[2010 trends] Media, audience are content co-creators

Multiple revenue streams and innovative business models:

Media businesses will increasingly look to create new payment gateways and find opportunities to get someone to pay for what they create, beyond just advertisers. In Germany there is a media company that makes more money from selling branded T-shirts than from advertisements.

Rupert Murdoch has been threatening to find a way to prevent Google from crawling and searching the content of his titles without any meaningful benefit for his brands. Advertising revenue just will not cut it. He needs to find new ways to monetise the access.

There is a conversation happening with Microsoft to see whether making the sites searchable by the engine, that's willing to pay for the privilege, is workable. Media companies know that they can't sustain themselves on a ‘free' model. Expect lots of change and innovation in this space.

The Attention Economy:

The business of media is either in major blockbusters, heavily marketed that capture the imagination of the general populace and become a key point of confluence and conversation, or in specialised niches. Media audiences will give their time and attention to value. If you're providing something that can't be found somewhere else at an irresistible price (free?) and in a way that is convenient to me, I'll try it. Just don't waste my time!!

Trusting the ‘tribe':

Everyone's trying to sell you something. When you enter a search phrase on Google - you get so much information, you're not sure who to trust.

Human beings want to hear about the experiences of others. It's been this way since we emerged from the trees. There was a time when the view of one ‘trusted' expert source was enough. Today, we're happier when hundreds of humans have a similar view allowing us to have the confidence to make a decision. Technology has made it possible for us to glean a truly global view on everything.

Media companies that give their audiences a platform to express themselves will continue to benefit as these communities sustain themselves and become places where ‘like minded' people gather to share their experiences and passions.

Circus Maximus

Some things are still worth paying for and scheduling our lives around.

Despite being able to watch what we want, when we want it and where, people still want to congregate around certain time-specific activities with all the hassle of parking, traffic and inconvenience. Consumers will download Cold Play music without paying for it but will still pay to go out and watch them in concert.

Technology can't substitute these live events and the basic human desire to commune. I think that it's coded into our genes. Humans want in-the-flesh communal experiences, whether at places of worship, sports events or rock concerts.

Radio stations will focus on what can't be substituted:

Radio stations know that they must exploit iPod and MP3 device weaknesses. Programming that you can't get anywhere else is the key to radio's survival. John Vlismas uncensored, weekly on Mondays at 10pm on Jacaranda 94.2, at no charge, anyone?