The (industrial) (r)Evolution of Media

Trust is emerging as an essential social dynamic across the US and in the media business especially

 

How do businesses in the radio portion of the media vertical effectively deal with developing and maintaining the dynamic of trust with their key markets these days ? The short answer is: build better metrics that reflect value in more descriptive ways using today's technology.  In the medium and long term, this will create more trust through transparency on both sides of the business equation (with both consumers of content and the sponsors). Let's look at this for a few minutes because developing circumstances are exactly the opposite at the moment (in parts of the media vertical and in the larger horizon of the US society). By nimbly shifting your perspective to see the larger social forces that shape demand, you can see how to approach innovation and return to profit sooner.

Media's Brand New Business Model - What the four primary metrics tell us Part 2

editing in progress...

The point of this discussion is to help make clear the underlying changing dynamics of supply and demand in the broad business known as media.  Specifically, this perspective looks at very large social trends that are changing what we want as consumers of media, and especially how we will serve these varied markets as profitable businesses. If I can clarify the issue of strategy using a broad historic perspective and the benefit of how changing social mood will impact the demand (in general) to help see opportunity better, then my highest goal will be achieved. Since businesses are created as tools to serve demand, these basic and big picture observations can be helpful while leaving lots of room for creativity in the broad market for making and selling content. I believe this can be particularly helpful because, in the rush of short term events, we are inclined to lose sight of these bigger picture influences. Times are tough in the media vertical no matter where you are. There's no doubt about that. Those who are in tune with changing demand in their market,(really in tune), will be more able to evolve successfully in turbulent times.

The benefit of using the four metrics I will discuss next is to see how the immediate and longer term momentum in competitive markets is reflecting changing demand. These observations call for immediate shifts in the underlying business model. From this very broad perspective the business model used for many decades can be viewed as a social contract. There are a lot of details in this contract but a few major factors shaping supply and demand can be isolated, discussed, and used to see how we must better serve the various segments of the market in the future. This perspective affords significant opportunity to those who push the obvious obstacles out of their way first. As you will see, however, these are not small obstacles.