Guest Post: Good Riddance

Submitted by John Aziz of Azizonomics [5],

A quick reminder of the facts [7]; newspaper advertising revenue is falling off a cliff:

[8]

This is creative destruction [9]; and creative destruction is a wonderful force for growth and development. Times change, societies change, fortunes will be made and fortunes will be lost.

It’s in the immediate interests of the entrenched big media elite to harness the power of the state to create draconian laws to snub out the copy and paste new media culture that has developed, because that opens up a whole new revenue stream: litigation. If you can’t earn your millions, you might as well litigate your way to them [10].

But big media could be spending their money on creating and monetising compelling products and content delivery systems that make people want to buy, rather than trying to legislate and litigate their way to success. Look at Steam, look at Spotify, look at iTunes and the App Store. For all of the draconian measures that might be put in place to “control” the internet, if big media’s product sucks, people will still not buy it.