What do I Own? Networth Conference: DIgital Strategies of Media Conglomerates

Discussion in this panel focused on defining content and establishing ownership. The panelists talked about how to sell content to audiences in an age of digital streaming. How do you make someone pay for something that they will not physically hold? What gives content its value? What strategies can companies use to encourage and reward people for buying content- how can companies make buying content make sense to audience?

Because streaming a video online is a similar experience to playing a movie on a computer or dvd player, companies are working to create added experience to purchasing material, so that when someone buys a product, they are paying for something special and valuable. Consumers are confused at the difference between buying content to own and watch versus a one time online stream. It is hard to understand ownership in the digital world where the product is not tangible. One strategy to enhance ownership includes socializing the viewing experience and connecting people together through and around the content they are watching. Another strategy is the concept of windowing a product’s release. Windowing something means that it is most expensive when it is first released, but then lowers in price with time and rerelease. This would encourage consumers to buy product so that they could see it early before later releases. A problem with the windowing model is that technology has enabled people to see content for free even before it should be released everywhere in all forms. To combat the piracy and content leaking, a global day and date release model is coming in the future. A third strategy to establish ownership desire is to focus on content and increase depth of content. Distribution is cheap and easy. Older models valued the ability to control distribution, but a new era is coming. In focusing on content, producers can sell deeper or extra parts of the story to dedicated fans who care to want the extra information to enhance their viewing experience. This idea has been seen with ABC’s LOST that was paired with extra content online to explain and add to the story, and also seed with Disney when they use content to sell other things (such as theme parks and children’s toys). A fourth model involves ultraviolet and the ability to view purchased content in different spaces on different screens. For conglomerates, hopefully they will find a way to establish a valuable experience around content to increase its monetary worth.