A new piece at Forbes.com provides a nice follow-up to a recent blog post here – “A Hobby Or A Business” – that took on the question of whether traditional broadcasters pursuing digital initiatives might be wasting their time and money.
This new article refers to many of the print casualties, along with the problems that traditional media has in adjusting to new platforms.
They liberally quote Warren Lee, a principle at Canaan Partners, who contends that investing in new media activities is smart and essential. He also believes that there will be an increasing emphasis on “production values” – that is, the quality of the content will matter. And who better to produce a good looking/good sounding product than mainstream media?
Here’s Lee’s pessimistic comment that resonated with me:
“…if you look at the constraints and the limitations that traditional media companies have, it's very difficult for them to completely switch models and focus on a new area of content."
And this one that suggests the possibilities:
“It's almost a shame if you don't take advantage of (personalizing content and engaging with consumers) with the content you're creating…I think the traditional media companies that will be successful in the future will be the ones who realize that and make the proper investments to make sure that the content is catered for each distribution channel."
New media companies may have a leg up in funding, but legacy media outlets "get" content, production values, and consumer tastes. Properly deployed, "old media" can dd some amazing things in the digital space. If we are bold enough to put our best brands on the fast track.
We're watching NPR step up, and the result is 350,000 downloads for their new iPad app. Other traditional companies, outlets, and brands will follow.
Just venturing an opinion.
Jacobs Media has consistently walked the walk in the digital space, providing insights and guidance through its well-read national Techsurveys.
In 2008, jacapps was launched - a mobile apps company that has designed and built more than 1,300 apps for both the Apple and Android platforms. In 2013, the DASH Conference was created - a mashup of radio and automotive, designed to foster better understanding of the "connected car" and its impact.
Along with providing the creative and intellectual direction for the company, Fred consults many of Jacobs Media's commercial and public radio clients, in addition to media brands looking to thrive in the rapidly changing tech environment.
Fred was inducted into the Radio Hall of Fame in 2018.
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