from my blog.  The Essays: Selling Against Ourselves 6/27/2006  The On-Demand Trap 5/24/2006  The Real Threat to Local Broadcasters 4/24/2006 10 Days That Unexpectedly Changed Me 4/16/2006 Investing in a Local Future 3/27/2006 New Metrics and Principles 3/5/2006 The Ammunition Business 2/2/2006 The Economy of Unbundled Advertising 1/3/2006 The Unbundled Awakening 12/22/2005 Trusting the Audience and the Readers 11/28/2005 The Unbundled Newsroom 11/9/2005 The Remarkable Opportunities of Unbundled Media 11/1/2005 The Jewel of the Elites 10/3/2005 The Matter of "Getting It" 09/15/2005 The Elevation of Experience 07/05/2005 Chaos at the Door 06/22/2005 Stations Must Embrace Personal Tools 05/30/2005 A Wolf in Aggregator Clothing 05/20/2005 The Web's Paradox of Power 04/6/2005 The Convergence Advertising Trap 03/10/2005 The Devaluation of Information 02/22/2005 Searching for the Bottom 02/15/2005 Re-thinking News Promos 01/26/2005 Convention versus the Internet 01/22/2005 2005: A Year of Trouble for Broadcasters 12/29/2004 A Broadcaster's Christmas Carol 12/13/2004 Overcoming Formula Addiction 11/15/2004 When Supply Exceeds Demand 09/27/2004 Beyond Portal Websites 09/07/2004 Local TV's New Deadlines 08/05/2004 The Power of Attraction 08/02/2004 The Value of Local Search 07/20/2004 Beyond the World Wide Web 07/02/2004 Of Liberals and Networks 06/13/2004 The Assumption of Trust 05/27/2004 The Busine$$ of RSS 05/21/2004 News As A Sporting Event 04/27/2004 The Genius of OhmyNews! 04/15/2004 The New Public Relations 03/24/2004 TV's Measurement Conundrum 03/12/2004 The Demographic Candle 02/17/2004 The Unobvious Result of the Web 02/03/2004 The Future is Multimedia 01/26/2004 News Is A Conversation 01/13/2004 Beyond RSS Aggregators 12/31/2003 2004: Time For Action 12/17/2003 Argument Versus Objectivity 12/05/2003 Chaos in the Feedback Loop 11/25/2003 TV's Four New Media Mistakes 11/17/2003 The Live Coverage Revolution 11/07/2003 News Anchors: An Endangered Species 10/30/2003 The Challenge of Advertising 10/22/2003 The Defensive Newsroom 10/15/2003 Participatory Journalism 10/10/2003 Technology Is Not The Enemy 9/29/2003 Reinventing News for the 21st Century 9/24/2003 The Rise of the Independent Video Journalist 9/1/2003 The case for MTV 8/11/2003 TV Viewers and Internet Users Are Different 7/18/2003 Is TV News Giving Away The Future? 5/1/2003 A Postmodern Wake-up Call 12/14/2002 The Lizard on America's Shoulder 9/1/1998 Interviews:Lisa Lambden 8/09/2005 Brian McLaren 5/24/2005 Tom Kennedy 3/22/2005 M.D. Smith IV 2/25/2005 Ed Cone 12/27/2004 Peggy Phillip 08/25/2004 Tim Hanlon 06/21/2004 James Marsh 04/01/2004
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 With the exception of the essays entitled "TV News in a Postmodern World," all material created by Terry L. Heaton and included in this Weblog is licensed under a Creative Commons License. |
Terry Heaton's PoMo Blog   yourself for the 21st century or die! Some would rather die than change." Leonard Sweet, cultural historian. 10/30/2006 Entry: "The Wisdom of the Opposite" One of the most insightful voices in the media world today is that of Chris Anderson, author of The Long Tail and a blog by the same name. Anderson's genius is in his understanding of economics in the new world, and the book is a must-read for anybody who wants to do business in Media 2.0. In a presentation at Pop!Tech, Anderson spoke of what he calls the "Economy of Abundance," which is what we find now that anybody can be a publisher or broadcaster. Our old models are all built on scarcity. Heck, advertising rates are built on scarcity, so talking about abundance is counterintuitive to Media 1.0. Thankfully for all of us, Ethan Zuckerman was at the presentation and posted a delightful summary, including these four "business changes" that we all would do well to study:
The first business change is the one that fools most broadcasters (and all media companies), because our training and instincts demand that we have a profitable business plan in front of us before proceeding to do anything. This is a trap in the Media 2.0 world, because entrepreneurs in the space aren't so bound. Consequently, they leapfrog companies who, for a very small investment, could be seizing the low-hanging fruit that these entrepreneurs are seeking. By the time they "build the business afterwards," it's too late to get into the game.
For media companies, this "wisdom of the opposite" is more than a script in a sitcom; it's a real-world challenge to all of us, and getting past it is what will free us to engage the real competition of the Media 2.0 world.
Replies: 1482 comments hey terry, great minds must think alike, eh? Posted by sean coon @ 10/30/2006 01:49 PM CST Hi, Sergey. I know you hired me to build ad revenue at this new company you call Google. So here's my idea. I think there is more money in pennies per click as opposed to dollars per thousand. Really, there is much more money outside Madison Avenue. I think if we build it, we'll start racking in the dough. So let's build it - do I have your green light? Posted by Randy Hoffman @ 10/30/2006 06:26 PM CST Great minds, indeed, Sean. LMAO, Randy. Posted by Terry @ 10/31/2006 11:00 AM CST
Leonard Sweet |
In my presentations, I often use a slide featuring a picture of George Costanza from Seinfeld and a quote of George's from one of my favorite episodes,