My intention to live blog and microblog the nextMEDIA conference were dashed by the almost total lack of Internet connection and only one power outlet in the place. The venue CiRCA, is not appropriate for a conference. I've been here before for a conference - or rather unconference, CaseCamp - and the novelty of being in a trendy nightclub (complete with S&M figurines) was cool but the novelty wears off when one is spending an entire day here, let alone two days in a space designed for clubbers to bump and grind rather than sit and learn. Symbollically, the S&M figures were covered up today so as to not offend the less-hip conference go-ers. Waiting almost an half an hour in the cold to get in to then register started the day out for me in a grumpy mode, but fortunately I was able to recover due to the caliber of speakers. Grade A line-up of speakers with reps from YouTube, eBay, Google, CBC, Nokia, Rogers, Canwest, comScore, the infamous SuicideGirls.
The conference was sold out, so much so that quite a number of people didn't even get a seat. There seemed a better mix of people - young and old, content creators and marketing types, men and women - than at most Toronto Internet or tech events.
The theme of the nextMEDIA conference is monetizing digital media . A great topic as having lived through the first dot com bubble I was wondering how these web 2.0 darlings were going to make some money. As the opening keynote speaker, Shelly Palmer, declared the Internet is good at creating value, but not so good at creating money from that value. (There did seem consensus that no one could figure out how Twitter was going to make money.)
If there were common points from today's presentations, it would be that it is possible to monetize digital media and industry-standard metrics for digital media are needed. Regarding the latter, the term engagment was used a lot. While most bandied it about as the holy grail of digital media, Palmer pointed out that this terms means different things to different people due to various ways of measuring this and until we can agree on a common definition it is hard to sell deals based on engagement. Thus we are left with metrics such as impressions or click-throughs that may not work for us.
Some of the tips for monetizing aren't that earth-shattering: affiliate marketing, storefronts, transactions, corporate sponsorship, advertising.
Interestingly, the keynote was to be "Economic Meltdown: Will 'Free" Save the Future" but Palmer changed topics as that one was "too depressing". While some of the digital media projects presented today, whether cool mobile apps or online television, are really excited both from a consumer and insider perspective, I would have like Palmer to have addressed the topic. Having lived through a collapse of online advertising dollars, I am curious who and survive and how.
Gary Symons, former CBC journalist and the CEO of Vericorder, was on hand at the 24th Angel Forum at the SFU Harbour Centre today promoting his vision of a truly portable, rugged and wireless field recorder for audio recording. Vericorder's product is a portable device that integrates with an ordinary cell phone, making it completely portable, and costs only $500, contrasting with expensive, bulky field kits currently in use that cost upwards of $5,000.
The device will also encrypt raw audio (using a system called TRAC, or True Audio Redoring) so it can't be tampered with avoiding legal problems. However, the device will be able to edit whil ein the field, as well as post audio. Besides broadcasters, Vericorder is targeting podcasters, freelancers, and citizen journalists with their basic recorder, priced at $250. The professional version will be available on the Blackberry and the iPhone through app stores.
VeriCorder Technology is dedicated to bringing trustworthy, advanced recording and editing technology to the “Smartphone” and PDA marketplace. [more]
Big news earlier this week when Canwest Global Communications Corp announced initiatives to reduce their annualized operating costs by approximately $61 Million. The move translated into 560 layoffs - about five per cent of the company's workforce through voluntary buyouts, attrition and reductions. Canwest management pointed to the current economic environment as well as the structural challenges in the conventional television model as the reasons why.
Interestingly, CEO Leonard Asper stresses in the announcement that Canwest is still eager to transform into a multi-platform media company and build its audience using digital media.
"Having completed an assessment of our Canadian operations and, after careful consideration, we are implementing a number of initiatives that will provide savings that will allow us to better compete in the current economic environment, without compromising our core products and services,” said Leonard Asper, President and CEO, Canwest. “It will not impact our strategy to invest in growth media like digital online, mobile and specialty channels.”
I'm not sure why Asper felt the need to assure shareholders and employees that the operating cost reduction wouldn't impact their digital media strategy... until yesterday.
Word on Vancouver streets is that NowPublic is about to be acquired by Canwest. While a NowPublic acquisition may not seem like a significant transaction, keep in mind that Canwest's current market capitalization is a paltry $80 Million - down from $700 Million only one year ago. NowPublic raised $10 Million in venture capital in July of 2007.
This rumour may have legs. NowPublic Co-founder Len Brody has advised Canwest in the past.
Canwest is Canada's leading international media company. Representing a portfolio of world-class brands, the Company creates and distributes some... [more]
NowPublic is a participatory news network which mobilizes an army of reporters to cover the events that define our world. In twelve short months,... [more]
Professors might scoff at the herds of students wandering campus with those signature white iPod earbuds, but starting this semester at the University of British Columbia, those students may have been learning. This fall, UBC joined Apple's iTunes U program , wherein school content is made available for free download through their own section of the iTunes Store . Files can be restricted to enrolled students-only, but the majority is available free to all.
"If you are a student, you probably don't know how to find UBC web content because it's spread across university websites... We know students use iTunes, so this collects what UBC has and takes it to their environment," says Alfred Hermida, who helped to pioneer the British Broadcasting Corporation's (BBC) news website as a journalist before joining UBC in 2006.
Other Canadian institutions doing the same include the University of Western Ontario, the Banff Centre, Queen's University, and Université de Montréal. UWO also started this semester and doesn't have any lecture content up, but has used it for other content like convocation addresses, school news, and recordings of student council meetings. Pacific Northwest schools on iTunes U include the University of Portland, Pacific University, and Seattle Pacific University. In total, over 75,000 audio and video files are hosted on iTunes U from 150+ institutions in the US, Canada, Australia, Ireland, and the UK.
It's great to see schools embracing new technologies, and that they can be presented in a way that's accessible to both instructor and student. Students get learning materials through the media player that they probably already have installed. Instructors are given an easy platform on which to host their content; UBC's page provides basic audio recording and editing instructions using free software. And everyone gets the benefit of all the free educational content available through iTunes U.
Yesterday on Canada.com, Peter Hadekel wrote about a Montreal startup that is helping Big media achieve the holy grail - convergence. Print, broadcasting, the Internet, or wireless - delivering content and advertising to all these audiences has been difficult to date. Convergence was the inspiration for BCE Inc.'s acquisition of The Globe & Mail and CTV and led to AOL's takeover of Time Warner in the US.
In Montreal, entrepreneur Yves Eric Laliberte is on the front lines of the convergence phenomenon. His company, StreamTheWorld, provides audio and video web-streaming to media companies. StreamTheWorld's customers include 1,000 radio stations that stream their programs live on the Internet - Laliberte claims that is about 60% of the North American radio market.
The company also serves newspapers like Montreal's La Presse and publishers like Chicago's Tribune Co. who are eager to put video clips online to supplement their news coverage and draw both readers and advertisers. Laliberte also notes that among StreamTheWorld's client list is CBS and ESPN.
While many convergence-inspired deals like the ones above have failed to pay off in profits, StreamTheWorld is making the best of the convergence trend. They currently employ 60 and expect to do $7 Million in revenue this year.
StreamTheWorld is a rapidly growing media streaming technology and services company that was founded in 2005. We currently provide streaming video... [more]