As the CEO of the fastest growing and most accurate business directory created by users, I am constantly meeting with media executives and learning first-hand about the latest business models and ideas that are shaping the future of the media landscape. From meetings, road shows, events, and conferences, I've noticed that the online media is coming alive with vibrant new possibilities. The reason? You! (aka the "users".)
Here's a few tales from my neighborhood (literally) which illustrate what's going on and how pervasive user-contribution is becoming across publishing:
1. The music industry and the conversation between artists and audience.
Take a look at our friend and neighbor's son Samuel (The Wiz) Adams music video "I hate college" on YouTube with nearly one million views; posted as a response to Asher Roth's hit "I love College". Sampling and mash-ups are redefining the form of music and the result is that instead of simply listening to each others' music, artists are inspiring recreations and responses.Joe Public is not only getting in on the act, but is redefining the industry. Music performers and audiences are having a real-time conversation, right now.
Sam is currently negotiating a record contract with one of the major labels, which looks like a win-win for the music industry and these new stakeholders in the equation...the public.
2. Japanese anime and consumer reverb.
On one of our regular tours of live music venues around Boston Ian Condry, Professor of Japanese Cultural Studies at MIT filled me in on online sharing (or piracy) in the circulation of Japanese cartoons, or anime, which turns out to be vital to the industry and to the transnational flow of Japanese culture to and from America and Europe. Kids around the world love Yu-gi-oh, Pokemon, and its more upper-teen versions such as Mushi-shi, a bizarre, otherworldly suspense series. The anime industry is a master of multiple forms and is a publisher's dream.
Anime pops-up everywhere, from cartoons to trading cards to video gaming and movies, and relies on a connected network of users/creators that keep the industry alive. Ian tells of a strange world of "in-between" animators: talented kids who live, sleep and eat as an integral part of anime production. But maybe more important are the unpaid non-Japanese fans or "fansubs", who add translated subtitles and then distribute the latest, hard-to-get anime. Anime is an evolved example of how electronic media resonates through a conversation with its fan base and creators regardless of national boundaries.
3. Newspapers are welcoming users between the sheets.
Newspapers have figured out that virtual real estate on their website isn't as confined as print space. Newspapers are putting the increased column space on websites to good effect by letting the smartest minds compete for guest columns. Take a look at my old college friend Anthony Goodman's column on the FT. Anthony describes the arrangement as a clear win-win. The newspaper get high quality, free content. The writer gets the platform and the voice that is leveraged across their business and career.
4. Book publishers close their eyes and jump into the ether.
There is a lot of talk and uncertainty in the book publishing industry which is due to dive into digital with the arrival of ebook readers like Kindle and now the Apple iPad. The possibilities are endless. We are clearly at the beginning of the digital evolution of the book, and the potential changes in form and user behavior are as yet unclear.
The "book" as we know it in physical form, is the ghost in the digital machine that both publishers and users have yet to exorcise. What does that mean exactly? Our current concept of a book is retstricted by physical properties based on old-world paper and printing technologies. There is no reason why the book needs to be so resticted in the digital world. At its core, the book is a story, and stories can be of any size, length, format, or style. Authors who share their stories with this new technology will do so in living and vibrant ways, including the integration of other media. The possibilities as are exciting as they are endless.
5. Even business information is embracing its users.
Business information directories have been a mainstay to B2B sales and marketing for years. Until recently, this was an industry corner with countless niche vertical directories, and a byzantine marketing list industry where, believe it or not, information still remains offline in 2010.
Users to the rescue! If a sales person collects 100 leads form a trade show, typically he may sell to 5 or 10 of these prospects. The remaining 90 are a useless by-product of the sales process.
NetProspex allows sales people to trade those contacts into the NetProspex database to get targeted new contacts in a one-for-one exchange. By pooling business contacts, B2B sales and marketing executives can avoid a major friction in the selling process, finding targeted potential buyers. The challenge with any directory is that about 25% of people change jobs each year, and information soon gets out of date. NetProspex solves this by providing quality control on the content to make sure it's accurate. NetProspex has thousands of users who have contributed almost 10 million business contacts, complete with names, titles, phone and email. By removing wasted time and friction spent time digging for basic prospect information, users simply spend more time marketing and selling to well targeted prospects.
So, no matter the medium – books, digital music, visual media, business informaton – users are getting in on the act and content is coming alive as a result. Like all living things, evolution is continually occuring as users find new ways to work with content. For publishers and users alike, these new forms provide vastly increased opportunities and ways to deliver value.
