s e i n pa r t i c u l a r k i n d s of Journalism. m a n y o f t h e s e n e W o u t f i t s c o l l a b o r at e W i t h t r a d i t i o n a l n e W s o r g a n i s at i o n s , ta k i n g a d va n ta g e o f t h e i r b r o a d r e a c h a n d t r u s t e d , e s ta b l i s h e d b r a n d s . tom standage, digital editor, the economist

product: develop new reading opportunities...

relaxing at home • on
the plane • out and about • on the run on the move • waiting for the train •with the family

product: don’t turn your back
on your readers. l e a n - b a c k d i g i ta l’ s r e l at i o n s h i p w i t h t h e w e b w i l l n e e d s o rt i n g . t h e n e w y o r k p o s t d o e s n o t s e e m t h e way to g o : thanks for coming! n y p o s t. c o m e d i t o r i a l c o n t e n t i s n o W o n ly a c c e s s i b l e o n t h e i p a d t h r o u g h t h e n e W y o r k p o s t a p p. [ s o u r c e : n y p o s t. c o m / i pa d r e d i r e c t / ]

product: business modeldon’t turn your
back on your readers. l e a n - b a c k d i g i ta l’ s r e l at i o n s h i p w i t h t h e w e b w i l l n e e d s o rt i n g . t h e n e w y o r k p o s t d o e s n o t s e e m t h e way to g o :

business model:we need to move
beyondthe pay–barrier debate. advertising revenue will never support the commissioning model for high-end journalism. ad revenue from building scale will not k e e p pa c e w i t h t h e c o s t o f c r e at i n g distinctive content to build audience. T h e G U A R D i A n m ay n e v e r s u s ta i n h i g h - q u a l i t yj o u r n a l i s m d e l i v e r e d f o r f r e e w i t h o u t c r o s s - s u b s i d y.

business model: the broken paywall
model: r e a d e r s w i l l n o t pay f o r c o m m o d i t i s e d products in sufficient numbers. generic content does not provide enough va l u e to c o m p e t e w i t h f r e e .T h e T i m e s m ay n e v e r b u i l d a s u s ta i n a b l e s u b s c r i b e r b a s e i n i t s c u r r e n t f o r m w i t h o u t c r o s s - s u b s i d y.

business model: there are lots
of functional media models. all successful models are underpinned by reader insight a n d a b l e to c r e at e a n d e x t r a c t va l u e at l e s s t h a n t h e c o s t o f c r e at i o n . the the reutersgawker economist young breaking turks viewsfox news mashable mumsnet financialchannel times

business model: u n d
e r s ta n d r e a d e r s . w o r k o u t h o w to c r e at e va l u e f o r t h e m a n d e x t r a c t va l u e f r o m t h e m .what we’re prepared to pay for things is extraordinarily subJective andincredibly contextually determined. [ rory sutherland, chair, the ipa, uk ]

business model: the rebirth of
paid content amazon customers buy 3.3 times as many books a f t e r b u y i n g a k i n d l e — a f i g u r e t h at h a s a c c e l e r at e d i n t h e pa s t y e a r a s p r i c e s f o r t h e d e v i c e f e l l . [ wall street journal, august 2010 ] m o r e t h a n a q u a rt e r o f a p p u s e r s h av e pa i d f o r n e w s o n t h e i r ta b l e t, c o m pa r e d with just 5% of browser users. o f t h o s e w h o pay t h e va s t m a j o r i t y ( 8 6 % ) g e t n e w s o n t h e i r ta b l e t d a i ly a n d 5 3 % spend more time with news now than they d i d b e f o r e t h e y h a d t h e i r ta b l e t (versus 30% of all news users).[ s o u r c e : p e w r e s e a r c h ( u s ) i n a s s o c i a t i o n w i t h t h e e c o n o m i s t g r o u p, o c t o b e r 2 0 1 1 ]

not a zero-sum game: 75%
25% 50% 25% 0% with the launch the economist other people of the app i is interested in my household consider my in the needs read the subscription of its economist g r e at e r va l u e readers on my for money ipad/iphone [ source: fox insight july/august 2011. base: 1,204 ]

not a zero-sum game: global
mobile app + advertising revenue = $12 billion in 2011e revenue, up 17x in 3 years $15 billionmobile ad + apps spending $12bn $10 billion te ra h wt gro al nnu da oun $5 billion mp co 3% 15 $0.7bn 2008 2009 2010 2 0 11 e mobile advertising mobile apps [ s o u r c e : g a r t n e r , 2 0 11 . n o t e : a p p l e h a s pa i d > $ 3 b n t o d e v e l o p e r s a s o f s e p t e m b e r 2 0 11 , i m p ly i n g g r o s s a p p m a r k e t r e v e n u e o f $ 4 b n i n 3 y e a r s ; g o o g l e i n d i c at e d d u r i n g c q 3 e a r n i n g s c a l l t h at i t e x p e c t s $ 2 . 5 b n m o b i l e a d r e v e n u e i n 2 0 11 e ]

not a zero-sum game: reaching
new audiences previous experience of the economist by digital subscribers: print cancelled/ never had lapsed print subscribers suspended/ a print subscribers at p u r c h a s e not renewed subscription 6% 4% 77% 12% 77% of digital subscribers are new to us and 12% are lapsed.[ source: economist group customer database, august 2011 ]

not a zero-sum game: time
spent with news now compared with before owning a tablet 4% spend less time 65% 30% spend spend same amount more of time time[ s o u r c e : p e w r e s e a r c h ( u s ) i n a s s o c i a t i o n w i t h t h e e c o n o m i s t g r o u p, o c t o b e r 2 0 1 1 ]

not a zero-sum game: circulation
growth economist circulation volumes – september digital: 1,800 27% increase 1,600 1,400volumes (‘000) 1,200 1,000 800 600 400 200 2002 2003 2004 2005 2006 2007 2008 2009 2010 2 0 11 print d i g i ta l the right app has unlocked digital revenues for the economist.

not a zero-sum game: develop
mobile commerce % used mobile device to purchase the following: 18% 16% 14% 12%market % 10% 8% 6% 4% 2% auction bank credit electronic financial online stock sites accounts cards pay m e n t s news/stock r e ta i l trading quotes uk us jp [ s o u r c e : c o m s c o r e m o b i l e n s j a n 2 0 11 , m pa ]

not a zero-sum game:develop mobile
commerce of tablet users: want the ability to buy d i r e c t ly f r o m a d s s tat e d t h at t h e y wa n t to b e a b l e to purchase products and services d i r e c t ly f r o m e d i to r i a l f e at u r e s . t y p i c a l ly e n g a g e w i t h d i g i ta l m a g a z i n e a d s[ p e w r e s e a r c h ( u s ) i n a s s o c i a t i o n w i t h t h e e c o n o m i s t g r o u p, o c t o b e r 2 0 1 1 ]

business model:changing the economics of
distribution in print we struggle to deliver for t h e w e e k e n d i n m a n y pa rt s o f t h e w o r l d . p o s ta l d e l i v e ry i s e x p e n s i v e a n d i n c r e a s i n g ly u n r e l i a b l e .

ma r k e t
i n g

marketing: the five p’s reimagined:
product: t h e d e m a n d f o r i n t e l l i g e n t, i m m e r s i v e l e a n b a c k i s a b s o l u t e b u t t h e p o t e n t i a l f o r l e a n - b a c k d i g i ta l to deliver an enhanced experience is still to be explored. price: r e a d e r r e l at i o n s h i p w i t h c o n t e n t b e i n g r e d e f i n e d and there are few price-point benchmarks. place: we can be everywhere, but how much power should we allow d i g i ta l s a l e s c h a n n e l s , s u c h a s i t u n e s a n d a m a z o n , t o e x e r t ? promotion:t h e pa r a d o x o f i n f i n i t e c h o i c e m e a n s s o c i a l i s a k e y d r i v e r and in an age of media consumption as a form of social e x p r e s s i o n , h o w d o w e s tay r e l e va n t a n d a s p i r at i o n a l ? people: m a s s i n t e l l i g e n c e i s a g l o b a l m a r k e t, but how do we serve them?

advertising: opportunity or time spent
consuming media vs % of advertising spending, usa 2010 50% time spent 43% 43% advertising spend% of total media consumption time 40% or advertising spending 30% 27% 25% a $20 billion opportunity 20% 19% in the us 16% 11% 10% 8% 8% .5% print radio tv internet mobile [ s o u r c e : k p c b / e m a r k e t e r , m a r c h 2 0 11 ] tablet users tend to be more highly educated, employed full-time and have a higher household income than the us population overall. [ p e w r e s e a r c h ( u s ) i n a s s o c i a t i o n w i t h t h e e c o n o m i s t g r o u p, o c t o b e r 2 0 1 1 ]

advertising: Will need: n e
w c r e at i v e s ta n d a r d s new measures new skills new market

conclusion

conclusion lean-back 2.0 is not
the end. i t i s t h e l at e s t W av e o f d i s r u p t i o n . everything old is neW again. b u t d i f f e r e n t. and it is different again from the Web, Which meansit should be Just as scary for neW media brands, With no eXperience of delivering l e a n - b a c k c o n t e n t.but it is not a Zero-sum game.s u r v i va l a n d p r o s p e r i t y m e a n reimagining our business... ...all over again.

conclusion the big questions we
ask ourselves (and you might too) Will the medium change media? W i l l t h e r e l at i o n s h i p W i t h customers/readers change because of neW intermediaries? W h at W i l l a d v e r t i s i n g b e l i k e ? Who could steal our lunch? can We change far and faste n o u g h — a n d W h at i s s to p p i n g u s ?

conclusiondisruption is an occupational hazard:
the internet was not the first radical change t o h i t t h e m e d i a i n d u s t r y. s i n c e t h e 1 9 8 0 s t h e r e h a s b e e n w av e a f t e r w av e of technological change. m o s t h av e a d a p t e d . s o m e h av e d i e d . m a n y m o r e h av e ta k e n t h e i r p l a c e . m e d i a h a s p r o l i f e r at e d . T h e e c o n o m i s T h a s b e n e f i t e d f r o m a n d c a p i ta l i s e d o n f av o u r a b l e w i n d s o f c h a n g e : — globalisation —spread of the english language —the era of mass intelligence a n d W i t h l u c k t h i s i s t h e l at e s t …

the i(deas) pad:designed for the
ageof mass intelligence.

lean back 2.0 andrew rashbass,
chief executive the economist group n o v e m b e r 2 0 11