
What’s happened to media companies in the last decade or so — and what continues to happen to them even now — is like a more boring, digital version of the Trials of Job. He’s the Biblical character who got hit with boils and **, all to test his belief in God.
For traditional media companies, there’s no hail of frogs — just a steady decline in print subscriptions and TV viewership, then lower ad revenue, then the move to mobile and even lower ad revenue, and now the dominance of Facebook and other platforms.
All of these things have one underlying theme: Namely, a complete and total loss of control over the audience, or what Dan Gillmor has called “the people formerly known as the audience.” In some cases, media companies may have only had an illusion of control, but those kinds of illusions can be even more powerful than the real thing in some ways.
It was so much easier back in the good old days, in the 1970s and 1980s. Media companies controlled not only most of the news and entertainment that got produced, but also the channels through which it got distributed — newspapers and magazines and radio stations and TV networks. And that scarcity generated huge revenues via advertising.
Note: This was originally published at Fortune, where I was a senior writer from 2015 to 2017
Continue reading “Prediction: In 2016, media companies will lose even more control”













