Lipstick on an old media business model doesn’t make it new media

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The “next, new” media company will disintermediate all these “current, new” media companies by demonstrating the common-sense and obvious fact that continues to allude otherwise smart people: Today, all companies have the power to be media companies.

Moreover, any new media company that is created on the old notion that they sit between sellers and buyers is only temporarily new. They’ll be gone faster than you can say, “ Speedy Alka-Seltzer.”

So, enjoy your day, all you new media companies that send out daily deals to people who are in constant search of a better deal on a day spa. One day, those day spas will figure out how they’re a new media company themselves and will figure out what they really need is to invest in media that helps keep those customers coming back, instead of becoming itinerant day-spa-ists.

via Rex Hammock’s RexBlog.com.

There Are 5 Comments On This Article.

  1. Wow, that’s a lots of words to merely say that companies may start to do new media in-house.

  2. Dude, facts don’t “allude” people. Put away the thesaurus, learn some grammar and vocabulary, and then we might take you seriously.

    Here are some more gems from the above posting on this guy’s blog:

    ” I am, with this post and at least for this day, choosing to ignore that the notion of delivering coupons in the context of sponsored editorial is anything new can be dispelled by looking down at the blow-in cards on your lap, the next time you open a magazine. #

    And I’m not here to police anything Ben calls “new” that I know has been around for at least 150 years old. #

    Rather, I’m here to surrender and join in the chorus that editorial designed with an explicit and transparent goal of helping connect buyers and sellers is, indeed, what a new media company looks like.”

    Ugh! APhotoEditor, please spare us this drivel in the future!

  3. He makes a good point that most companies can communicate better today and make better use of the direct line they have to customers. In other words companies can tell stories that will make their customers listen. But I think his big point is wrong. Social media companies do a lot more than ‘sit between sellers and buyers.’ They often bring a large audience of buyers to the seller and ask them to listen. I have a lot of patience for the daily Groupon deal that lands in my inbox despite never taking advantage of it, but guess how many daily-deal emails it will take from the day spa before they end up in my spam folder: two.

    He also underestimates the investment required for every company to become a media company. Just because every company can become a media company doesn’t mean it will be economical for them to do it—creating content is hard and expensive. It’s like any other activity not directly relate to the core business—they can either do it poorly in-house or hire it out. His tirade reminds me a lot of those who were certain that graphic designers were obsolete because desktop software meant Ted from HR could now design the logo. It didn’t work out that way.