Lerer’s Theory of Media Evolution - a #SXSW session overview
Here’s our progression: A Change in technology -> Change in consumption -> Opportunity!
Today, these changes in technology and consumption are sitting in these primary areas: Data-centricity, Social, Mobile (for millenials this is the new normal), Realtime newsrooms, and Native Advertising.
It’s no surprise that often it’s really hard for big companies to innovate. A ship renovation is a really big and tough project to do while you’re at sea. New and smaller companies can transform ahead of pace, and we find larger companies “buying innovation”, even from a talent perspective.
- Admit change is happening
- Invest to disrupt. Invest for the future even when you’re core business is stable. Invest for the buyer in 10–15 years - Millennials!
We can all look around and say “yep, these changes are happening, consumers are buying in new ways, we have a shit-ton of data, and things are only changing faster”, but there is a key difference in knowing about it, versus doing something about it.
The difference lies in just knowing about it, versus doing something about it.