Who will pay for content- Publishing 2.0 Take
Great article by Scott Karp on Publishing 2.0 this morning that discusses the issue with who is going to pay for content in the Media 2.0 world (much better term than web 2.0, as it actually addresses the fact that its not just the internet that is being affected by changes in the consumer model, but that it is media as a group that is actually affected.
Particularly good quote from Esther Dyson:
…attention has its own intrinsic value, independent of money. People go on the Web in search of attention; they don’t want to give it as much as get it.
And I agree with Scott’s assessment of this quote:
This is a blazing, head-spinning insight.
In media 1.0, brands paid for the attention that media companies gathered by offering people news and entertainment (e.g. TV) in exchange for their attention. In media 2.0, people are more likely to give their attention in exchange for OTHER PEOPLE’S ATTENTION
Essentially what needs to start now is media companies figuring out where the money it going to come from for content in the future. Its not just a case of media conglomerates buying up companies like MySpace, but its protecting their original assets (the expensive to produce tv and film content) and figuring out what the future holds for that type of content