Last week, I discussed a recent article by John Batelle: Packaged Goods Media vs. Conversational Media. John has released part 2 of this series, which explores the differences between traditional media and interactive media:
“Not owning or controlling the content? Not owning or controlling the audience? Not having total control of your advertising and subscription revenue? Impossible!”
He describes the costs of managing a traditional media company:
“Take a look at the economics of nearly every traditional media business, and you will see that the majority of its operating costs have to do with either consumer marketing (acquiring audience), or manufacturing and distribution (creating the package – not the content, mind you, but the package the content is in – and delivering that package to the audience). Content creation – the actual product – represents a minority of operating costs.”
The rest of the piece lay out the “Attributes of Conversational Media.”
- Conversation over Dictation.
- Platform over Distribution.
- Service over Product.
- Iteration and Speed Over Perfection and Deliberation.
- Engagement over Consumption.