The Next Generation of Media

Media is changing fast. Before the internet, communication channels were really expensive. You used to need a newspaper or magazine to be able to publish your writing. Now you just need a Medium account. You used to need a production company to distribute videos. Now you just need a YouTube channel.

The web allows anyone with internet connection to cheaply distribute all forms of content. It took power away from centralized companies and gave it to the talent themselves. Now Barstool Sports, David Dobrik's Vlog Squad, Nelk, and dozens of other companies are changing media from the bottom up.

These new companies are all about the talent themselves. By removing the traditional barriers to entry, creators have been able to directly organize together instead of being forced to join a traditional organization like the New York Times or CBS. In doing so, they can create the content they want to create, not what some big company wants.

Unlike traditional media, though, new media companies often doesn't own their distribution. They rely on YouTube, Medium, Spotify, and other big tech companies for it. This is fine if you are Joe Rogan and get offered a $100 million contract from Spotify, but other creators, even those who consistently get millions of views on their content, haven't faired as well. For one reason or another, they get censored and demonetized.

We think that in the next generation of media creators will have more power. They will be able to own their distribution. They will get to decide who they publish content with. At the click of a button, they'll be able to create a new publishing company and add others to it. They'll control the quality of content on their platform, giving them more credibility than being lumped together will all other Medium writers or YouTube creators. In other words, they'll be able to create organizations that can develop the prestige of traditional media companies. They'll start to capture the majority of value they provide, too.

Another great piece on the next generation media that we were influenced by:
The Next Media Opportunity: Talent, Reputation and Lessons from Record Labels.