Adriana Cronin-Lukas from the Big Blog Company came up with a fascinating analogy for the relationship between old media and the internet: old media is a corroding pipe in the sea, content slowing leaking out.
– The long tail is the first business theory underlying the internet and e-commerce:”At the moment it applies mostly to distribution – someone makes it available and we observe how they are distributing and selling it”. User-generated content is the long tail of production, she added.
– The concept of ‘attention value’ came up several times; this is the value in traffic and audience attention that, for the most part, isn’t making money directly but has all the potential. “There’s no such thing as free content online – we are getting paid in attention and the entire media industry gets paid in attention. The question is how do we extract and monetize that?”
This article originally appeared in MediaGuardian.