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In the new world, the niche channels become your primary business. That is the only thing people are willing to pay for.
I was listening to the many sessions at the PaidContent2011 conference, and I was shocked. They were using all the right words, "paid, content, quality, direct relation, value, etc." But they didn't know what to do with them!
One really embarrassing session called "Quality, Quantity & Mass Content," with people from Reuters, Forbes, and Yahoo, lack all forms of energy, no answers, no vision-nothing!
At the end of the session, a person asked, "How can we transition from page views to quality content?" It was a great question!
So, Chris Ahearn, President of Reuters Media said, "I hope you have the answer to that." Looked over at Lewis Dvorkin from Forbes Media and asked, "Do you know?"
Dvorkin said, "No, I don't know anything."
You hear that? That is the sound of giants falling.
There were a few exceptions. The session "Cracking The Area Code: The Local View", about local media was very interesting. And while it didn't reveal anything new, the session with Financial Times and their paywall was also very positive.
Note: We are still waiting for PaidContent to make the event available for viewing on demand.
PaidContent2011 lacked a clear understanding of the new world. It is not really compatible at all with the old world. It changes your core market. Tablets, devices, new content plans, etc, don't mean anything if you still operate in the old market.
Note: Image credit: Walt Disney Comic and Stories - 1951
We are at the early start of the transition. The current disruption of media is nothing compared to the much bigger disruption that is coming. The new world is fantastic.
But there is no mass market, which means there are no huge media entities. And you really have to flip your entire world upside down.
In order to understand why the traditional world is falling to pieces, let's take a quick look at how we got here.
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"Thomas Baekdal is one of Scandinavia's most sought-after experts in the digitization of media companies. He has made himself known for his analysis of how digitization has changed the way we consume media."
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