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New Post: The media companies of tomorrow will look a lot like record labels of today.

The best platforms/publishers will prioritize talent to build a business that puts creator reputation + brand reputation + operations at its core. How? Why?

*click*
medium.com/@jarroddicker/…
In the record industry, talent is the driving force behind the business. In media, traditionally, the economics place value and attribution on brand driven products that put an emphasis on audience (advertising) and “all you can eat” consumption behaviors (subscriptions) /2
Media companies have always been talent companies but their business models don’t reflect that. That’s because while talent was a driving force behind their business, the financial focus was tied closer to content ownership and distribution (owned processes) /3
The "monetize the individual" disruption should serve as a catalyst for the business reinvention of media companies who choose to recognize and react to this "new" (I know it's not new but what's old is new again) trend forming: build a real Artists and Repertoire (A&R) biz /4
The media business is finally hitting its Napster moment. To build off of the Napster moment, and to parallel this change with music, by getting into the talent business media success will look lot more like record labels than record stores (go deep on this in post) /5
Putting talent at the center of its business opens up entirely new opportunities for media companies when the core asset and value is attributed to the individual. Introduces brand equity, interoperability and dual incentives for creator & platform (ex. like SNL, Barstool) /6
The financial incentive changes from "keep creator on platform" to "enable the creator to go everywhere". The value of record labels in the music business is real. Artist recruitment (A&R), copyright enforcement, distribution, booking, accounting, marketing… it's a lot. /7
this goes a lot deeper so just *read the book* (post)

thx to @joshelman @noahchestnut @WebBarr @juliabeizer @wdavidturner @PatrickWorkman for reading, reviewing, engaging & always jamming on this topic

medium.com/@jarroddicker/…
also shoutout/thanks to all the independent thinkers/creators that constantly inspire. Too many to mention but a few @ljin18 @JasonHirschhorn @arctictony @julien51 @nbashaw @hamishmckenzie @web @JayCoDon @Zielina @fromedome @jeffjarvis @mwmoretti etc etc
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More from @jarroddicker see all

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JD
@jarroddicker
Business models are product strategy.

Revenue is a proxy for how we serve customers & should create something new (a blend of advertising/consumer or new service).

Reading @risj_oxford report & seeing media/journalism once again going in the wrong direction.

Thoughts /1
@risj_oxford When polled “What’s the most important revenue stream for my company going forward?:

Reader Revenue: 50%
Reader Revenue & Advertising: 35%
Advertising: 14%

Concerns:

1) No new revenue. "A blend of/outside ads/subs"
2) No acknowledgment of The Passion Economy (@ljin18)

/2
@risj_oxford @ljin18 Media leaders need to go beyond advertising & subscriptions. Branching beyond a singular business model is critical. Pivoting from one (ads) to another (subs) is the definition of insanity. This requires both operational (how things work) & inspirational (value) reinvention.

/3
Read 10 tweets
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JD
@jarroddicker
Media companies, while fighting against social platforms, are exposing what their value in the ecosystem actually is; being an agency & platform for creators. The role of a media company will mimic that of record labels; real value as operators, not as a voice. What do I mean? /1
People say media cos are going away, or that we just have too many media cos (I'm one of them!). The volume is the exact reason why there isn't enough ad $ and soon won't be enough sub $ to go around. It's not that these models don't work, there just are too many platforms. /2
The problem is, it's hard to create new revenue streams. Isolating your value to a brand or consumer is limiting, & making it interoperable means forfeiting exclusivity & ownership. Also, many don't have the opportunity to take these risks. But a model as operator works. Why? /3
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