Seth’s Blog: The erosion in the paid media pyramid
A. Almost anyone can now publish almost anything. You can publish a book without a publisher, record a song without a label, host a seminar without a seminar company, sell your art without a gallery. This leads to an explosion of choice. (Or from the point of view of the media producer, an explosion of clutter and competition).
B. Because of A, attention is worth more than ever before. The single gating factor for almost all success in media is, “do people know enough about it to choose to buy something?”
C. The marginal cost of one more copy in the digital world is precisely zero. One more viewer on YouTube, one more listener to your MP3, one more blog reader–they cost the producer nothing to produce or deliver.
As a result of these three factors, there’s a huge sucking sound, and that’s the erosion of mass as part of the media model. Fewer people buying movie tickets and hardcover books, more people engaging in free media.
From needing to recoup production and distribution costs, to needing to recoup production and attention-getting costs…