The media industry is well positioned. They could have "better" data (in the meaning of better for placing advertisements) than many social networks. However they need to embrace data and become a data driven organization.
Lutz Finger analyzes in his talk (video: http://youtu.be/mzWBXUc1QWo) the two main worries the media industry has today: Reach / Expertise - in both areas they are faced with competition from new social media channels.
He shows that BigData and Analytics is the only way out of the issue. Media companies could become the leader in Media Data and in Media Analytics.
8. Is this helpful?
You are what you Do and not what
your Friends do.
0%
5%
10%
15%
20%
25%
30%
Click
Through
Rate
x
Reach
Source:
Kun
Liu
et.
al.
ACM
2011
17. Reality: Homophily
Source:
Kevin
Lewisa,
Marco
Gonzaleza
and
Jason
Kaufman
(2012):
PNAS
Vol
109,
no
1
• 4 years
• 1001 Students on Facebook
• traditional Self-reported Data
• How did taste Spread
Influence is often overestimated. It needs:
• Reach
• Readiness
• Topic Dependence
18. REACH is the KNOWN Game
• Aja Dior M.?
• AP News?
Aja Dior M.
omgg, my aunt tiffany who work for
whitney houston just found whitney
houston dead in the tub. such ashamed
& sad :(
45 min
24. Timing
“whenever we write
about a topic.. Our
readers love it, search
for it…
and Google gets all the
revenue.”
CEO of a Media Company
25. Min.
at
start
of
the
week
Max.
every
Saturday
Timing is Everything
Source:
Google
Trends
Max.
every
Monday
Min.
every
Saturday
Search
Frequency
Search
Frequency
What
are
the
SEARCH
terms?
26. Min.
at
start
of
the
week
Max.
every
Saturday
Timing is Everything
Source:
Google
Trends
Max.
every
Monday
Min.
every
Saturday
Search
Frequency
Search
Frequency
What
are
the
SEARCH
terms?
“Job”
“Vodka”
27. Max.
every
Sunday
Timing is Everything
Source:
Google
Trends
Max.
every
Monday
Min.
every
Saturday
Search
Frequency
Search
Frequency
What
are
the
SEARCH
terms?
“Job”
Max.
every
Saturday
28. Be a Data Driven Organization
10th June 2011:
2.6 million readers had to look for a new SUNDAY paper
29. Where are new Customers?
Indicated
desire to
switch
1%
Former
NOTW
subscribers
4%
Daily star on
Sunday
15%
Daily Mail
22%
Sunday Mirror
26%
Sun On
Sunday
8%
Sunday Herald
2%
Sunday Time
7%
The Observer
2%
Sunday Star
2%
Sunday Sport Standard
2%
Star on Sunday
9%
General / Misc
5%
To Which Sunday Paper?Ready to Switch?
95% no info on switching
Timeframe:
Jul
2011
Source:
30. Invest in Quality Journalism
Did the Citizen Journalist…
Kill the Journalist?