Understanding New Media Business Models

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iTV: Changes to Business Stategies
and Public Policies
Dr. Duane Varan
Interactive Television Research Institute
Dr. Duane Varan - Murdoch University
Historical Overview
• New Media do not displace old media
• But they do displace the business models of
older media
• Example: Dramatic shift in the business of
newspapers, theatre, radio, cinema and now
television.
Dr. Duane Varan - Murdoch University
Paradigm Shift
• Changes currently underway represent new
paradigm
• Not everything will change - but much will
• Have to have courage to embrace the
change - seize new windows of opportunity
• Not just new industries, but the salvation of
traditional media enterprises
• Radical implications for both business and
policy
Dr. Duane Varan - Murdoch University
New Business Strategy
Dr. Duane Varan - Murdoch University
The Shifting TV Landscape
• Fragmenting Audience
• Increasingly becoming ambient medium
• Increasing viewer control (e.g. VCR zipping
at 72% - up from 54% in ‘90)
• Increasing premium program costs
• Multiplication of conduits
• Commoditisation of exposure
Dr. Duane Varan - Murdoch University
TV’s New Business
• Needs a new business - digital strong
potential
• But unclear what the new business is
• Clear potential for iTV - but spotty record
• Can’t cannibalise existing business
• 30% of iTV viewers going into interactive
services during ad breaks
• 88% use PVR’s to zap ads
Dr. Duane Varan - Murdoch University
The New Value Chain
• New players - each of which think they’ve
contributed 90% of the added value
• New rights - both for new product and for
existing product
• New need for collaboration between players
(e.g. backchannel, EPG, PVR, etc.)
Dr. Duane Varan - Murdoch University
New Content
• Who will champion and discover the new
content?
• How do we discover what audiences want?
• How do existing content producers develop
the skills and underwrite the new content?
What platform do they develop for?
• Remarkable export opportunities
Dr. Duane Varan - Murdoch University
The New Viewer
• No longer the commodity of exchange
• No longer the silent partner
• How do we build with the viewer as an
active participant in the process
• R&D process in development critical - but
where’s the funding coming from
Dr. Duane Varan - Murdoch University
Self Regulation/Social Responsibility
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Privacy
‘Safe’ space
Codes of Practise
Quality Control
Dr. Duane Varan - Murdoch University
Public Policy
Dr. Duane Varan - Murdoch University
Spectrum Management
• Digital technology offers remarkable
spectrum efficiency - compared to
remarkable wastage with analog
• Potential financial returns from sale of
spectrum
Dr. Duane Varan - Murdoch University
Stimulate Industry
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Light touch
Strong national broadcaster
British model
Australia policy based on protecting vested
interests by penalising everyone - it’s what
we CAN’T do rather than what we CAN.
Dr. Duane Varan - Murdoch University
Social Policy
• Regulation is good - creates iTV’s greatest
revenue streams
• The old rationale’s challenged
• The old remedies no longer work
• What is the ‘new’ public interest
• New issues: privacy, cultural integrity, etc.
Dr. Duane Varan - Murdoch University
Defining New Media
• How do we define something we don’t yet
know
• Datacasting worst case scenario
• Promise vs. performance
Dr. Duane Varan - Murdoch University
Social Impact
• No body of research yet
• Desperate need for research
Dr. Duane Varan - Murdoch University
Appropriate Regulatory Mechanism
• Does our division of regulatory mandate
still work in a convergent environment?
• Possibility of creation of ‘super’ agency
(e.g. OFCOM)
Dr. Duane Varan - Murdoch University
[email protected]
Dr. Duane Varan - Murdoch University
Dr. Duane Varan - Murdoch University
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