5 Observations on the State of Digital Media

I wrote this as the introduction to a report I presented a year ago, after attending the Forbes MEET conference, and was surprised at how relevant it still was… so I decided to share it with my blog readers.

1. Universal access to media distribution.

The traditional media outlets were used to managing an industry of scarce resources, which they owned. Acting like toll booths, they decided what got published and what didn’t. The Internet put an end to this system, giving everyone an effective distribution channel. The bottlenecks have disappeared. Anyone can post their opinion to a blog, a video on YouTube, and even distribute their band’s songs. MediaSnackers are an example of the way users are adapting to this new way of creating and consuming content.

2. Time-Shifting: The future of media consumption is when you want it, how you want it, where you want it.

Although traditional television will continue being relevant for a while, an ever growing number of users will opt for the freedom of deciding how, when and where to consume media. The need for watching live television will still exist, given people’s need to socialize around shows (the so called water cooler effect), but users will increasingly satisfy this need with their online friends (via Twitter, for instance).

3. A need for more -and better- editors.

In a world of easily accessible, unlimited content, the role of editors is ever more important. We need trustworthy recommendations in order to find quality, relevant content. As the value of our time increases, so does the need for editors or editorial systems we trust. This applies for all kinds of content: news, software, music, games, videos, etc. Services like Digg, even with all their faults and growing pains, are a possible solution.

4. Go Local: news will be closer to home than ever.

When agencies like Reuters can distribute their content to every news show in the world, the value of those news falls (as they’re no longer exclusive to any one show). Newscasts and newspapers need to take advantage of their local presence and knowledge to cover events of real relevance to local consumers. The tendency is towards hyperlocal: the neighborhood, the county, the municipality. The Internet is the ideal medium to distribute this localized content. Likewise, users have begun to engage in Citizen Journalism, using blogs, videos, podcasts and any other distribution technology to give their opinions, make their complaints public and comment on the latest events.

5. The Internet will compete with television on the television.

In the next couple of years the Internet will be connected to the rest of our homes. Already, content that’s available on the Internet competes with television shows, and soon watching an Internet-available show on our television sets will be a simple matter of pushing a button on our remotes. YouTube, CurrentTV, Google Video, to name a few, will have a permanent home in our high-definition televisions. Traditional media networks need to make an effort to distribute their content through the Internet (see Hulu), create Internet content that supports and extends their TV offerings (see Heroes) and, more importantly, begin to compete against themselves in this new arena.

What do you see as the future of digital media?

A Spanish-language version of this article is available at Technosailor.com, where I write a regular column. Disponible en español en Technosailor.com, donde escribo una columna regularmente.