Murder She Wrote

Media companies are having a hard time getting their bearings in the new world. The problem is deep down, and by and large it's tempting to think of this as a surface issue. "How do I monetize the Internet?" In fact, the Internet is a complete game changer. I hope the next post or two will take you from "my revenues are falling, what tools can I use to pick them up?" toward "I see why my current assets and tactics have a limited life span. How do I start creating content that people will consume in the future?"

Look at the way twelve- and fourteen-year-olds consume media and you'll find patterns that are dramatically different from older people's. TV is consumed far less, and when it is watched it's being watched while they surf the net. Radio is almost completely absent. Mobile phone usage rules the roost, mostly through texting but as iPhones and other smart phones get into more hands the phone will be a major media consumption tool.

All of these changes are not analogous to previous generational differences in style and culture--these are major changes in where these kids can be reached and in how they will interact with you and your brand. Even the switch from radio to television was an evolutionary step, still a passive medium for the consumer. The Internet and phone-based social media are dramatically different from television, and four years from now the new blood entering the 18-25 demographic will be much more comfortable watching a webisode on their cell than sitting down to watch a sitcom on TV.

Think about what this means for those demographics that will still come to television or radio. These old media will be consumed primarily by those who have old habits. This kind of "show," including old media repackaged on the web such as Hulu and online streams of terrestrial radio, will appeal to old people with strong existing loyalties--the least valuable demographic to marketers. The other group of people who will still have the Television habit will be lower income demographics--another group unlikely to get top dollar from marketers.

So unless you're prepared to be tomorrow's Murder She Wrote, airing ads for Depends and denture cream to an aging audience in an aging medium, you need to move out of TV and radio. Not just stop making and airing it, but stop thinking in those mediums. Making TV shows or radio shows for the Internet won't cut it. You'll need to think about things in a dramatically different way to appeal to tomorrow's audience.