Old media must embrace the amateur.

Clicking through my regular morning reads from my RSS feeds I came across this article 'Old Media Must Embrace The Amateur'  by Tom Glocer (head of Reuters), on the Financial Times. I have to say this is right along the discussion lines of a lunch we had yesterday with an 'Old Media' source.  Actually, I think these guys get it. Unlike some discussions we've had with local media outlets, there wasn't a 'circle-the-wagons' type mentality. Change is constant and if history teaches us anything, it's the folly of fixed defenses. Here are some of the more interesting snippits but the articles worth a read.

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Niches more profitable than hits?

I posted about Nimbles Long Tail here.

I've been reading a lot about the Long Tail and came across this post describing how niche markets are actually more profitable than hits.  From the LT Blog:

But in Long Tail markets, where the costs of shelf space are very low, the niches have the same costs as the hits, and potentially the same profit margins. This explains that last profit bar in this graphic, which is the same as the revenue bar that comes before it.

But I underestimated the effect of lower niche content acquisition costs. The readers were right. The economics of niches turn out to be even better than the hits. Way better, as it happens...

 This Long Tail stuff is killer.