It’s a big topic. We’re led to believe that the mainstream media world is in trouble with declining advertising revenues and difficulty in matching available revenues with cost of production. And not only that, there’s a whole new world of mobile and social media out there with unclear revenue models. Where do you place your bets? Do you knock down your existing business to create the new one? Do you wait before making your move but risk missing the boat altogether. These are all questions the answers to which are still unclear.
And this topic was also on our minds in Barcelona during Mobile World Congress where the UKTI hosted a Mobile Monday London panel session discussing this very thing. Paul Skeldon from Telemedia 360 took some video of it, the highlights of which you can see below. It's in four parts with Russell Buckley, VP of Global Alliances at Admob chairing (and co-founder of Mobile Monday Germany and co-star at the Mobhappy blog), and Chris Boden from Lonely Planet in Australia, Lucie McLean from the BBC, Steve Ives, CEO at Taptu and yours truly on the panel.
Is Traditional Media Dead?
Is Advertising Dead?
Are Applications Dead?
Will the iPad Save Us?
Paul also covered the panel session in this month’s Telemedia 360’s PDF newsletter which is worth a read if media and mobile is your game. [You can download a free copy from their website.] I am widely quoted in the article but to get the full context, it’s probably best to view the videos *and* read the article too to get the whole picture.
You might also be interested to know that the FT Digital Media and Broadcasting Conference was on this week. Although not there, some of the tweets from it are worth a look. Have a look for the hashtag #FTMedia10 and follow FTDigitalMedia on Twitter. I’m sure there’ll be some news and blog coverage coming out of this conference too, so watch this space.
Another *must read* article is this one Understanding the participatory news consumer – a comprehensive breakdown of the latest Pew Internet research showing what the US digital news consumer is up to on their mobile phone. I’m not going to repeat what the article covers, but it shows that mobile internet users access the internet more often than their fixed line counterparts:
“On-the-go news consumers: Who are they?
The typical on-the-go news consumer is a white male, age 34, who has graduated from college and is employed full-time. Given their younger profile, it is not surprising that 40% of this group are parents of young children (compared with 30% of the general adult population), and 32% have never been married. One in three (32%) live in households with incomes of $75,000 or more. As a subset of the broader mobile internet population, on-the-go news consumers reflect many of their characteristics (see table below).
Not surprisingly, on-the-go news consumers maximize their cell phone use. They are 67% more likely than other cell phone users to text message, more than twice as likely to take pictures with their phones, and four times as likely to use their phones to instant message. They are also especially heavy internet users—80% of this on-the-go group are online on a given day, compared with just 67% of other internet users—and they engage in activities such as blogging (20% v. 11%), using social networking sites (73% v. 48%), and using status update sites like Twitter (29% v. 14%) at significantly higher rates than other internet users.”