The secret to medias downfall?

Media companies are struggling. Big time. We all know that. We have all heard the news of circulation dropping, viewership dropping, advertisers droppen, audiences dropping - everything dropping. What we are still wondering is: Why?

There are a lot of people trying to explain what is happening - either directly or indirectly. But today I think Kevin Kelly has nailed it in a stellar post, I will encourage everybody to go and read.

Basically, what Kelly is saying that if you have attention, the money will follow. Thus there is a huge drive for attention by people who build products, services and media. Because it’s their potential path to survival.

As a consequence of all this, the bar is raised all the time on quality. Because in order to get attention you need to be better than your competion. And to me, this is the real key:

Traditional news media simply can’t compete on these parameters.

There will always be someone who does it just slightly better. The minimum expectation will be sheer brillance everytime. How do you think that fits with a product that used to ‘proud’ itself that it was so good it was used for wrapping fish in the day after?

It doesn’t take a Nobel prize to figure that one out, does it?

Vad NU! is a consultancy company owned by Mads Kristensen and specialized in helping clients take advantage of the business opportunities created by new media. Click to learn how I can help you and your company.