I Like Media

Sometimes when discussing the ideas in this blog, I hear “But I like People Magazine and Lost. I’m getting entertainment and information in exchange for the advertising I see”.

I like media too. And the statement I hear is true, in a way. Consumers definitely receive a media value proposition (entertainment and information) in exchange for our time, attention, loyalty, etc. But it’s far from free. I decided to look at the past 30 days for the Steinberger family and it’s pretty scary.

Cable: $150
I’m embarrassed to type this but it’s true. I hardly even watch TV.
Magazines: $50
The wife needs her People and the like and I have a few subs to biz mags
Newspaper: $15
Recently reduced to weekends only
ISP: $20
The only thing on this list that has actually been getting less expensive
Web sites: $30
No, not those kinds of web sites. WSJ and a few other purely PG sites)
Movies: $80
Gotta get there early and then you’re hit with ads before the coming attractions (ads). And I’m not including the price of popcorn.

I’m around $350 per month before adding in the value of my time spent looking at billboards, in store displays, and other people’s t-shirts. Media is good. But it ain’t free.

This leads to my next head scratcher. Consumers are valuable enough to be intruded upon incessantly by advertising. And because we get little in return, advertising annoys us. This issue has been addressed by devising ways that we can pay money to avoid ads. DVRs, satellite radio, ad blocking software… Why charge us to avoid as opposed to pay us to consume? It makes more sense to compensate consumers for their value and their time.

The economics are completely broken. And pretty easy to fix.

Admin note: Returning users will notice some design improvements. We’re upgrading the blog this week before actively calling attention to the site beginning next week. (If you are reading this, you are one of the few right now) Site activity should begin increasing next week and I will start blogging more about how I think this problem can be solved. I hope you will keep reading and share with others if you are intrigued.