Who is the competitor of old media and what does it look like?

[caption id="attachment_4533" align="aligncenter" width="342"] Old Media[/caption]

Looking at the atmosphere these days, do you feel that the content of mainstream media is getting less and less talked about in people's conversation topics?

In particular, when listening to podcasts, podcasters in the fields of politics and current affairs often say that their influence has already exceeded that of existing media.

So today, let's take a look at what kind of competitors the old media are facing.

1. Contents sector (new media or one-person media)

Professor James Webster view on new media:

In the past, relatively few mass media provided information and content almost exclusively in the market of interest. As Professor James Webster pointed out, the situation is completely different these days.

[caption id="attachment_4534" align="aligncenter" width="341"] New Media[/caption]

"People these days access a lot of content through digital media, and people spend their time-consuming hundreds of TV network channels, thousands of movies and TV shows, countless websites, videos, and tweets."

“And some of the content provided in this way is consumed by a large audience.”

“Some are intentionally passed on to specific acquaintances or followers.”

“But in any case, content creators want to grab the attention of their audience.”

"By drawing the attention of the audience, it gives people a pleasant experience, builds social capital and makes a difference in their lives"

"(But) the efforts of content creators will be in vain if they don't grab the attention of the audience."

"So these days, if the media wants to achieve any purpose, it must first win the attention of the audience."

“The media must therefore compete with other media in the ‘market of interest’ to win the attention of their audience.”

"But people's attention is not indefinitely supplied"

“The inevitability of the ‘market of interest’ is that there is always a limit to the size of the audience and their time, and the time and people are limited.”

“Also, media audiences are becoming scarce as more media start competing for people’s attention.”

“After all, understanding how to get public attention is more important than ever.”

“Now, getting public attention is the key to success for content creators.” (Professor James Webster)

https://www.youtube.com/watch?v=i1T5714SPO4

 

Professor Bharat Anand explains the change in Media:

The important thing here is that the rules of the game are changing.

“The real threat that always jeopardizes the content business comes from somewhere else.”

"The most terrifying subject for publishers was not 'independent publishing'"

"It wasn't that Holius Studios was intimidated by the YouTube video"

"Also, famous musicians were not afraid because of the music arranged by other singers on YouTube."

"Blogs weren't a threat to The New York Times."

"Hollywood studios have an aggregator that aggregates and supplies different content"

"A (music) platform for a successful musician"

“For The New York Times, the network was a far more terrifying threat.”

"In other words"

"Whether it's cheap or expensive content. The real threat is businesses that take advantage of user connections."

(Professor Bharat Anand)

https://www.youtube.com/watch?v=FN-WbbX2kgc

The connection between Old Media and New Media:

In the past, when content was delivered unilaterally, providing high-quality content was the core and almost everything of business, but now that interactivity and communication have become more important, as important as the quality of content is to manage 'relationship' and 'connection'. That's it.

In other words, most of the content these days is relationship-oriented. And sometimes the relationship overwhelms the quality.

So, I see one of the biggest characteristics of digital content as this 'accumulation of relationships'.

These days, new media companies and creators who are good at this are constantly hitting the ground.

On the other hand, old media, accustomed to providing content relatively one-way, overlook this part.

In this digital age, old media are in a situation where they have to compete with the service or producers that are accumulating these new relationships.

I tend to think that there are two options here. Either we have to extract the content of overwhelming quality that can overcome relationships, or we have to jump into the competition of relationships.

Otherwise, there will be a situation where the market of interest is continuously pushed back. If this continues, will not it naturally lead to a decline in influence and impact?

2. Distribution sector (digital platform)

 

Another category that people often refer to as competitors of old media is platform operators in charge of content distribution in the digital age.

To explain a little more, the reason why single-person media is booming in the digital era is not because of media factors such as low production threshold, but because a new distribution structure has been created so that good content can be spread almost everywhere connected to the Internet. will.

And the major platform operators that hold the key to digital content distribution are increasingly exercising their influence across borders.

On the other hand, the existing distribution networks that old media had are almost dismantled or completely collapsed.

In other words, in the digital era, the distribution paradigm or initiative of content has also completely changed, and while the distribution capacity of old media is gradually decreasing, the distribution capacity of digital platforms continues to expand globally.

From an advertiser's point of view, there is no doubt that there are more options than in the past.

Therefore, as a marketer or a business owner, there is no choice but to constantly find more efficient means.

In this regard, isn't it natural that the distribution network continues to expand and the influence of digital platforms continues to grow?

In addition, another problem facing old media in competition with digital platforms is that platform lock-in due to the 'skill gap' is accelerating.

And it is not easy to catch up with the already widening technology gap, and the old media cannot afford to invest in technology.

On the other hand, these days, platform companies are increasingly boldly investing in content.

Perhaps, without a special occasion, as time goes by, in terms of distribution and technology, it is almost impossible for the old media to gain a competitive edge?

3. Trust sector

[caption id="attachment_4538" align="aligncenter" width="391"] Trust and Insurance[/caption]

According to the explanation so far, it seems that Old Media will be in an overwhelming defensive position compared to other competitors.

I tend to think that one of the reasons that old media can survive is thanks to the 'trust' it has accumulated over a long period of time.

In fact, trust is one of the most important capitals in terms of business and overall social impact. Also, it takes a long time to build this trust.

In particular, in the case of media or content businesses. The trust and reputation that has been built up implicitly have a great impact in various fields such as production, distribution, sales, and alliances.

So, this is an area that new media and platform companies cannot easily reach.

In particular, it is almost impossible to build trust or authority in a short period of time for new services or new media that have no choice but to experience trial and error in the early stages.

So I think that old media definitely has an overwhelming competitive edge in this area.

[caption id="attachment_4540" align="aligncenter" width="324"] Competition[/caption]

However, unfortunately, negative signals have been continuously detected in this area recently.

As you are well aware, the credibility of the existing media has continued to bottom in recent years. And there is no chance of a rebound, only the climate of distrust is growing.

I think it may be a situation that requires a special response to the increasingly deteriorating part of trust.

Otherwise, at some point, a cross will occur with companies that are newly accumulating trust.

Maybe the biggest enemy is the closest one?