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October 9, 2006
What's The Value Of Consumer-Created Content?
With Google's bid to purchase YouTube, it appears the answer is $1.6 Billion.
Why of is this of interest to a blog which focuses more on channel marketing? Because the concept of customer-created content cuts across all business segments. By its own description, YouTube is consumer media company, but with so many people using it, it is changing the mindset of an entire generation of consumers and business people. Even in the near-term, its halo-effect needs to be accounted for in virtually any industry since any company can end up parodied on the site.
Yes, Google has financial reasons for this decision that are unrelated to content -- they need to diversify their revenue mix and even with its business model unproven, who can look away from 100 million+ downloads a day. But the decision further validates the concept of consumer-created content and will embolden consumers and business buyers already wresting the mantle of control away from shaken marketers.
This fad may pass, but its legacy will live on.
Posted by jcioban at October 9, 2006 8:03 PM
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