In 1997, we said that 50% of the business would be from streaming by 2002. It was zero. In 2002, we said that 50% of the business would be from streaming by 2007. It was zero….Now streaming has exploded….We were waiting for all these years. Then, we were in the right place at the right time.
—From Ken Doctor’s excellent article “Reed Hasting’ Six Lessons for the Newspaper Industry”.
Netflix is a company I really admire particularly since they’ve had, and overcome, so many challenges over the last 10+ years. Sounds like Sarah Lacy’s interview with Reed Hastings was very enlightening (and worth checking out). And Ken Doctor’s synthesis into lessons for the newspaper industry is spot on, particularly his summary:
As the tablet age, in particular, dawns, it’s not about re-purporsing bunches of news; it’s about delivering that news in ways that delight and satisfy audiences.
The editorial stars of this new age will be those who are innovative, creative and entrepreneurial.
There is so much to like in [News Ltd CEO] John Hartigan’s speech to the Future Forum of the Newspaper Publishers Association.
However my absolute favorite section is:
We have a chance to attract more readers, viewers and listeners than ever before. In ways we never thought possible. Because until now, they weren’t possible.
The editorial stars of this new age will be those who are innovative, creative and entrepreneurial.
They will be the ones who:
- Really understand what their audiences want;
- Know how to exploit the new technology; and,
- Can put the two together to create and publish content people will pay for.
Traditional newspaper publishers, far from being threatened by technology, should be capitalising on it. Newspaper proprietors, managements and editors have a responsibility to take their editorial staff on this new journey.
When you are done, you’ll see News for You, a stream of articles automatically tailored for your interests.
The promise of the ‘new and improved’ Google News (see the video here)
It still seems like a lot of set-up work to me but I love that Google is making personalization such a prominent part of the Google News experience.
1 year ago
