July 28, 2006

The Attention Economy And The Music Business - Digital-Lifestyles.info (Gerd Leonhard essay) The Attention Economy And The Music Business - Digital-Lifestyles.info. The Attention Economy And The Music Business Gerd Leonhard 28 Jul 2006 The Attention Economy and the Music BusinessMuch has been said about the so-called "Attention Economy." – the new buzzword and visionary's catch-all phrase for a dawning, digitally networked ecosystem - where attention is worth a lot more than distribution, where 'having the time' is the final frontier and the great democratizer, where the 'longtail' rules and where many businesses that have –and keep - people's attention stand to prosper dramatically. 10 years after the birth of MP3, the music industry is now in the throngs of this powerful shift from 'having distribution' as a gatekeeper to 'having people's attention' as the holy grail. It boggles the mind, but it is now no longer relevant (or shall we say… sufficient) to have distribution, i.e. to have a replication facility, a retail network, reserved shelf space at the point-of-sale, or frequency slots (if you are radio company), or a satellite in orbit, or a cable network – what really matters is how many people care about what's IN your network! What's more, soon, it will matter less and less that you can store 10.000 hours of video, or that you can pipe it through your network to users around the world, as it will get dramatically cheaper and easier to do this, and within 7 years pretty much anyone can be a broadcaster or media service provider; at least in technical terms. Ebay and Skype are going to illustrate this point very soon, i.e. when they role out their legal, fully licensed P2P entertainment network (and they will!), putting them into the driver's seat of what some people have come to call media2.0. Just how much attention does eBay and Skype...

Gerd Leonhard

Keynote Speaker, Think-Tank Leader, Futurist, Author & Strategist, Idea Curator, some say Iconoclast | Heretic, CEO TheFuturesAgency, Visiting Prof FDC Brazil, Green Futurist

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