Dion Hinchcliffe uses the word “monetize” [sic], but the principle is the same. Compare folio the diagram in Part 1.
But the biggest question that comes up is that if you let your users generate most of your content and then expose it all up via an API, how can a profitable business be made from this?
His thesis is to examine methods to go far beyond advertising, subscriptions, and commissions. The bullet points below have been abbreviated for readability.
Some of the indirect ways which lead to revenue growth, user growth, and increased resistance to competition […] are:
Maintaining control of hard to recreate data sources.
Building Attention Trust
Turning Applications into Platforms
Fully Automated Online Customer Self-Service
The article is a comprehensive read, and acknowledges pro and con viewpoints for each opportunity,
While a great many startups are not generating revenue in huge quantities yet, the companies that have been diligently exploiting open APIs such as Amazon and Salesforce are in fact generating significant revenue and second order effects from opening up their platforms and being careful not to lose control. This is actually a large discussion, and as large Web 2.0 sites continue to emerge, we’ll continue to keep track of what the successful patterns and practices are.
Thus we are left with questions. Always more questions.
The one that concludes this brainstorm is:
What other implications are there by putting users in control of content generation and open everything up?
How would you advise a client on the best way to drive participation in one shaded ball towards revenues from another?
I can’t see a clear path forward, as you can’t make a consumer do something; one can suggest and imply a desired action, or one can induce behaviours. You can also create desire for something seemingly unattainable.
But forcibly obliging a customerbase to perform an action? That’s performing-animal territory.
Just grabbed a copy of this yesterday, and started listening to it today on DVD-Audio.
I agree with Giles Martin’s quote:
What people will be hearing on the album is a new experience, a way of re-living the whole Beatles musical lifespan in a very condensed period. [Source: NME]
It’s faithful to memories of The Beatles, and is a respectful mashup. The work that has gone into the Dolby Digital, DTS and 96kHz 24-bit mixes is clearly evident. Why bother with the CD when you can even use the disk in a normal DVD player and rattle the windowpanes with surroundaliciousness?
Well worth a listen even if Cirque du Soleil is not your thing. Strawberry Fields is the standout for me after my first listen.