Yesterday I had a nice email exchange with a good friend and colleague regarding the rise and influence of content created by corporations. His belief was that traditional media will continue to be the main informational source for consumers and business professionals.
Specifically, he was responding to my blog post that stated, "The future of content around the globe will rest, not in the hands of the traditional press, but in the hands of businesses."
His statement back to me was that "media consumers are savvy, and are wary of the agendas of the sponsors of content. Traditional media will continue to have an important role as the independent arbiters of relevance, taste, etc."
Where I agree with him is that traditional media will always have a role…a very important one at that. BUT, the majority of the content we consume will NOT come from the traditional, unbiased press.
Here’s why:
1. It’s getting easier every day to ignore advertising placed along side traditional media. For example, take a read through this article by Greg Verdino on the 30-second spot where he questions a recent Online Publishers Association Study:
"…where’s the study that helps marketers, agencies and media
companies navigate a path to true innovation in online video? Where are
the questions about branded content, the integration of product
placements into online video and the use of next-generation video
interactivity, including hotspots, overlays and telescoping? Where are
the findings that justify the development of new video ad models that
don’t rely upon intercepting consumers when they just want to watch
some content?"
These are the questions the Greg feels need to be answered as the 30-second spot continues to be deleted through TiVo.
Corporations must continue to be part of the content, since, to my friend’s point, media consumers are savvy enough to ignore and delete the ads that surround the content they really want. Corporate media innovation is just getting started. Smart corporations will find away to deliver great content that is consumed in mass quantities because, frankly, they won’t have any other choice.
Take two other examples. I can read a digital magazine and skip all the ads in it. I can get RSS feeds of my favorite business articles without looking at one ad. Technology will continue to help us ignore traditional advertising…so, what’s a business to do?
2. Tomorrow’s consumer looks at corporate content and the traditional press differently today than ever before. This article by Martha Spizziri for ASBPE Boston on the reader of tomorrow is eye-opening.
Boston University professor John Carroll discussed the four distinct characteristics of today’s students when it comes to media. Of particular interest was #4, "They don’t understand the value of a free press," Carroll said. "They
don’t get the role of a watchdog. They don’t trust the press, they
don’t like the press, and they don’t believe the press. … They don’t
understand why the First Amendment is important. They don’t understand
why anyone would go to jail to protect a source."
Carroll goes on to state: "They don’t understand that MTV is a series of commercials interrupted
by ads. They don’t understand that their cell phones are running them,
and not vice versa. When you ask them who’s going to report on the
conditions at Walter Reed Hospital, it doesn’t occur to them [to think
about that], because they don’t know about the Walter Reed story."
This should cause some concern, but if you really digest what he is saying, the future consumers "may" (dare I say) trust corporate content more than the traditional media. It is corporations they relate to with their iPods, Nikes, and Sean John…not the WSJ or Times.
3. It is corporations, and not the traditional press, that have the financial resources to go out and create the best content. Now this is not a certainty, but don’t tell me that Google or Microsoft (MSNBC?) couldn’t start a media property tomorrow. Frankly, eBay should be buying up industry trade publications left and right (a built-in buyer/seller community).
Over the last decade, I’ve seen more and more traditional journalists "cross the line" and create content or perform research for corporations. Where in the past this was looked down upon…not anymore. Hey, writing for Microsoft, Cisco or Parker Hannifin looks good on a resume. So not only do corporations have the financial bucks to go out and get the best in research and editorial, the best journalists like it.
In summary, technological advances, consumer behavior and financial resources will culminate and create the "age of corporate media" as the dominant media we consume, day in and day out. Businesses will get better at creating great content, and great content is what consumers want. Consumers ultimately will not care where it comes from or (even worse for traditional-media types) they may actually "prefer" content from corporations.
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2 Comments
To answer Greg Verdino’s question “Where are the questions about branded content, the integration of product placements into online video and the use of next-generation video interactivity, including hotspots, overlays and telescoping?”
It’s here! Brandfame – http://www.brandfame.com – is an online-video product placement agency. They might also implement a video interactivity service in the future.
Not sure that corporate content has taken over. Looking back over the past 3-years since this blog was published it appears that the supply of quality video has become ever more fractionated. No longer do you need high cost cameras, sophisticated post production and a cast of thousands to deliver impactful and effective video relevance. Efficient production of material from relatively humble resources can prove extremely effective if wrapped up in a mechanism to allow viewers to react / transact with the video. We aim to turn ‘viewer interest’ into ‘viewer action’ so that internet marketers are rewarded for providing rich media content on their web pages. It’s not so much video for videos sake but rather, video for businesses sake.