Posts tagged with 'power law'
While many consumption patterns are at play in the new competitive landscape, two are particularly important: power law and social cascades.
Power law: (aka “rich get richer effect”) is a self-reinforcing positive feedback loop. For example, the more babies are born, the more people grow up to have babies; or the more money you have in the bank, the more money you earn to put in the bank.
Both of these are more volatile and less predictable online, which creates opportunities for independent media. (more…)
The new competitive landscape requires media organizations to develop new competencies to succeed. Finding new ways to meet users’ needs and desires will be the sources of value that drive new business models.
These four questions about new industry realities reveal opportunities for change:
- How is the competitive landscape changing?
- What new competencies are needed to succeed?
- What needs can be met, problems solved or desires met to create value?
- How are media organizations structured to capture this value? (more…)