This post by Jack Lail made me revisit a thought that has been rolling around in my empty skull off and on for a while now.
Truth be told, the history of newspapers on the Internet is littered with missed opportunities, wrong turns, and a lack of investment that all seemed smart (or at least prudent) at the time because of the industry’s strong herd instincts.
As an outsider, it seems to me these three industries are facing the same basic challenge. They are industries that completely rely on talent to exist, but whose current business model is centered around delivery, not the talent itself.
People are going to find good music to listen to, good stuff to watch, and good writing to read, and in an open market, the cream will rise to the top. The reality of the situation is that musicians, writers, and actors/directors no longer need the old media structure to be found, all they need is to have talent.
For now, old media has the market on talent cornered for the most part, but they’d better quickly find a way to monetize or they’ll be history.