Google and Yahoo as Content "Stock Exchanges"
A very smart commentary by Andreas Kluth, tech writer for The Economist, on how Google and Yahoo are trumping old media in yet another way - as "content stock exchanges."
While old media continues to struggle to create media to which their audience will flock, the online giants are opening their sites to all content producers, allowing anyone, from punk poets to multinationals to Chinese college kids, to post their work.
With that network effect - the more content there is, the more valuable it becomes to more people, thus incenting more creators to post work - advertisers become the fund managers and brokers, bidding up and down spots on pages with popular content.
By focusing on being a platform as well as creative force (Yahoo produces news, online games, and partners with others who do), the online media players are continuing to distance themselves from traditional media - and seemingly widening their lead.
While old media continues to struggle to create media to which their audience will flock, the online giants are opening their sites to all content producers, allowing anyone, from punk poets to multinationals to Chinese college kids, to post their work.
With that network effect - the more content there is, the more valuable it becomes to more people, thus incenting more creators to post work - advertisers become the fund managers and brokers, bidding up and down spots on pages with popular content.
By focusing on being a platform as well as creative force (Yahoo produces news, online games, and partners with others who do), the online media players are continuing to distance themselves from traditional media - and seemingly widening their lead.
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