2. everything
is new again.
i have gradually become used to dividing
my reading into the work,
laptop info zone; and the chill, relaxing,
,
leisurely read of the tablet.
the laptop replicates the old newspaper
experience; the tablet replicates the book.
everything new is old again.
[ andrew sullivan, the sunday times ]
3. everything
is new again.
the rebirth of lean-back media
i s s e e m i n g ly a g e n t l e , r e a s s u r i n g c h a n g e
for media businesses.
i t i s a c t ua l ly a t s u n a m i t h at d e m a n d s
u r g e n t r e - e x a m i n at i o n o f e v e ry t h i n g
t h at c o n s t i t u t e s a m e d i a bu s i n e s s .
4. lean back
the first age: the second age: the third age:
lean-back print lean-forward web lean-back digital
ritual pleasure snacking and research, lean-back,
of reading c o m m u n i t y, s h a r i n g only better
5. the web demanded a
news is becoming a
shared social experience ,
with people swapping
links in emails, posting
on social networks,
‘retweeting’ news stories
and haggling over the
meaning of events in
discussion threads.
[ p e w i n t e r n e t & a m e r i c a n l i f e p r o j e c t, 2 0 1 0 ]
6. the web demanded a
the economist approach
to lean-forward web...
face-book
debates google
tumblr news
user ask the
comments economist
audio print online ideas youtube
flipboard edition content 7 million content arena
unique users
conversation by
cloud invitation
itunes the linkedin
economist
asks
twitter
[ source: omniture ]
7. the web demanded a
...that enabled us to build
a valuable global community .
successful
av e r a g e p e r s o n a l i n c o m e o f u s e r s
o f t h e e c o n o m i s t o n l i n e : $ 11 5 , 1 9 8 .
e d u c at e d
u s e r s h av e ta k e n a n av e r a g e
o f 4 e d u c at i o n c o u r s e s .
i n t e r n at i o n a l
t h e y to o k a n av e r a g e o f 1 4 b u s i n e s s
trips and 7 leisure trips last year.
i n f lu e n t i a l
almost 1 in 5 hold a board
d i r e c to r s h i p. 3 % h o l d o v e r f o u r .
[ s o u r c e : t h e e c o n o m i s t o n l i n e r e a d e r s u r v e y, 2 0 1 0 . b a s e : a l l r e s p o n d e n t s w o r l d w i d e i n e m p l o y m e n t ]
9. lean back
is different again:
print readers spend about
45 minutes with an issue each month.
readers using their iphone and ipad
spend an average of 160 minutes.
[ g q , va n i t y f a i r , w i r e d a n d g l a m o u r a p p r e a d e r s u r v e y, c o n d e n a s t 2 0 1 0 ]
65% of people have increased the amount
they read due to e-books, with 80% attributing
this to the of
reading a book digitally.
reading during ‘dead’ time was a key trend
with travelling (72%) and waiting for an
appointment (72%) proving most popular.
[ i m o d e r at e r e s e a r c h t e c h n o l o g i e s , d i g i ta l w o r l d b o o k c o n f e r e n c e 2 0 11 ]
10. lean back
is different again:
i never
really found
it very enJoyable
to read a magazine on my
computer or iphone.
but with the ipad it’s a
whole different story .
i can pinch out to zoom into
a section; hyperlinks take me
directly to an article without making
me flip through the pages…
... and i can read in bed without a light
after my wife goes to sleep .
[ j o n at h a n s e f f, m a c w o r l d ]
11. simplicity &
finishability.
no one ever asked for
The economisT to be longer.
o u r l e a n - b a c k d i g i ta l s t r at e g y i s
R A D i c A L s i m P L i c i T Y. i t w a s a c o n s c i o u s
editorial decision to strip out our
w e b i n n o vat i o n s — i n m a n y way s t h i s
was harder than keeping them.
so Why did We do this?
12. lean back 2.0
% of respondents using tablets while...
w at c h i n g t v
ly i n g i n b e d
w i t h f r i e n d s / f a m i ly
waiting for someone
other
i n t h e b at h r o o m
in a meeting/class
running errands
commuting
0 20 40 60 80
[ p e w r e s e a r c h ( u s ) i n a s s o c i a t i o n w i t h t h e e c o n o m i s t g r o u p, o c t o b e r 2 0 1 1 ]
13. lean back 2.0
q. how much time in total do you think you will spend
reading the economist ipad app this week?
25% 25%
20% 20%
15% 15%
10% 10%
5% 5%
none less than 15-30 30 mins 1–1.5 1.5–2 2–2.5 2.5–3 3–4 4 hrs
15 mins mins – 1 hr hrs hrs hrs hrs hrs and up
[ s o u r c e : t h e e c o n o m i s t u k i p a d s u r v e y, j u l y 2 0 1 1 ]
14. immersed in the content:
4 2 % o f ta b l e t n e W s r e a d e r s r e g u l a r ly r e a d i n - d e p t h
neWs articles. another 40% sometimes do this.
t h e y a r e t h r e e t i m e s a s l i k e ly t o r e g u l a r l y
r e a d i n - d e p t h a rt i c l e s a s to wat c h n e w s v i d e o s .
[ p e w r e s e a r c h ( u s ) i n a s s o c i a t i o n w i t h t h e e c o n o m i s t g r o u p, o c t o b e r 2 0 1 1 ]
15. tablet news users read in-depth articles but share news
less. participatory news is a part of the mix but even
among the young (19-25) less than 1 in 5 share news
on the tablet regularly.
42%
o f ta b l e t
neWs users
read
in-depth
articles
16%
o f ta b l e t
neWs users
share neWs
on social
netWorks
[ p e w r e s e a r c h ( u s ) i n a s s o c i a t i o n w i t h t h e e c o n o m i s t g r o u p, o c t o b e r 2 0 1 1 .
ta b l e t n e w s u s e r s a r e d e f i n e d h e r e a s t h o s e w h o c o n s u m e n e w s o n t h e i r ta b l e t s at l e a s t w e e k ly ]
16. reading, not browsing
i t ’ s h a r d to b r o w s e t h e w e b w i t h a n i pa d .
[ m i r at e c h w h i t e pa p e r , j u ly 2 0 11 ]
eye activity and its
on a website corresponding app
[ s o u r c e : w w w. m i r at e c h . c o m / b l o g / u s e r - t e s t i n g - i pa d - v s - c o m p u t e r ]
17. reading, not browsing
i t ’ s h a r d to b r o w s e t h e w e b w i t h a n i pa d .
[ m i r at e c h w h i t e pa p e r , j u ly 2 0 11 ]
people who mainly use apps for news are
more active tablet users in general.
they are more in-depth readers and were more
satisfied with their tablet news experience.
some even stated that the content they get here
is worth more than content on other platforms.
those who mainly use apps are also twice as likely
as browser users to read magazines daily on their
tablet (13% vs 6% browser, 9% both).
[ p e w r e s e a r c h ( u s ) i n a s s o c i a t i o n w i t h t h e e c o n o m i s t g r o u p, o c t o b e r 2 0 1 1 ]
18. reading, not browsing
m a i n ly a p p s
m a i n ly b r o w s e r
53%
46%
26%
21% 22%
11 %
easier to learn enjoy the the news is
new things news more worth more
[ p e w r e s e a r c h ( u s ) i n a s s o c i at i o n
w i t h t h e e c o n o m i s t g r o u p, o c t o b e r 2 0 1 1 ]
19. the fastest speed of change our
industry has ever experienced.
the kindle launched
on november 19th 2007.
the ipad launched on
January 27th 2010.
tablets and e readers
are rapidly eclipsing
paper and rival screens.
we had centuries to
adapt to print.
decades to adapt
to the web.
we have
to adapt to
lean-back 2.0.
20. the fastest speed of change our
industry has ever experienced.
i spend more time each
day on my tablet than i...
r e a d a pa p e r b o o k 59%
listen to the radio 52%
use my 43%
desktop/laptop
use my 41%
smartphone
w at c h t v 34%
11 % none of the above
0 20 40 60
[ s o u r c e : a d m o b , u s s u r v e y j u ly 2 0 11 ]
21. news consumption is changing:
people are already
using the tablet to
get news they used
to find elsewhere—
primarily their
desktop or laptop.
59%
used to get
their news
from a print
79%
newspaper
or magazine
used to get their
news from a desktop
or laptop
57%
used to get
their news from
television
source: pew research
( u s ) i n a s s o c i at i o n w i t h
t h e e c o n o m i s t g r o u p,
o c t o b e r 2 0 11
22. the difference
2 years will make:
current preference vs
expected preference in 2 years
100%
80%
current
in 2 years
60%
40%
20%
print website website s m a rt- ta b l e t e-reader audio social
pa i d free phone app app edition media
[ r e s p o n d e n t s : s u b s c r i b e r s a g e d 4 0 + . s o u r c e : b r a n d a s s e t ® va l u at o r u s a , 2 0 11 — t h e e c o n o m i s t c u s t o m s t u d y ]
23. sales of tablets, smartphones
and e-readers are set to grow fast:
tablet sales forecast 2010 — 2015
,
326m
18m 64m
252m
178m
104m
2010 2 0 11 2012 2013 2014 2015
b y 2 0 1 5 , t h e s m a r t p h o n e m a r k e t w i l l h av e g r o w n f r o m
a r o u n d 4 5 0 m d e v i c e s t o d ay t o 1 . 1 b n ( a n d r o i d , w i n d o w s , i o s , r i m ) .
by next year , 1 2 % o f u s a d u lt s
(28.9m people) w i l l ow n a n e - r e a d e r .
[ source: gartner, emarketer ]
24. economist readers in particular
are buying these devices:
over 50% o f o u r u s
r e a d e r s o w n a ta b l e t o r
e-reader oR plan to buy
one in the next 12 months
28% o f e c o n o m i s t r e a d e r s
o w n a ta b l e t / e - r e a d e r
20% o w n a n e - r e a d e r
11% o w n a t a b l e t
23% p l a n t o p u r c h a s e
a n e - r e a d e r / ta b l e t
within the next 12 months
17% p l a n t o p u r c h a s e a t a b l e t
within the next 12 months
[ m e n d e l s o h n a f f l u e n t s u r v e y 2 0 11 ( u s ) ]
25. the proportion of us adults using e-readers
nearly doubled from 2010-2011 and is now 15%.
agree—i use an electronic reader, such as
a kindle, an ipad or a nook, to read books:
15%
8%
2010 2011
[ m e n d e l s o h n a f f l u e n t s u r v e y 2 0 11 ( u s ) ]
26. the tablet effect:
because of the growth [of tablets and e-readers],
paper use for print media including magazines,
newspapers, and books will have declined by as much
as 21%, compared to their 2010 production rates.
additionally, over the next 15 years,
production could fall by 40—50%.
[ risi global study (2011) ]
27. audience:
l e a n - b a c k r e a d e r s a r e t h e m a s s i n t e l l i g e n t.
a global psychographic, not a demographic.
interested in ideas. receptive to new concepts.
c ata ly s t s f o r c h a n g e . w e l i v e i n t h e i r w o r l d .
29. audience:
elite media
mass
intelligence
demographics
mass
media
small big
market size
30. audience:
W e a r e o f t e n t o l d t h at t h e o n ly Way f o r m e d i a c o m pa n i e s t o s u r v i v e
is to dumb doWn; that young people have narroW attention spans so
everything needs to be delivered in sound bites.
that is not true.
26.8m people 8.5m visitors 8m copies of 28.2m
now listen to the louvre civilisation subscribers
to npr video game to hbo
series sold
32. audience:
mix and
people who read/ people
watch/attend at magazine
least two of...
us weekly
the oprah
magazine
33%
the economist
the new
yorker
the atlantic
39% sports
hbo illustrated
art galleries espn
live theatre
classical 32%
concert
family guy
the simpsons
saturday
night live
american
idol
[ source: mri, fall 2007 ]
33. audience:
a truly mass phenomenon:
‘ W e l l d o n , m y s u n ’ : a n i g h t at t h e o p e r a f o r 2 , 2 0 0
s u n r e a d e r s m a d e w av e s a r o u n d t h e w o r l d i n a n
a m a z i n g m o m e n t i n b r i t i s h c u lt u r e .
t h e o p e n i n g n i g h t o f m o z a r t ’ s d o n g i o va n n i
at l o n d o n ’ s r o ya l o p e r a h o u s e w a s pa c k e d
t o t h e r a f t e r s e x c l u s i v e ly b y s u n r e a d e r s .
[ source: thesun.co.uk, september 2008 ]
34. audience:
and their ranks are growing...
international student numbers
3.5 million
3 million
2.5 million
2 million
1.5 million
1 million
500,000
1975 1980 1985 1990 1995 2000 2005 2009
[ source: unesco, 2009 ]
37. the way forward
reinvention is required.
t h e o l d m o d e l s a r e i r r e d e e m a b ly b r o k e n .
the Web didn’t satisfy our appetite for the
p r i n t e d W o r d . l e a n - bac k d i g i ta l w i l l .
everything is back to normal—apart
f r o m t h e p r o d u c t, t e c h n o l o g y, p r o d u c t i o n
processes, subscription and neWsstand
marketing and advertising sales.
We must not adapt legacy models, We must build
reader-led business models from scratch.
38. what does this
mean for media
businesses?
editorial
product
business
models
marketing
advertising
production
39.
40.
41. product:
rs
se
t ug o re r
le
a b d i n at h e o
o rf t r e at s r v i d s ) .
% c r e
7 1 r e f e g fa e s o t u r
p rin tur pic
a c r o
h e n p ir e f e s t e
a re n th n.
th 6% p a
mp t i io
(2 c o s p l i u l at
is n p
th ve o t
e l p ou
an nera e a b e ly
ge ar lik d
rs s as rea as
se e y .
s u im rl les os
e w e e tg u l ar t i c v i d e
n r
th o re th a ews
t ep h n
d
i n - w atc
t o
[ source: pew research (us)
i n a s s o c i a t i o n w i t h t h e e c o n o m i s t g r o u p, o c t o b e r 2 0 1 1 ]
42. product:
the rebirth of reading
means the rebirth of writing.
i n v e s t m e n t i n h i g h - q u a l i t y, l o n g - f o r m j o u r n a l i s m
i s n o t c o m p l a c e n c y, i t i s b a s e d o n a u d i e n c e i n s i g h t.
i t i s n o t o n ly T h e e c o n o m i s T t h at c a n p u l l o f f t h i s t r i c k .
t h e m a s s i n t e l l i g e n t a r e a b i g m a r k e t.
43. product:
better how?
l e a n - b a c k d i g i ta l i s n o t l e a n - b a c k p r i n t.
the medium will shape the media.
w e a r e j u s t b e g i n n i n g to i n n o vat e to e x p l o r e
i t s p o t e n t i a l to i n c r e a s e r e a d e r va l u e .
example 1: example 2:
multi-platform bundling audio edition
44. product:
how a news organisation
works is changing.
a p r o l i f e r at i o n o f d e v i c e s , f o r m at s
a n d way s to e n g a g e t h e r e a d e r
d e m a n d s n e w s k i l l s , n e w c a pa c i t y
and new structures.
45. product:
a s W e l l a s m a k i n g t W i t t e r , fa c e - b o o k
a n d g o o g l e pa r t o f t h e n e W s e c o s y s t e m ,
the internet has also made possible
e n t i r e ly n e W k i n d s o f s p e c i a l i s t n e W s
o r g a n i s at i o n s — i n c l u d i n g a h o s t o f
n o t- f o r - p r o f i t n e W s o r g a n i s at i o n s
t h at r e ly o n p h i l a n t h r o p i c f u n d i n g
a n d s p e c i a l i s e i n pa r t i c u l a r k i n d s
of Journalism.
m a n y o f t h e s e n e W o u t f i t s c o l l a b o r at e
W i t h t r a d i t i o n a l n e W s o r g a n i s at i o n s ,
ta k i n g a d va n ta g e o f t h e i r b r o a d r e a c h
a n d t r u s t e d , e s ta b l i s h e d b r a n d s .
tom standage,
digital editor, the economist
47. relaxing at home
•
on the plane
•
out and about
•
on the run
on the move
•
waiting for
the train
•
with the family
48. product:
don’t turn your back
on your readers.
l e a n - b a c k d i g i ta l’ s r e l at i o n s h i p w i t h t h e w e b w i l l n e e d s o rt i n g .
t h e n e w y o r k p o s t d o e s n o t s e e m t h e way to g o :
thanks for coming!
n y p o s t. c o m e d i t o r i a l c o n t e n t i s
n o W o n ly a c c e s s i b l e o n t h e i p a d
t h r o u g h t h e n e W y o r k p o s t a p p.
[ s o u r c e : n y p o s t. c o m / i pa d r e d i r e c t / ]
49. product:
business
modeldon’t turn your back
on your readers.
l e a n - b a c k d i g i ta l’ s r e l at i o n s h i p w i t h t h e w e b w i l l n e e d s o rt i n g .
t h e n e w y o r k p o s t d o e s n o t s e e m t h e way to g o :
50. business model:
we need to move beyond
the pay–barrier debate.
advertising revenue will never support
the commissioning model for high-end journalism.
ad revenue from building scale will not
k e e p pa c e w i t h t h e c o s t o f c r e at i n g
distinctive content to build audience.
T h e G U A R D i A n m ay n e v e r s u s ta i n h i g h - q u a l i t y
j o u r n a l i s m d e l i v e r e d f o r f r e e w i t h o u t c r o s s - s u b s i d y.
51. business model:
the broken
paywall model:
r e a d e r s w i l l n o t pay f o r c o m m o d i t i s e d
products in sufficient numbers.
generic content does not provide enough
va l u e to c o m p e t e w i t h f r e e .
T h e T i m e s m ay n e v e r b u i l d a s u s ta i n a b l e s u b s c r i b e r b a s e
i n i t s c u r r e n t f o r m w i t h o u t c r o s s - s u b s i d y.
52. business model:
there are lots of functional media models.
all successful models are underpinned by reader insight
a n d a b l e to c r e at e a n d e x t r a c t va l u e at l e s s t h a n
t h e c o s t o f c r e at i o n .
the the reuters
gawker economist young breaking
turks views
fox news mashable mumsnet financial
channel times
53. business model:
u n d e r s ta n d r e a d e r s . w o r k o u t h o w to c r e at e
va l u e f o r t h e m a n d e x t r a c t va l u e f r o m t h e m .
what we’re prepared to pay for things
is extraordinarily subJective and
incredibly contextually determined.
[ rory sutherland, chair, the ipa, uk ]
54. business model:
the rebirth of paid content
amazon customers buy 3.3 times as many books
a f t e r b u y i n g a k i n d l e — a f i g u r e t h at h a s a c c e l e r at e d
i n t h e pa s t y e a r a s p r i c e s f o r t h e d e v i c e f e l l .
[ wall street journal, august 2010 ]
m o r e t h a n a q u a rt e r o f a p p u s e r s h av e
pa i d f o r n e w s o n t h e i r ta b l e t, c o m pa r e d
with just 5% of browser users.
o f t h o s e w h o pay t h e va s t m a j o r i t y ( 8 6 % )
g e t n e w s o n t h e i r ta b l e t d a i ly a n d 5 3 %
spend more time with news now than they
d i d b e f o r e t h e y h a d t h e i r ta b l e t
(versus 30% of all news users).
[ s o u r c e : p e w r e s e a r c h ( u s ) i n a s s o c i a t i o n w i t h t h e e c o n o m i s t g r o u p, o c t o b e r 2 0 1 1 ]
55. not a zero-sum game:
75% 25%
50%
25%
0%
with the launch the economist other people
of the app i is interested in my household
consider my in the needs read the
subscription of its economist
g r e at e r va l u e readers on my
for money ipad/iphone
[ source: fox insight july/august 2011. base: 1,204 ]
56. not a zero-sum game:
global mobile app + advertising revenue =
$12 billion in 2011e revenue, up 17x in 3 years
$15 billion
mobile ad + apps spending
$12bn
$10 billion te
ra
h
wt
gro
al
nnu
da
oun
$5 billion
mp
co
3%
15
$0.7bn
2008 2009 2010 2 0 11 e
mobile advertising mobile apps
[ s o u r c e : g a r t n e r , 2 0 11 . n o t e : a p p l e h a s pa i d > $ 3 b n t o d e v e l o p e r s a s o f s e p t e m b e r 2 0 11 ,
i m p ly i n g g r o s s a p p m a r k e t r e v e n u e o f $ 4 b n i n 3 y e a r s ; g o o g l e i n d i c at e d d u r i n g
c q 3 e a r n i n g s c a l l t h at i t e x p e c t s $ 2 . 5 b n m o b i l e a d r e v e n u e i n 2 0 11 e ]
57. not a zero-sum game:
reaching new audiences
previous experience of
the economist by digital subscribers:
print cancelled/ never had
lapsed print
subscribers suspended/ a print
subscribers
at p u r c h a s e not renewed subscription
6% 4% 77% 12%
77% of digital subscribers are
new to us and 12% are lapsed.
[ source: economist group customer database, august 2011 ]
58. not a zero-sum game:
time spent with news now compared
with before owning a tablet
4% spend less time
65%
30%
spend
spend
same amount
more
of time
time
[ s o u r c e : p e w r e s e a r c h ( u s ) i n a s s o c i a t i o n w i t h t h e e c o n o m i s t g r o u p, o c t o b e r 2 0 1 1 ]
59. not a zero-sum game:
circulation growth
economist circulation volumes – september
digital:
1,800 27% increase
1,600
1,400
volumes (‘000)
1,200
1,000
800
600
400
200
2002 2003 2004 2005 2006 2007 2008 2009 2010 2 0 11
print d i g i ta l
the right app has unlocked digital revenues for the economist.
60. not a zero-sum game:
develop mobile commerce
% used mobile device to purchase the following:
18%
16%
14%
12%
market %
10%
8%
6%
4%
2%
auction bank credit electronic financial online stock
sites accounts cards pay m e n t s news/stock r e ta i l trading
quotes
uk us jp
[ s o u r c e : c o m s c o r e m o b i l e n s j a n 2 0 11 , m pa ]
61. not a zero-sum game:
develop mobile commerce
of tablet users:
want the ability to buy
d i r e c t ly f r o m a d s
s tat e d t h at t h e y wa n t to b e a b l e
to purchase products and services
d i r e c t ly f r o m e d i to r i a l f e at u r e s .
t y p i c a l ly e n g a g e w i t h
d i g i ta l m a g a z i n e a d s
[ p e w r e s e a r c h ( u s ) i n a s s o c i a t i o n w i t h t h e e c o n o m i s t g r o u p, o c t o b e r 2 0 1 1 ]
62. business model:
changing the economics
of distribution
in print we struggle to deliver for
t h e w e e k e n d i n m a n y pa rt s o f t h e w o r l d .
p o s ta l d e l i v e ry i s e x p e n s i v e a n d
i n c r e a s i n g ly u n r e l i a b l e .
64. marketing:
the five p’s reimagined:
product:
t h e d e m a n d f o r i n t e l l i g e n t, i m m e r s i v e l e a n b a c k i s
a b s o l u t e b u t t h e p o t e n t i a l f o r l e a n - b a c k d i g i ta l to
deliver an enhanced experience is still to be explored.
price:
r e a d e r r e l at i o n s h i p w i t h c o n t e n t b e i n g r e d e f i n e d
and there are few price-point benchmarks.
place:
we can be everywhere, but how much power should we allow
d i g i ta l s a l e s c h a n n e l s , s u c h a s i t u n e s a n d a m a z o n , t o e x e r t ?
promotion:
t h e pa r a d o x o f i n f i n i t e c h o i c e m e a n s s o c i a l i s a k e y d r i v e r
and in an age of media consumption as a form of social
e x p r e s s i o n , h o w d o w e s tay r e l e va n t a n d a s p i r at i o n a l ?
people:
m a s s i n t e l l i g e n c e i s a g l o b a l m a r k e t,
but how do we serve them?
65.
66.
67. advertising:
opportunity or
time spent consuming media vs % of advertising spending, usa 2010
50%
time spent
43% 43%
advertising spend
% of total media consumption time
40%
or advertising spending
30%
27%
25%
a $20 billion
opportunity
20% 19% in the us
16%
11%
10% 8% 8%
.5%
print radio tv internet mobile
[ s o u r c e : k p c b / e m a r k e t e r , m a r c h 2 0 11 ]
tablet users tend to be more highly educated,
employed full-time and have a higher household
income than the us population overall.
[ p e w r e s e a r c h ( u s ) i n a s s o c i a t i o n w i t h t h e e c o n o m i s t g r o u p, o c t o b e r 2 0 1 1 ]
68. advertising:
Will need:
n e w c r e at i v e
s ta n d a r d s
new measures
new skills
new market
70. conclusion
lean-back 2.0
is not the end.
i t i s t h e l at e s t
W av e o f d i s r u p t i o n .
everything old is neW again.
b u t d i f f e r e n t.
and it is different again
from the Web, Which means
it should be Just as scary for
neW media brands, With no
eXperience of delivering
l e a n - b a c k c o n t e n t.
but it is not a Zero-sum game.
s u r v i va l a n d p r o s p e r i t y m e a n
reimagining our business...
...all over again.
71. conclusion
the big questions
we ask ourselves
(and you might too)
Will the medium change media?
W i l l t h e r e l at i o n s h i p W i t h
customers/readers change
because of neW intermediaries?
W h at W i l l a d v e r t i s i n g b e l i k e ?
Who could steal our lunch?
can We change far and fast
e n o u g h — a n d W h at i s s to p p i n g u s ?
72. conclusion
disruption is an occupational hazard:
the internet was not the first radical change
t o h i t t h e m e d i a i n d u s t r y.
s i n c e t h e 1 9 8 0 s t h e r e h a s b e e n w av e a f t e r w av e
of technological change.
m o s t h av e a d a p t e d . s o m e h av e d i e d . m a n y m o r e h av e
ta k e n t h e i r p l a c e . m e d i a h a s p r o l i f e r at e d .
T h e e c o n o m i s T h a s b e n e f i t e d f r o m a n d c a p i ta l i s e d
o n f av o u r a b l e w i n d s o f c h a n g e :
— globalisation
—spread of the english language
—the era of mass intelligence
a n d W i t h l u c k t h i s i s t h e l at e s t …