Monday 14th March, 2011
11:00am to 12:00pm
BitTorrent didn’t invent the Internet. It just changed the game. In 2001 the BitTorrent protocol was launched into the world. It turned rich media distribution economics on its head by making efficient use of consumer bandwidth and enabling transfers to get faster the more popular a file is.
Fast-forward to today and the whole media industry has been turned upside down. From newspapers to music to film, the way content is distributed and how users want to consume it has completely changed. The growth of the Internet created a disruptive model that caused a shift from physical to digital media, and many in the media industry unprepared for the change have been left scrambling.
Resistance doesn’t stop change from happening, but it can make it more painful. If anything, the dramatic consolidation in the newspaper industry should be a lesson for other media industries that evolution is not a choice, but a best practice for creating a sustainable business model.
Paid download, subscription, ad-supported or freemium. Which business model will be most effective in generating value? There is not a clear winner, but different online communities as well as types of content will lend themselves to each in varying ways. Continued product development will provide choice to the consumer and they will vote by their actions. The different consumption models and tastes of users will create number of opportunities for monetization by creators as well as more options for consumers.
The Creator of BitTorrent. Also father, entrepreneur, puzzle inventor, and juggler bio from Twitter
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