A brief but elegant piece from Tom Loosemore on the LastFM acquisition by CBS ends with a familiar theme about the myopia of broadcasters. Some broadcasters (such as CBS) are busy re-inventing themselves, and their relationships with audiences. But..
"Others are still deluding themselves that their uniquely wonderful content will see them through.
Monks and bibles, my friends, monks and bibles..."
It's not as if they haven't had recent experience, particularly in the US, of how new players can turn traditional consumption patterns upside down. Someone, somewhere, will write the next Three Blind Mice
I was at a dinner recently which had a number of the great and good from the broadcast world. The after dinner debate included a discussion of how the end of the Long Tail is 'full of crap', which has riled me ever since because it's based on at least three fallacies.
First, it's been easy to assume that popular content is good (particularly if you've had a hand in making or distributing it). In fact, as Tom points out, popularity has in part been driven by our inadvertent ability to control attention. TV channels will increasingly be seen as merely inefficient video on demand, and the shaky relationship between popularity and merit will start to become clear.
Second, the Long Tail is full of great stuff that is no longer able to command giant audiences. 'Hit' products that are no longer at the front of the store aren't crap (Star Wars, Seinfeld, Life On Earth....). Equally, it's become cost effective for high-quality, 'professional' niche content to find, and sustain, its audience. All that content sits in the tail, and it's pejorative to think it's crap.
Finally, the tail is full of an enormous amount of stuff that would never get an audience on a broadcast network. But is it crap? Not to the people who made it. Nor to the people who they're sharing it with. The ease with which people can now create, share and participate in content is enabling millions to be famous to the fifteen people they most care about. if you think that what they're creating and consuming is crap, you're losing touch with what your audience cares about, and you're living on borrowed time.