This past week the 2010 New Media Academic Summit was held at NYU. One of the most interesting panel discussions covered the new models for media brands. Or more correctly, how every company – and person – can be a media brand and what it means for existing media, advertising, and product/service based concerns.
The panelist were David Carey of Conde Nast and Jonathan Miller of News Corporation. Here are the top takeaways from the conversation.
- It’s the ‘all’ media business because traditional silos – print, video, radio – no longer exist.
- Content must have a clear value proposition to avoid being commoditized and commoditized content will be forced to be free.
- Multi-revenue stream properties have been able to remain very profitable and will continue to be the best investments.
- Video is the gateway; there is a fundamental move to align around properties video.
- With property innovation rapid deploy and develop (i.e. split testing) is the name of the game; a process that requires the right team to knockout quick cycles.
- Media will move further upstream in the advertising flow; click-to-buy.
Session videos can be accessed on the conference site.