Thursday, May 28, 2009

Convergence RIP

Eight years after AOL swallowed Time Warner in the deal that engendered the worst media business plan in history, multiplatform convergence, Time Warner today puked out AOL.
Convergence was used to justify grotesque cross-ownership deals that resulted in massive debt that's now killing newspaper chains and TV networks. It was a disaster that was egged on by corporate greed and stupid academics who believed, somehow, that converged media would lead to "electronic democracy."


Anonymous said...

I'll save judgment on whether convergence has failed only after I see the results of the Twitter - TV combo. TMZ on TV and has been quite a success. LOL!

Ottawa Watch said...

Let's see if twitter is around in five years. My bet: no.
People simplay aren't that interesting.
Twitter is a social medium like the telephone. It's not really a news and entertainment medium, the way Youtube is.
Don't forget, either, that Facebook, Youtube and many of these other social sites have never earned a dime in profit. How long can they last in their present
(I would be willing to pay for Facebook because it's a great way to maintain business and social contacts. I'm not sure how many other people feel the same way.)

JA Goneaux said...

Yes, TMZ on TV is watched (mostly), by the same people whose only reading material in a tactile sense are those commuter papers and gossip rags.

I truly fear for the future when these sub-literates are running things in 20 to 30 years. (And yes, I sound like my father...)