I spend a lot of time on the interstate, so I really have a lot of time to think. And I realized how similiar interstate driving is to the current state of the media industry.
There’s always three types of drivers…
- Those who have no clue where they are going and can’t keep a constant speed.
- Those who go at least the speed limit, but often faster.
- And those who drive 55 mph or less in a 65 mph zone.
So what does this have to do with media. Well… media companies really can be summed up into these categories.
- Some Media Companies can’t keep a constant speed and often have no clue where to go. But at least they are plugging ahead. The biggest problem is that they don’t know where to go, and are too proud to ask for help.
- Then there are those who are driving fast, they the up and comers, they know where they are going, and they are even will to take some risks and drive a little faster to get there. They are the people putting the pressure on traditional media.
- And finally we are left with those driving 55mph. They don’t want to risk going too fast. Slow and Steady. Many newspapers fall into this category. They figure they will get there in the end, why be in any hurry…
But the problem is that on this magical highway, one thing is drastically different. The road is disappearing, and if you take too long to traverse it, you will one day find there is no longer a road to drive on. You’ll be left with nothing.
Don’t believe me? Look around the industry. Stocks are down, layoffs are everywhere. And yet we continue to peddle along, in no hurry to get to that revenue destination.
So what do we do… Push the speed limit. Drive fast. You can always tap the breaks if something gets in your way.
Its better to have to slow down once in a while then find that there is no longer a road to drive on.
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