There are a quarter million media sites, 70 million blogs, heading towards 100 million, different types of content, YouTube phenomenon illustrates the accelerated pace of change. YouTube started surfacing was in August of 2005. Fewer than 70 article. 2006 early 3,000, late 2006 30,000 articles. People are adopting YouTube rapidly, 65,000 new videos a day. Contrast with adaoption of PC, started with primitive machines in 1970s. Pace is likely to continue, consider recent IDC report, last year 161 exabytes of content created last year, 3 million times all books ever written. Will continue to surge. Email inboxes now 1.6 billion inboxes. Talking about a revolution in social media in 1995, ten years after the birth of the Web.
Innovation, simplicity, continuous evolution, accessibility are key.
People love the simplicity of Google ads, continuous improvement. Innovative in the development of ad models, poised to change via pay per action. No longer necessary to own the data. Housingmaps.com combines Google Maps and housing data. Web 2.0 makes two-way communications the focus, allowing the user to participate, collaborate and contribute. "If we don't find ways to let readers interact, we will be left behind in the Web 1.0 world." eBay harnessed collective intelligence, Amazon promotes "good reads," MySpace, others driven by users, mostly young but the future work force.
The intersection of technology and society is powerful, kids and prosumers not the only ones to recognize it. Investors have doubled Web 2.0 investments.
How do we create blue sky ideas? Sellers need to innovate, engage prosumers, engage creatively and simply. Offers unlimited opportunities for innovation. Become customer-intimate and you will find new ways to add value to your content. Must be convenient, fast, provide relevant content, customization, personalization, essential in an exabyte world. New business models must evolve, must transform businesses. New partnerships, distribution channels, coopetition, redefine market focus. Buyers will be successful as 2.0 companies and focus on user experience and the technology and social philosophy of Web 2.0. Fostering community and collaboration, encouraging employees to contribute to the collection, be internal "prosumers." Simple, reliable mobile desktop capabilities essential. At FAST conference, Factiva exec accepted innovation award, employee captured it on video, posted it on YouTube, wrote a brief, provided a link. Enterprise 2.0 in a nutshell, drives innovative advantage. When we think of social networks, we need to think of it in terms of internal collaboration and collaboration with customers. Acquisition of WebEx and Tribe.com by Cicsco, making the technology network a social network.
Each year Edelman publishes trust barometer, trust shifting to peers, buyers and sellers of econtent need to be open to mixing journalistic and prosumer content. Dow Jones recognizes that we need to include Web sites and blogs, part of content collection 2 years ago (?), Web ten years ago. Dow Jones in Web 2.0: beyond WSJ and averages to company with 60 percent print, moving towards 50 percent digital revenues (COMMENT: fast enough?) Enterprise business unit comprises financial information services (private equity, capital, FX, etc., newsletters, events), DJIA and other indices, new content technology solutions - newswires, licensing, B2C as well as B2B, Factiva. It became clear that Factiva would be stronger with one owner, in the end Factiva was more strategic to Dow Jones. Only company of full spectrum of news from low-latency news for algorithmic trading, consulting, working to leverage Web 2.0 technologies, personal pages, shared pages, dynamic newsletter creation, DJ and Factiva embrace Web 2.0 by allowing users to freely share and collaborate.
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Great presentation, and I think that Clare "gets it," as Ken Marlin mentioned on the intro, but to some degree the Web 2.0 talk is dressing up long-established traditional enterprise content integration in new clothes. Enterprises tend to develop new content facilities with trusted partners, so this is not to say that competitors are going to swoop in with off-the-shelf solutions with true Web 2.0 technologies, but especially in financial I am not sure that today's vendors "get" just how empowered the "prosumers" are to collect and collaborate on content.
Labels: Buying and Selling eContent, Clare Hart, events
