(First of all, sorry if you came to this post hoping to see a picture of an incredible product).
As you may or may not know, I recently became a podcaster. After kicking the idea around for over a year, listening to many other awesome podcasts, and actually learning how to do it, I have recorded and posted my first episodes. Click the link on the right side of the page to check it out. It’s no secret why I’m podcasting and why it’s important to me. I love talk radio and this gives me an opportunity to play in that format. Perhaps more importantly, I think this is the future of media consumption. That’s a pretty important concept.
If you’re at all plugged into the dialogue surrounding newspapers and television stations in North America, you’re probably aware of the financial hurdles before them. I’m not going to break it all down here, but it’s obvious that survival is a growing challenge for these media. Rupert Murdoch is working on finding somebody to pay for all his content, which, by the way, will be the only way media is describe eventually. The sad thing about his mission is that he isn’t the content provider. His writers, reporters, editorialists, etc… they are the content providers.
For example, when you read my blog, I provide the content. If I worked for Fox News (not that I would) and I filled a report on the Climate Change Summit in Copenhagen, I’d be providing the content, regardless of what channel you watched it on. Filing stories on a major network is not the only game in town. Here’s an example. Granted, the example I’ve provided has an obvious bias, but it’s hard to name a news brand today that is without. (More on brands in a bit.) So, content can be provided by just about anybody with gumption and distributed over a number of means on the world wide web. You no longer need a TV network.
Don Martin’s column doesn’t have to be in the National Post for me to want to read it. John Moore, Jim Richards, Dave Rutherford, Jim Rome, Adam Carolla… none of these guys have to be on the radio for me to want to listen. Kevin Newman, George Strombo….os, they don’t have to be on TV for me to want to watch. Blogging, Podcasting, and YouTube are all viable vehicles. But would you pay for it?
This is the question content consumers will be faced with. Some polls have already posed it. Soon, the market will. Will you pay for content. Many say they’d pay for commercial free television. How much would you pay? And how much television would you get? My cable bill looks like a rip off since all I want is Monday Night Football, Mad Men, and the Daily Show (and I think I should get a discount on Mad Men since it’s about advertising) but I end up paying for the full service. I use less than 1% of what they pipe into my home, but I pay full price. A la carte TV shows anyone?
Adam Carolla does a very entertaining podcast. It’s a seamless hour of funny conversation. It’s free right now, but I’d pay $5-10 for a one year subscription. That’s peanuts to me, but if all of his downloaders paid $5 for the right to hear his podcast, he’d have $12 million. That’s not entirely accurate. Those would be his earnings in week two of his podcast. I’m certain his audience has grown since then. I’m also certain that $12 million would be more than enough to entice him to continue providing the content he does.
The same goes for my favourite writers, authors, reporters… people who are limited by the vehicles they are currently stuck to.
When I think of how much I already spend on media – newspapers, television, magazines, movies, etc. – I feel that I could cut the costs and cut out a lot of the clutter when it comes to my content consumption. That’s a future I’d like.
Would you pay for content?
