Broadcast Television is shrinking and Word of Mouth is growing

Digital Media Summit Explores New Models for Promotion and Creation

My first job was in old media. In the summer of 1986, I spent Sunday mornings constructing the San Francisco Examiner with my cousin, and venturing out via bicycle to share a heavy bundle of news, advertisements and stories from around the world. I was a paperboy.

At iHollywood Forum’s Digital Media Summit in Los Angeles last month, editors at BusinessWeek, the Hollywood Reporter, Los Angeles Times and The Wrap came together to discuss the coming demise of the paperboy. Specifically, they talked about the business model evolution and revenue uncertainty.

The 2009-2013 Communications Industry Forecast, released this week from Veronis Suhler Stevenson, made it explicitly clear: “No longer are newspaper and magazine subscription purchases and network prime-time viewing the norm.” Bicycles and other traditional forms of transportation are no longer the preferred means of distribution.

In the face of The Ugly Truth (no relation to the Sony Pictures movie), digital media heads from Lionsgate, Miramax Films and MTV Films came to the conference to discuss the Internet and all its social revolutions. The panel discussions at Digital Media Summit confirmed what we all knew before the day started: No one has figured out the best method for monetizing the Net, but there are game-changing developments that are empowering the former audience.

I have to really thank Nick Mendoza for this recent post. I love his perceptive insight on the evolution that is plowing through office buildings and minds at a lightning speed. Read his full blog at the via pbs.org link above.

Also of important note is the The 2009-2013 Communications Industry Forecast. Certainly take some time to read over this as well.
Broadcast Television is shrinking and Word of Mouth is growing.

Don’t forget about the upcoming launch of #entsm tweetchat.
Now scheduled for Tuesdays, 8pm. Stay tuned for details.

John

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