WEEK 4 – Would you pay for something that’s free?
This week’s reading by Fred Wilson tried to address the question on the lips of every media owner: How the hell can money be made around free content?
The answer seems to be: look beyond the traditional advertising model. Wilson lists a whole gamut of “thinking outside the square” options, including streaming audio and video advertising or getting users to create the advert and then on-selling it.
But the idea that struck me as most interesting was the Rhodes brothers’ suggestion about selling emails. Essentially, it involves making people pay for information that is also available for free… somewhere on the net. As the Rhodes brothers suggest, people will pay because it makes finding what they want quicker and easier.
It’s a concept that could work for print-turned-onliners. Local businesses could take out adverts in the relevant news emails and be sure they are targeting fellow locals.
Then there’s the free-to-use News Limited concept, TrueLocal, where everyone gets a listing and businesses pay to upload more content.
I like this option best. A tight-ass at heart, I’ll always be prepared to spend a little longer finding my banana cake recipe (yes, tasty as tested by moi) the free way. Although as Chris Anderson points out, I’m probably paying without realising! But then, this is the age-old essence of marketing.
– Koren
PS – In the spirit of the Olympics, check out how this newspaper went for gold.
