New Media a money making machine or just part of a bigger machine
In the 1980s, TV series that were in TV syndication for their second run began moving to basic cable networks, the new media of that era. "Now downloads are the new media for network series.
We are now in a world of old media, new media and the newer new media. The new media encompasses video on demand, direct broadcast satellite TV and Internet advertising, all about a decade old. A generational gap appears between them and the "newer" mobile TV, advertisements in video games, wireless/WiFi broadband and mobile TV
The newer new media is mobile and offers personalization in which consumers control delivery but because speed of delivery and the size of the new media there actually are limits to what they can download. This is in contrast to the traditional model in which old media publishes content once on its schedule."
The old media, including broadcast stations, newspaper and magazines, may be old and slow growing and it is said they are not to be dismissed lightly. In lining up these media by revenue, old media is more impressive in terms of size, while the new and newer media has the sizzle of rapid proportional growth.
Satellite radio's heavy spending for content by grabbing Howard Stern and well known sport events has captivated the press and investors. Unfortunately for them satellite radio was just an $800 mil. revenue business in 2005, compared to $20 billion for broadcast radio. (People tend not to want to pay for what they can get for free elsewhere.)
The possibilities for interactive TV are great, but it still was a relatively meager $100 mil. revenue business in 2005, versus $29 billion for regular TV programming.
Old, new and newer media constantly collide. Newspapers endured a drain in advertising to first generation Internet Web sites and search engines, but are now in the Web site business themselves. It is said the survivors will be those that figure out how to embrace the new and bring their old media into the digital age.
The basic problem here is that only a few really understand how to make it work and those people are generally ignored because they don’t stay the things that those with the big money wants to hear.
This being first that content is still king. The internet has great possibilities but without content you have no choice. If there is no choice then personalization in which consumers control delivery does not exist.
Second the new media should not be looked upon as a primary source of money but as a ancillary source for old media. It should be looked on like part of a advertising plan like flyers to let people know what your doing. The possibilities to get to large amounts of people at a low cost are great here.
There are also too many variables that limit the new media as a primary source of income. Storage size for mobile media is a problem. Connection speed is a problem. Legal actions by talent that want a piece of the action. Over saturation of really bad newly created programming.
Add to this media changed with the use of demographics and for the worst. It changed radio, television, motion pictures and publishing. If you start to target people by use of demographics first you chase audience away and you put all your eggs in one basket when a wide loop is always the best use of ones advertising money.
Look at the new media and see that the money is going to targeted campaigns when if spread it out over the net you get more bang for the dollar invested. Hitting millions that might be interested in what your pitching is much better for your investment then hitting thousands that might be interested in what you have to pitch.
William Hoehne
