Wetpaint CEO Ben Elowitz on the Future of Digital Media
Time Warner has set one of the best examples of a media company willing to break with old habits in order to find a path to a better place: Not only have they initiated an industry joint venture, but they did it the right way.
Now, they’re showing some early fruits of those decisions to bust loose, in this demo video of the prototype they developed with Wonderfactory, the agency hired for product concepting and development of the tablet.
Let’s look at some of the things that Time Warner has done right. These can be something of a cheat sheet for other companies who are willing to take big risks.
And, most importantly:
Whether or not the device is successful itself, this will give Time Warner an organizational advantage: they are demonstrating not accepting the false constraints of maintaining old paradigms or riding the curve down. That DNA impact is enormous, as it creates the license for others at that company to take risks.
Ultimately, the publishing industry is facing the problem that their “content” is relatively undifferentiated. Time Warner has shown that they’re willing to take the risks to create a new experience that is worth noticing for consumers.
And Time Warner is further separating itself from the other media companies who are too frozen to do what it takes to try creating breakthrough consumer experiences. Those companies will ultimately suffer, since the best path to a thriving audience — and new revenue streams — is by winning consumers over.