More Consumption of Media — Less Revenue?

by Dan Blank on February 24, 2008

Media Consumption as the World Rushes byRolling Stone has an article profiling record producer Clive Davis, titled “The Last Record Man.” (no link because its not on their website.) Clive characterizes the current state of the music industry:

“You get rich in this economy by finding a way to charge for what has already been free. Water. TV. Radio. But the music industry has been moving in the opposite direction, with consumers expecting to get for free what they had always purchased… The overall consumption of music is at an all-time high – it’s bigger than it’s ever been. It’s just a question of getting people to pay for it.”

How far off is this from the situation within other media, including newspapers and magazines?

In many ways, there is a renaissance of consumption and creation of all types of media. Yet, media businesses are still working to find stable business models for themselves, whether they focus on traditional or new media.

It’s a fascinating time to be in publishing – especially B2B publishing which is how I spend my days. There is so much opportunity; so many ways to connect your readers with solutions that drive their business forward; and yes, so many new business models that morph the traditional way business is done. If you are in publishing today – you are shaping the next 50 years of its existence.

Perhaps its just the coffee kicking in, but sometimes I can’t wait for Monday.

Photo by Moriza

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