What’s First, Technology or Content?
Where should media companies be focusing priorities?
I’ve been thinking lately about how media is moving increasingly toward a greater technology dependence. I’ve read about how investment dollars, especially in Silicon Valley, where so much media-related innovation is occurring, steer towards technology solutions for media consumers. New utilities—new ways to interact with content—seem to be more important than the content itself.
Think about the major social media and many of the new online-only media businesses like TripAdvisor and Yelp. User interfaces, tools, analytics and more are the difference-makers. They create no content on their own, really, but they have massive audiences. Google commands more ad dollars than the whole magazine and newspaper industries combined.
Which for me raises an interesting question: Should media companies be technology companies first and content companies second? Has some paradigm shifted in the media world?
Now, before you dismiss what I’m saying as just simplistic nonsense, consider that not only is Google an advertising giant, but so is Facebook. So is YouTube. Instagram, Twitter, LinkedIn and others will rise in ad spend, and they all depend on users for their content. They pay no content creators, but they create extraordinary technology-based environments for people to post their own content.
And if you’re looking for consistency in the argument, consider that most media companies acknowledge freely that the one-way form of communication is dead. The old-school model of, "we-create-content-and-you-consume-it" is simply incomprehensible to modern media users. They take cellphone photos and videos, and share them easily. Even media companies say that they want to create a platform for community interaction.
In that context, then, should we be focused on content—or technologies that enable the sharing of content? It’s a fascinating question.
There are those who say that without content, there’s nothing. No Google and no Facebook. Which is true. But that doesn’t really address the question of who’s doing the creating.