Who says Old Media won’t become the leaders in New Media? 7/14/08Posted by Steve Boriss in Old media.
At an off-the-record session at the Sun Valley big-wig conference, Internet pioneer Mark Andreesen is quoted as saying ‘If you have old media, you should sell…If you own newspapers, sell. If you own TV stations, sell. If you own a movie studio, sell.” If that’s true, what in New Media should one buy?
It does seem that all these media will ultimately converge onto the Internet, so perhaps the printing presses, broadcast towers, and movie distribution networks will become obsolete. But, someone has to produce the content. And right now, the content leaders are all in Old Media. The most successful New Media company, Google, produces essentially no content. The mammoth blog the DrudgeReport produces virtually no original content. Facebook and Myspace produce micro content for friends and relatives.
Do we really expect that all of our preferred content will suddenly come from amateurs engaged in social computing? It seems like some professional class will need to be involved, and to date that class still resides in Old Media, still working for the big Old Media brands. So until that professional class moves, perhaps it is not yet time to sell.