Last week, I went on a dream tour for media geeks. I had 10 meetings in New York and Washington DC with some of our industry’s best thinkers.
I met with leading academics at CUNY and NYU, very smart people at large media companies (IAC, AOL and Bloomberg) and more smart people at start-ups (SeeClickFix, GrowthSpur, Daylife and Allbritton’s yet to be named “Jim Brady Project”.)
Here’s what I learned:
- No one feels good about the future of most newspapers and television networks.
- All agree that content curation will remain a key strategy for smart editors.
- No one can agree on which sites and models are going to succeed though Jim Brady’s new project for Allbritton (parent company of Politico) and Mark Potts’ GrowthSpur are generating a lot of excitement and curiosity.
- All acknowledge that existing revenue models aren’t working.
- Many think that the best opportunity for revenue is in local advertising.
- Others think that there is opportunity in national advertising, though the model will be built around sponsorships, events, vertical creation and content integration.
- All agree that mobile will continue to grow in importance, but no one had solid plans for monetizing it.
- Two people told me I should leave the media business entirely and try PR or perhaps managing a corporate website. (ouch!)
No simple answers indeed.