Categorized | Consumer Behavior, Trends

Challenging the old media business models (Part 1)

I was just reading this great post by Robin Carey , the co-founder of Social Media Today, about the maturity of social media and the challenges it faces on the way. One of the main challenges for the businesses is monetization of social media. I completely agree with the thought that “Information does want to be free, free to move around at any rate, even if we’ll increasingly seeing value put on that information in various ways”, and who can evaluate or put the value on the content best? The Consumer. The recent news about News Corp plans to monetize the content again, it kind of reminds me this video of Prosumer, where corporations are trying to control the free movement of the content but at the end they loose the battle. Do not get me wrong I am not against paying for the content, but sometimes I don’t understand why can’t I pay for my favorite blogger or journalist directly? I think that’s about to change. I believe that “freemium” business model and payment systems will have to evolve to become more flexible and provide more choices for the consumer. I can easily imagine the media platform (i.e.  Social Media Today) where I come to read the news and with a click of some sort of social “pay me” button I could pay for the good quality post and support my favorite blogger/journalist directly without any intermediaries by donating 10-50 p for the post. The emergence of such function could massively improve the social media content quality as there would be kind of “natural selection” in social media because people would be motivated to build up their personal brands by creating valuable content (monetary motivation always helps). Furthermore, the media brands would be interested to attract good journalist/bloggers to maintain their brands who in return would be willing to share their revenue stream with the company because big brands attract more visitors. The more I think about the more clear it gets , that such kind of system could be a game changer and a win-win situation for everyone . What do you think about it?

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This post was written by:

- who has written 111 posts on Social Media Citizens – Interviews with social media influencers from around the world.

Giedrius Ivanauskas is the founder/editor of Social Media Citizens and co-founder of Social Marketing Forum. He also blogs on Social Media Today and Socialemailmarketing.eu. Giedrius is a managing partner at Nearby Digital - location focused social media marketing agency and is passionate explorer of Augmented Reality, Startups and anatomy of Inspiration. He curates inspiration database - Inspirisimo.You can follow Giedrius on Facebook or Twitter

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