Content is Not King

Abstract

Historical analogies as well as current expenditure data also suggest that in the "digital convergence" of broadcasting and point-to-point communications, it is the latter that will dominate in shaping the evolution of the Internet. The current preoccupation with professionally produced "content" is probably more a distraction than help in planning for the future. Content has never been king, it is not king now, and most likely will not be king in the future. Spending on point-to-point communications has traditionally been much higher than on broadcast media, and all indications are that this will continue. The development of the Internet is likely to be determined by the same growth of the myriad unpredictable commercial and social interactions that have fueled other communication services.

JEL Classification: M10