|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
The media business is stuck in a wicked problem
Dec 23, 2024 at 06:32 pm
This article is part 8 of a series called ‘Reality Check on Media Strategy’. This post was originally a talk that I had given as part of WAN IFRA’s “AI Unblocked” series with Fathm on July 3, 2024.
This is part 8 of a series called ‘Reality Check on Media Strategy’. The post was originally a talk that I gave as part of WAN IFRA’s “AI Unblocked” series with Fathm on July 3, 2024.
In this post, I’ll stitch together 7 previous posts in this series along with my Neiman Labs 2025 prediction piece. The media business is stuck in a wicked problem, an issue that’s complex and impossible to solve definitively because of its intricate interconnectedness and the fact that it involves onboarding multiple stakeholders with differing values, perspectives, and goals.
Why It Matters
Media operators are stuck in tactical hell — endlessly reacting to external pressures, emergencies, or immediate circumstances in pursuit of short-term gains, neglecting long-term strategy and vision. Most resources (time, energy, money) are spent on firefighting rather than building towards sustainable success.
Below is how it feels to be in tactical hell:
This is not limited to publishers. It applies to anyone whose business relies heavily on algorithmic platforms — whether it’s a media house dependent on Google and Facebook, or a restaurant chain relying on Zomato or Swiggy for orders.
How Media Companies Ended Up in Tactical Hell
Two decades ago, media companies set up their websites and apps as additional distribution channels for their offline operations. What followed was a slow descent into the vicious loop represented in the diagram:
Media Flywheels #3 – Setting up shop in another’s marketplace: Rather than building proprietary technology to manage their owned-and-operated (O&O) platforms, publishers began renting from BigTech — SEO tools, social media platforms, Google Ad Manager, and more. This meant publishers became increasingly dependent on platforms that they did not own, losing autonomy over their audiences and their monetization.
Media Flywheels #20 – Strategic control compromised: Over-time many of the supply-side and demand-side functions of media businesses got outsourced to BigTech algorithmic platforms. This has negative repercussions on the business:
Media Flywheels #18 – Lack of Tech Capability and Capacity: Without capital or data insights, publishers struggled to hire and retain the technical talent necessary to develop advanced ad-targeting or monetization systems. Over time, this led to:
To mitigate these risks, media companies pursued two strategies:
Both approaches resulted in confused user experiences and split loyalty, further reducing audience engagement and profitability. Users stopped coming directly to publisher platforms, instead migrating to search engines, social media, or even AI platforms like ChatGPT.
Outdated Methods: Without the right supporting technology, media leaders ended up managing their digital businesses with offline management structures:
This lack of adaptability makes it impossible to win a dynamic game with static business rules. Over time, the result is:
What’s at Stake
News and advertising are a fundamental human need. Both user jobs won’t go away. The unknown question is who will serve these needs in the coming decades.
Apple’s App Store classifies X and Reddit as news products.
Elon Musk is doubling down on this positioning.
Most media publishers need to take on this wicked problem head on by addressing various structural issues identified in the vicious loop at the same time. I’ve highlighted at least one path forward in my Neiman Labs Prediction for 2025.
– – –
Curious how I’m managing to write? I created a CustomGPT for myself, which serves as my go-to editor and audits my first draft. Here’s the link—give it a spin! It’s free to use. https://chatgpt.com/g/g-hgI62sWPm-mediaflywheels-review-opinion-pieces
Want to republish it? This post was released under CC BY-ND — you can republish it as is with the following credit and backlinks: ‘Originally published by Ritvvij Parrikh on The Times of India. The author retains the copyright and any other ancillary rights to the post.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- 3 Altcoins That Will Explode in 2025, According to a Crypto Billionaire
- Dec 24, 2024 at 12:46 am
- The young investors are wary of the tokens that have the possibility of making them a fortune, especially as all signs seem to be pointing towards a huge bull run for the crypto market in 2025. Although Bitcoin (BTC) and Ethereum (ETH) are usually the safe bets, a crypto billionaire has found three altcoins that will take the front stage and provide significant gains: Rexas Finance (RXS), Sui (SUI), and Jupiter (JUP).
-
- Advanced Prompt Engineering: Chain of Thought (CoT)
- Dec 24, 2024 at 12:45 am
- Comparing different techniques for reasoning
-
- Shiba Inu (SHIB) and Turbo (TURBO) Integrate Chainlink's Cross-Chain Interoperability Protocol (CCIP)
- Dec 24, 2024 at 12:45 am
- The partnership enables cross-chain transfers for Shiba Inu's native tokens—$SHIB, $BONE, and $LEASH. The Turbo token (TURBO) also secured a similar partnership with Chainlink.