In the world of ‘Free’, who will pay the content bill?

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Keynote by Michel Lent for the DigitalAge 2.0 conference in Sao Paulo, August, 2010.

In an era of lots of content and not enough time, in the midst of the culture of ‘free’, a vital question worries the media outlets: if the traditional revenue streams for content have shrunk and there is still no alternative business models, how will media survive? And what’s our role as readers, brands, and advertisers in the future of the intellectual production?

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In the world of ‘Free’, who will pay the content bill?

  1. 1. Michel Lent Schwartzman In the world of ‘Free’, who will pay the content bill? In an era of lots of content and not enough time, in the midst of the culture of ‘free’, a vital question worries the media outlets: if the traditional revenue streams for content have shrunk and there is still no alternative business models, how will media survive? And what’s our role as readers, brands, and advertisers in the future of the intellectual production? @lent
  2. 2. premisses
  3. 3. Intellectual professional work costs money
  4. 4. The culture of ‘free’ on the internet is, in fact, an illusion
  5. 5. Somebody is paying the content bill, but will not keep doing it for very long
  6. 6. “The advent of the Web has had the effect of a massive asteroid impact to the classical business ecosystem.” - Dion Hinchcliffe, Founder, Web 2.0 University http://www.zdnet.com/blog/hinchcliffe/what-will-power-next-generation-businesses/1076
  7. 7. Solution?
  8. 8. 1. Understand the context 2. Search for the ‘awesome’
  9. 9. 1. Understand the context
  10. 10. It used to be like this...
  11. 11. Production and publishing costs were high and thus restrict
  12. 12. Only big corporation were able to play
  13. 13. Content production was kept by sales and advertising
  14. 14. Advertising model was based in exposure
  15. 15. Product sales (records, movies, books) were controlled and limited by shelf space
  16. 16. It is getting like this...
  17. 17. Technology has lowered production costs
  18. 18. And made available publishing tools to anyone
  19. 19. Big corporations side-by- side with new players
  20. 20. Virtual shelves make product options unlimited
  21. 21. Audience is pulverized among infinite content options
  22. 22. The content industry is transformed in long tail
  23. 23. The new (old) rules
  24. 24. Shelves may be infinite, but our day will always have 24 hours.
  25. 25. The industry has changed but the business models are still the same: Advertising Sales
  26. 26. It’s only in the head of the long tail that corporations get the volume of revenue they need to operate
  27. 27. To be at the head of the long tail is corporations today’s ‘holy grail’
  28. 28. But corporations do not control channels any longer
  29. 29. Then, how to get to the head of the tail?
  30. 30. 2. search the ‘awesome’
  31. 31. What determines being in the head of the tail is no longer economic power, but social power, the power of the individuals
  32. 32. The individual filters, likes, shares and pushes the content, services and other products he likes to the head of the tail
  33. 33. But how to be liked? Filtered? Shared? What’s the recipe to become viral?
  34. 34. In plain English:
  35. 35. make awesome stuff.
  36. 36. “When we can find more efficient ways to sell stuff, we don't have to make better stuff. (...) We invest in selling stuff better.” - Umair Haque, “The New Capitalist Manifesto”
  37. 37. Awesome examples
  38. 38. “The best business model in the world is also the simplest: make stuff that's insanely great.” “When you can make awesome stuff, you don't need to find "better" ways to sell it.” - Umair Haque, “The New Capitalist Manifesto”
  39. 39. Build awesome stuff and they will come: audiece, advertisers and consumers.
  40. 40. Thank you! twitter: @lent michel.lent@gmail.com

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