1 / 21

Building the Information Valet Economy

Building the Information Valet Economy. Sustaining news and information through a shared-user network http://www.Informationvalet.org http://www.ivpblueprint.org Bill Densmore October 9, 2008. Key goal.

oscar-cantu
Download Presentation

Building the Information Valet Economy

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Building the Information Valet Economy Sustaining news and information through a shared-user network http://www.Informationvalet.org http://www.ivpblueprint.org Bill Densmore October 9, 2008

  2. Key goal Assemble a coalition of publishers, advertisers, technology and financial-services companies in a federated-authentication / shared-user network for internet information commerce.

  3. Key results • Online users to easily share, sell and buy content across multiple Web sites with one ID, password, account and bill. • Update role, effectiveness, compensation for online advertising through personalization • But … user privacy/profile management controlled by the consumer.

  4. “The evidence is mounting that the news industry must become more aggressive about developing a new economic model.”--Project for Excellence in Journalism, The State of the Media 2007 Problem recognition

  5. “ ‘Long term, we've got to get paid for news (online) or we can't keep producing it,’ [Singleton] said. But he said that it has to be an industry-wide solution and not just one paper acting alone.” -- Dean Singleton, CEO, Media News GroupPosted April 28, 2006 at: http://www.twincities.com/mld/twincities/business/14446579.htm Problem recognition

  6. “We must change how we charge for content . . . One-size-fits-all on the business side has to evolve. Tiered pricing with premiums for timeliness or comprehensiveness is one option.” - Tom Curley, AP CEO, Nov. 10, 2007 Solutions

  7. “ . . . [T]he more time I’ve spent on this, while I think there are legal things, enforcement things, etc., etc., they are not the meaningful way to fight piracy. The meaningful way to fight piracy is you need to give consumers legitimate options to get what they want.”-- Peter Chernin, president, News Corp.Aug. 4, 2008, interview with Charlie Rose Solutions

  8. “Maybe the solution isn't to escape the market, but to empower it. Modern computing offers unparalleled capacities to track and calculate. Imagine a vast menu of news and commentary offered to you ad-free for pennies per item, the charges micro-billed, added up and presented like a utility bill at month's end. -- Edward Wasserman, Washington & Lee Univ. Miami Herald column published Feb. 18, 2008 Solutions

  9. “Buffet muses out loud: ‘The ideal combination would be if The New York Times, the Wall Street Journal and The Post had a joint web site, and you couldn’t get any one individually. That, you could sell for a fair amount of money, and it would have one hell of a readership.’ ’’ -- Warren Buffett, quoted in Fortune Magazine, July 26, 2007 / http://money.cnn.com/magazines/fortune/fortune_archive/2007/08/06/100141340/ Solutions

  10. The Situation Today • Journalism is expensive, and mass-market web advertising alone will not sustain it • Subscriptions for content puts up walls that destroy the unity of the open web • Sustaining journalism requires rethinking the very notion of news as a service, not a product

  11. The Situation Tomorrow • The news industry becomes a trusted and ubiquitous advisor, authenticator and retailer of all web content • Audiences are measured through a federated network that also tracks and shares revenues for ads and content • Consumer controls demographics, and can be rewarded for looking at ads and sponsored content. • Sophisticated pricing and bundling options give consumers more buying power by subscription or per click

  12. The Information Valet • An Information Valet is each user’s most-trusted gateway to the web • The gateway can be any site that chooses to participate such as the newspaper, Facebook, a U.S Bank or VISA • Participants benefit by helping users find the content and services they want

  13. The Concept • Collaborative system owned by larger users, not equity stakeholders – non-threatening because it cannot be “rolled up” by a dominant player • Establish value for the delivery of specialized audiences, and reward gateway sites for providing this service • Demographics are shared based on the opt-in permissions set by consumers

  14. For Consumers • A single user ID that works everywhere • Get paid for viewing ads • One-stop method for buying text, music, movies, services • One bill for all online content purchases • Privacy controls to protect personal data • A more personalized online experience • Faster, easier access to the content you want • Opportunities to exchange personal data for access to premium content

  15. “What will happen next is that the audience will say: If you’re going to sell us to advertisers, then you’ve got to pay us. And that’s the long-term challenge that I think newspapers are going to be facing.” -- Paul Maidment, exec. Editor, Forbes Magazine Interviewed during “On the Media,” Feb. 25, 2005 http://www.onthemedia.org/yore/transcripts/trnascripts_022505_aboutface.html The value of one

  16. For Valets • Valets compete to be best at meeting consumers’ diverse information needs • Each valet is compensated for finding, shaping and referring audiences • Valets help advertisers present targeted messages to end users who opt-in • Internet advertising becomes more valuable • Convert 50M newspaper customers to web-info customers

  17. HOW IT WORKS • Flash animation shows flow of information from consumer to websites to network authentication and logging service. Key points: • No permanent central user database • Only enhanced log report saved for periodic settlement • User controls level of demographic sharing • http://tinyurl.com/4amatq

  18. Project tasks • Convene cooperative members • Form, capitalize association • Manage network/technology build • Establish rules for enumerating, exchanging value • Assure privacy; opt-in demographic sharing • Contract some operating pieces

  19. What’s the result • News organizations paid as service providers – gateways to premium ($$) or sponsored (ads) info anywhere • Users get a simplified, personalized web experience • New revenue sources unlocked (wholesale/retail); personalized ads/services

  20. What can you do? • Help identify founding collaborators • Invent new forms of ad personalization/targetting • Assert that news has value or it goes away • Be creative about originating, remixing information that’s unique, needed

  21. Building Info Valet economyThank-you! Sustaining news and information through a shared-user network http://www.informationvalet.org Bill Densmore Densmorew@rjionline.org Donald W. Reynolds Journalism Institute October 9, 2008 573-882-9812

More Related