“At the end of the rainbow” for content creators and media distributors has changed. Consumer power is teaching changing lessons for the media industry. EkaLore’s Series talks of how consumers might as well be disruptive Alien Invaders who have taken content creators and media distributors where no one had dreamed before. The current labor strikes and business model changes are upsetting more than a century of media moguls, content stars, and distribution powerhouses. Content can be created on a smartphone. Business models execute on Internet social media platforms. The Internet distributes content everywhere, anytime, on whatever device people want. Here’s a look at the lessons for content creators and the media industry.
The key in all these Lessons: CONSUMER
They aren’t just the product, and they aren’t just to be told. Consumers have the money. Advertisers need to connect where buyers and money bring business.
Lessons for Advertisers
Consumers of content have prejudices, likes, and won't be taken for granted.
Consumers have all the spend – and don’t choose to give it to products and services that offend or happen to have a tie-in character on the label.
Consumers exercise power in groups and not just affinity segments of an audience.
Lessons for Content Creators
Consumers value creativity, freshness, and honest viewpoints – if they wanted to see something old they can stream the original music or video. Gaming produces some of the most compelling content - an interactive experience.
Consumers don’t have to rely on locally-produced content. Spanish telenovelas get attention. Bollywood and Hong Kong movies go everywhere all at once. Reality shows survive globally. Japanese Anime is cool on smartphones only an arm’s length away. French films are still a thing. Marvel and Mickey Mouse and Barbie are known to kids globally.
Consumers influence each other more than influencers talk.
Lessons for Media Distribution
Consumers don’t want 100 or 1000 channels. They already have more than that online. Social media matters. They want quality content.
Consumers won’t spend money because you have a single exclusive property. They want a consumption experience of value. They don't care if you make money.
Consumers don’t need to buy everything in your bundle. And they know it.
Lessons for Internet Providers
Consumers will buy access and content separately. Requiring one to get the other fails.
Consumers want what they want – not just what you want to give them. Bandwidth limits and download limits sound like good business models – until the competition guts you.
Consumers don’t like to buy devices other than smartphones (subsidized of course) from Internet providers. Consumers will shop online or at the mall – not at their utility.
A last message to all sides in the current strikes: consumers are watching and will pick the winners and losers regardless of who gets the money, who claims moral outrage, or who wins the public opinion war.
Past Tales to children began with "Do your homework, there's somebody who wants your job." New Success Tales begin: "Someone has a better story from their smartphone on social media."
Consumers are the Alien Invaders disrupting the media industry. This is the last of EkaLore's series on power shifts in consuming media.
For more analysis and notes see http://www.ekalore.com
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