The New Media Revolution

By Guest Poster Cutter Mitchell

Cutter Mitchell is the CEO of the new media start-up SpartX.com and a former investigative journalist.

Follow Cutter on Twitter here

            Some may think the sell off of assets and struggling business models of media conglomerates, like Viacom and News Corp., are merely a symptom of an ailing economy. However, others argue a different cause.

            With the dawning of the Internet, something happened within media. This was the beginning of technological socialization. Everything began with the desire for information; information about everything. This slowly blossomed into social media, which let’s face it is really information about people.

            Now, the Internet as a whole is being taken one step further. It is going beyond merely socializing or information seeking and is becoming something more, much more. Users are driving content in ways never before seen.

            This New Media Revolution can best be illustrated by the analogy of a third grade classroom. In third grade there was that old adage, “No question is a stupid question.” But it was third grade, so no one ever raised their hand.

            Imagine sitting in that classroom for years and years on end. With the same confusing lessons being taught and those same questions never resolved. At some point, those third grade hands would start to go up. And that is precisely what is happening within media today.

            Instead of waiting for the teacher to call on them, these users have begun answering their own questions, for one another. In doing so they themselves have crafted the new, youthful face of media.

            This has lead to the transformation in not just one medium but all forms of media. Billboards are being digitally crafted for video games, television programing is being exclusively aired on the Internet, and there is still so much more to come.

            “It’s all about on-demand content. Users are screaming for what they want, and other users are listening. All we have to do, as new media companies, is listen too,” said Chief Financial Officer and Co-Founder of Rico Media, Inc. Steven Gonzalez.

            And Gonzalez is right. Companies like Digg and Revision3 are listening to users and giving them exactly what they ask for.

            Digg is a new media news source that is the latest in online publications. Instead of some grey haired editor deciding what people should know, users “Digg” or vote for article either they submit or find on the Internet, and the articles with the leading votes go to the top for all to see. This set up makes users the sole drivers of content.

            Revision3, on the other hand, is a new take on the classic television network. Instead of being aired on any given cable provider, subject to the edits of the Federal Communications Commission, these shows solely broadcast on the Internet. While there is some variation of these internet television websites, the main difference being who can post a show, all bend to the viewer’s whim. Watch what you want, when you want to watch it.

            There is an added benefit to the new media revolution, and not just centered around content. Revision3’s Chief Executive Officer Jim Louderback has been quoted as saying the production costs for an internet television show is about 10 percent of what it costs to product a traditional network television show. The significance of this is more than it may appear. For the first time in decades, significant cost or substantial monetary investment is not a barrier to entry in this industry.

            This new playbook written by media consumers has effectively done away with the old, and has crafted an entirely new game. Before 2008, it would not have been possible to gain A list celebrity status by simply having an internet presence and a strong following.

            But individuals like Gary Vaynerchuk have done just that. Parlaying their niche, in his case a internet television wine tasting show, into all out fame and fortune. And he is not the only one.

            In this time of flux, companies emerging in this new media revolution are taking full advantage of the changing state of things, and are trying to take a small part of a market formerly barred by conglomerates.

            However, new media is not entirely what its name suggests. It actually is a term that refers to a transition, rather than anything completely new. Shows are still shows, whether on the internet or television, radio is still radio even if it is a podcast, and news stories are still stories even if they are written by a reader. New media is just a way to explain the transformation that happens every so often within the communications industry.

Post from: Social Media Vision

The New Media Revolution