We all know that traditional media has been declining.
Newspapers started to lose their reason for being long before the Internet.
Radio moved away from its local model to save money for its investment bank owners and that hasn’t worked out too good.
Television is feeling the pressure of YouTube and other video services like Hulu as some 40% of all network television viewing is now done on a computer. So much for all those HD TVs out there.
The record industry is hanging on to CD sales for the majority of its revenue even at a time when consumers have moved on.
The convergence of traditional media with new media never happened.
What has happened is the arrival of social networking and mobile devices that are critical to the way more and more of us – no matter what age – are gathering information and accessing entertainment.
This morning, I’d like you to consider what I have identified as 6 of the hottest media growth businesses to watch. You may be working in traditional media or may just be an interested entrepreneur or perhaps an enlightened radio owner, but I think you’ll want to know these.
I have been working on this to prepare for our discussion at my upcoming Media Solutions Lab in January and thought you’d like to see what the future looks like so I am sharing this with you this morning.
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1. The hottest (and my favorite) new business startup idea for media types that is already being tried in some cities around the country. Hint: it is very local and if you like the concept, you’ll want to get there first. I'll link you to a popular hyperlocal site.
2. A new type of broadcasting that doesn’t involve a tower or transmitter. Heck, it doesn’t even involve Internet streaming. And yes, you could do this for a minimum investment tomorrow.
3. A publishing and blogging platform that can make you money if – if you have expertise in a niche area of interest.
4. How radio can become a growth business again. This is what I would do if I owned a radio station in the era of new media.
5. A business built around social networking that every media exec could start if …
6. The replacement for network and local television – yes, you can do it yourself and catch a popular trend away from traditional TV.
Can you get a taste for why I am so excited about these evolving media growth businesses?
Learn more about them, right here.