Umair Haque writes:
…In a micromedia world, content can be very closely tailored to individual preferences. Put another way, in a mass media world, we each suffer some amount of disutility from having to consume mass media that doesn’t closely match our preferences.
Because micromedia can cause us each to suffer less disutility, the total amount of value that can be created in a micromedia world is greater than in a mass media world. For the folks I was talking to, who were focused on real-world effects, the point is that demand explodes relative to supply (and the equilibrium price of your content, and your margins, and, even better, such an advantage is sustainable).
This doesn’t have much to do with big vs small production budgets. In fact, that’s almost missing the point entirely: micromedia’s happening because the cost of production is being vaporized by order-of-magnitude step changes in technology. So yesterday’s big budgets become today’s small budgets (think about the kind of video production you can do on a Mac today vs even five years ago).