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| Live Blog: | Networked Economics | (02/28/2008) Powered by: CoveritLive |
10:37 | Session is starting |
10:47 | Panelists: Merrill Brown is moderator, Chairman of NowPublic Jennifer Carroll, Gannett Randy Paynter, Care2 Suha Araj, Real Girls Media Nic Fulton, Chief Scientist, Reuters Chris Tolles, Topix MySpace TV fellow Lawrence Wilkinson, Global Business Network Information has a lot of value when money is at stake. |
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| 10:51 | [Poll] | Is this panel valuable to you? Yes No |
10:58 | Suha said an interesting thing about the girls already feel very empowered and feel like they can publish their views without media. They like the social side of the site. "Women don't only connect as women. They connect around their passions," says Araj. Tom talks about commercial world of MySpace TV. Difference between five years and now is startling. Today, advertising and programming are non-linear. Total breakdown of scalable content. "People can have their voice heard." He stresses that now we all have the ability to have an outlet. And their are audiences for the niche market items. MySpace sees the bright side of the equation. Carroll of Gannett, characterized as a "declining company" by Brown. Media companies missed e-bay, craigslist, etc. and must roll out new tools and approaches. They are trying to go hyperlocal and connect those people, "on their sites" meaing increased footprint. |
11:01 | Interesting panel mix of "incumbents" and novel people. Talk about barriers to entry but what about barriers of exit -- investments in old media that have to be phased out in order to support new efforts. Newsrooms are being invigorated through "crowd sourcing" via 1st amendment work. Want people to come thru Gannett to form groups. I wonder if people "need" Gannett to connect with other people or content that they want. |
11:05 | Topix is turning aggregation into community. Aggregation is okay, but the audience demands comments and commentary. This will mean pitching ads that will run on commentary (unedited). There is still an advantage in being connected to MSM. Topix just focused on giving users what they want -- he doesn't like what people said about immigration on Topix, but there are millions of people who wanted to comment, so it is in their business interest to do this. This seems to tie in with Alberto Iburguen's comments regarding established journalists coming from a "value-based" perspective and wanting to get ideas about journalism that are from different perspectives. |
11:13 | Disruptive effect of social network tech on business models: MySpace marketing is driven now by consumer to consumer opinion. MySpace guy thinks the truth will always come out. People will look at the experts' opinions, but then will want the common man comments or opinions as well. "TV disrupted advertising for radio, but ad spending grew. This could be what is happening now. If the urge to co-create goes beyond the media, in 15 years from now, marketing money will recede in business expense. People will tell business what they want and 'just get it.'" -- Lawrence Wilkinson Consumer Reports rep has lots of questions about their expertise and the desire of the audience for social networking is so great. Where does confidence in information come from? Reuters vetting is workth waht you pay says the Reuters guy -- size of the crowd or amount of information is important. Advice to Consumer Reports-- brand your experts by let the audience see the opinions of the crowd, just differentiate between them for the reader. |
11:13 | [Comment From barbara] Is this a good panel? |
11:18 | Consumer isn't willing to pay for everything the marketers thought were benefits. Solana global voices asks are the forums changing behavior or are they just making money off what people are already doing? Simply giving them the voice, says the MySpace rep. "We're hosting a party" says Suha. "Lead by example" and they just find the best ways to do what the consumer wants. |
11:26 | Panel wrap-up 16 million moms above the age of 16. "We have a scalable audience" for advertising. You will see niche audiences beginning to be aggregated by sites like MySpace. Nic-- giant social networks and niche social networks. The genius of Facebook is turning social network into a process not a destination. The social networks is a cost of entry into the market but then what do you do? SMS didn't go away with the Facebook "poke." Networking provides efficiency and the next layer of connectivity -- possibilty to productivity with a platform that facilitates world connectivity. Widgets and social networks, aggregators of aggregators -- big picture is less value in any indiv app because they will all work -- we will see "homes" on the web that reflect your values. Gannett rep says things get bigger and smaller at the same time. They will go "under" as they see the importance of "site" fall off in favor of niche collections of information -- like the blog the friend sent you to. |
11:26 |
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