This is compelling and I think many elements of the spirit of this are true. The only thing I would add is that it will be interesting to see if professional, medium/high budget, polished, "produced" content will remain a stable and significant niche that is distinct from user-generated content. And does the high-production-value content directly compete with low-production value user-created content? And what percentage of a user's consumption it will represent in the future? And does the pool of available time for an individual consumer grow to accommodate both?
To put it another way, on some level, all content competes for our time, so it's all in competition. On a different level, a Twitch livestream or TikTok feels like an entirely different category of media from a scripted, high-production-value TV series or movie, and I want both in the world.While traditional publishers may be losing % of daily media consumption - especially in younger age brackets - it's unclear to me where this trend asymptotes. My intuition is that most people will spend some time on "reels" or livestreams (or whatever), some time on blockbuster movies, some on Broadway plays, and some time on scripted produced "TV style" content. Some will expand their denominator of total time to accommodate additional media sources, others will pick one over the other.
It seems there will be a degree of loss of market share as you allude to, but it's unclear how dramatic it will be and where it stabilizes.
One thing is absolutely 100% for sure though in my opinion: media preservation should be deeply prioritized, and this news seems like a blow to that.
soco|1 year ago
dehrmann|1 year ago
Guess who owns MTV and Comedy Central.