A Business Model for the Digital Age – Part IV

Digital technologies have lowered the barriers to entry, and barriers of access, to content. Consumer is Content Creator is Distributor is Medium. A new opportunity has been born.

The market to produce and also to consume has been reshaped. People are becoming more used to having the opportunity to have an input, both into the community around and the feedback loop surrounding the content.

All Entertainment industry output is scatter gun – but only a percentage of it gets watched/read and then it becomes disposable – but now with a digital format, digital distribution, digital platform and digital cognoscenti the content can have a new lifespan/shelflife.

With this comes a new business model, new approach to rights, new approach to commissioning and new approach to royalties. This will not make a silk purse from a sow’s ear – in the end the market will still decide what works – it just means there will be more room for more voices and more tastes.

The key to enabling any of this is to open a two-way channel between the content creator and the customer. The customer can become part of the creative process as well and being able to reward them for this input is important.

Locking your content down and treating the consumer as a passive object to be handed the final product is anathema to the digital age. Be brave and build alliances with the consumer – the rewards are there for those who embrace this new approach.

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