How to start a 'new media empire'
An interesting article from Thomas Crampton of the International Herald Tribune, who gathers together media executives' views on the 'ideal approach' to starting a 'new media empire from scratch' at the World Economic Forum in Davos, Switzerland.
Interactivity
Gerhard Florin, executive vice president and general manager of international publishing for Electronic Arts, a company that gained a revenue of over $3 billion from games like 'The Sims' and 'FIFA Soccer', believes "Media companies should learn from games because we totally absorb our players."
Florin's new media empire would place an important focus on interactivity. It would include news and information, "but only at the fringes". Approximately 50% of revenue would come from "slick packages purchased at stores or online", which would include print material as well as perhaps a DVD. The physical material sold is important in his view because, "You may be able to do everything online, but we find people are still very attached to the idea of getting something physical."
Localized Content
Michelle Guthrie, CEO of Asian broadcaster STAR group, asserts that the future of new media lies in 'highly localized content': "Now that content can be produced by more people, only things that really touch people will succeed." She added that "Audience interaction has become central."
Good Content
For Shelby Bonnie, CEO of CNET NetworksProducers, good content will be rewarded : "The successful media empire of the future will regularly send their audience to the best stories by their competitors."
Source: International Herald Tribune
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