Selling to the Streamers

Thoughtful quote in Digiday from my friend Christopher Erwin about the strategic dilemma facing media companies of all sizes: whether or not to create content for streaming rivals.

“Strategically, it’s important for companies to not make half-hearted attempts in streaming video. Studios and networks will be more than glad to sell to the growing content buyer universe. But while that means money comes in the door now, it also means that a lot of institutional resources will cater to short-sighted business goals, and not preparing teams or the company for what makes them more viable for the future.”

My two cents are that by creating original content for streaming rivals, media co’s can:

• Leverage their deep knowledge of audiences, content strategy and cultural insights for a revenue generating line

• Build skills and muscle memory in producing content for streaming platforms

• Maintain/extend awareness of their brands among fragmented audiences who are no longer consuming on a single platform/channel

To quote F. Scott Fitzgerald, “The test of a first-rate intelligence is the ability to hold two opposed ideas in mind at the same time and still retain the ability to function”. Those of us in media will be well-served to get accustomed to holding a few strategic models in our heads at once.