Despite the digital revolution, the product and service of media remain status quo — at least as far as content producers are concerned. For consumers, however, the entire media experience is obsolete.
Everyone is inundated by media, so it’s a struggle to find the signal through the noise. So, we improvise to cope: our attention span is down to 8.25 seconds; 81% of us skim everything we read; we only finish 9% of the content that we start; then, we forget 90% of that knowledge within a few days!
Suffice to say, the media product in the marketplace today doesn’t meet our wants and needs as consumers.
Throughout history, the media business was predicated on scarcity. There were huge barriers to entry, like expensive printing presses and distribution infrastructure. So, if you could afford the startup costs of a newspaper business, your reward was an effective monopoly: one newspaper and hundreds-of-thousands of subscribers.
Accordingly, when the product was scarce, the balance-of-power always lay in the hands of producers. However, today, the internet has eliminated the barriers to entry, and now anyone can produce and distribute content. In this age of abundance, the balance-of-power has shifted to us, the consumers.
Yet, we content consumers still have to waste way too much of our time to get way too little value out of our user experience. Innovations like blogging and social media have improved how content is produced, but nothing has made it easier or better to consume.