Mike Butcher on How Digital Media Screwed the Media Business at the PSFK Conference London

Attendee Comments

Andrew Hovells summed his learnings as:

Then is was the turn of Mike Butcher to talk about the effect of digital media on traditional media. Here’s a transcript of his speech, but there are some salient points that struck home with me. A new media turning things upside down is nothing new. The onset of print allowed insurgents to distribute information and organise in ways they never had before. Information of power – the greater its distribution, the greater the sharing of power and authority.

Press simply has a smaller, cheaper and quicker competitor to deal with now – online. Like the way Craigslist totally undermines paid for classified advertising (so does Ebay). Now old media may be dealing well in parts, like Guardian Online, but it isn’t leading the way, at best it’s part of it.

We’re going to see the old media continually squeezed by the new technical behemoths like Google, and the little niche start ups from the other side. It suggests a new model for media – take part and we’ll give you the space. Maybe the new model is less power at the top and more stuff coming up from the people on the ground. That bottom up theme again.

George Nimeh said:

Mike Butcher’s talk was good. He’s always got great examples and insight into the changing landscape that digital is forcing on the traditional media business, and today was no exception.

The AdLads key takeaway was:

Digital media is the pamphlet from the Pentrich Revolution of our era. Media owners must change their practices in the face of cheaper digital startups and user-centric publishers.

Come listen to more inspiring speakers at the PSFK Conference Los Angeles on September 18 2007 in West Hollywood – psfkla.eventbrite.com.