AOP 08: Meet the digital pioneers

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Brand Republic

01/10/2008

10:30 a.m. – Four digital pioneers converge on the stage to share their highlights over the last ten years and what they believe the future will hold. Nick Higham moderates a panel which includes:

Andrew Walmsley, founder of i-level

Emily Bell, director of digital content, Guardian News & Media

Peter Cowley, managing director, digital media, Endemol UK

Ajaz Ahmed, founder of AKQA

 

The panel give their various opinions regarding the role digital media will play in the future of business, and how their particular companies have struggled, adjusted and thrived doing so.

Ajaz Ahmed brings up a unique point, that we are now entering an age of “perfect information” where the consumer can use search engine capabilities to comb through bits of information to find the one that best suits them.

“The Age of Perfect Information” has brought three profound changes that have never occurred previous the digital boom. Firstly, the consumer has risen as a creator. Ahmed gives the example of YouTube star Fred, the 14 year old whose videos have garnered more than 8.5m views, almost competing on the same level as terrestrial TV shows like X Factor and Coronation Street.

Secondly, “it’s now all about me”. The proliferation of online communities like Facebook, Bebo and Myspace have proved that the average consumer cares much more about themselves and their close friends and family, rather than what is going on in the world.

Thirdly, search engines like Google, where the best content tends to rise to the top, consumers have never had such ease of access to find what they like, bringing on the age of perfect information.

Andrew Walmsley added to Ahmed’s point saying that the whole medium of social networks changes the existing “contract” between readers and media owners.

For example, when you purchase a newspaper, you pay a low cover price in exchange for having a few advertisements on the page. However, in social networking, the media belongs to the consumers and advertisers don’t have an automatic right to that existing “contract”, advertisers need to earn that right.

Emily Bell changed the pace with addressing the challenges that face traditional media companies making the transition into the digital world. Something that companies must do is embrace the international audience, in countries like China, India and beyond. It will be difficult to build an international model, but crossing boarders is inevitable for strong brands with a big audience.

Most large companies are not prepared to make the transition into international markets, mainly due to the fact that there is not a suitable cross-platform advertising market, but now is the time to seriously invest.

Peter Cowley said that one of the biggest challenges for the television industry will be to fully take advantage of the growth of the on-demand type market. Sites like iTunes and PVR services offer consumers the media that they want. That means that the consumers are no longer seeking out the traditional media owners, and that the roles have switched, companies need to seek out the consumers.

Ahmed added to Cowley’s point saying that traditionally advertisers would rely on media owners to reach consumers, but now the consumer has removed the middle-man, allowing advertisers to invest in their own companies.