Just got this new video - it was a good talk, imho, even if the camera angle is kind of odd... so check it out. Thanks to Incisive Media for making this available; more details on the conference are available here
My topic: "Everybody is talking about 'data is the new oil' aka big-data. SoLoMo (social local mobile) is the battle cry of the day. Human-machine interfaces are rapidly evolving and may quickly become commonplace (think Google Glasses, MSFT Kinect), artificial intelligence is the geek-phrase-of-the-day, and Kurzweil says the singularity is near/here. So how will our world really change in the next 5 years, i.e. the way we communicate, get information, create, buy and sell, travel, live and learn? What are the biggest threats and the hottest opportunities - not just in financial terms, but also in societal and human terms...?" Here is the PDF with my slides.
This is a very nicely recorded video (thanks to the BBC NI and their fabulous studio in Belfast) and I cover a lot of ground as far as the future of media is concerned; one of my best talks on this topic, to date, imho:) Enjoy and share!
You can download the PDF with most of the slides here , or just browse my Slideshare channel. In this talk I cover most of the key topics such as 'the people formerly known as consumers', the shift from ownership to access, advertising becoming content, independence replaced by Interdependence, the end of attention monopolies, the social OS aka SoLoMo.
Special thanks to the BBC NI for making a great video and sharing it with me and everyone else. Also special thanks to Tiffany Shlain and her great work - be sure to watch 'Connected the Movie' asap!!
The Future of Business & Communications. Social. Local. Mobile. Cloud. And why Data is the New Oil. Futurist and CEO of TheFuturesAgency Gerd Leonhard was the keynote speaker at the Olavstoppen POL conference on May 3rd 2012 in Stavanger, Norway.
From a new eMarketer post (and related report), here are some interesting snippets:
"In a sign of how important online streaming and subscription music services have become to the recording industry, trade publication Billboard recently updated its weekly Hot 100 song chart to include data from Spotify, Slacker, Rhapsody, Cricket/Muve, Rdio and MOG. The revamped methodology went live in March 2012, after several months of testing that showed a rising curve for audio streams, from 320.5 million in the first week of 2012 to 494 million during the week of March 4, 2012. By comparison, digital track sales during that period decreased from 46.4 million to 27.1 million, according to Nielsen..."
This is, of course, totally obvious: as good as it is, iTunes is essentially an inadvertent punishment for being interested in more music, since every desire to listen to aka 'consume' new music results in having to spend another dollar on downloading the track. Cloud-based services don't have that problem - and clearly I won't pay $ 20.000 to fill up my iPod with Apple's music, while I have no problem saving 2000 Spotify tracks on my iPhone anytime I want to (and for $10 / month). I have been talking about this for the past 10 years, but here it is again: access is replacing ownership, like it or not (and I don't see a reason not to like it, as user or as creator). We can wish for this to be different, but it's not. End of story. Participate or become insignificant.
"Another indicator of the popularity of cloud-based streaming was a 50.5% increase in online music listening hours in 2011. According to a February 2012 report from AccuStream Research, US consumers spent 1.3 billion hours listening to music through internet radio and other streaming services in 2011, up from 865 million hours in 2010. The media spend associated with US internet radio and on-demand streaming services amounted to $293.7 million in 2011, according to AccuStream Research. This compares with $171.7 million spent on subscriptions to those services. AccuStream forecast that the total market would grow by 78% in 2012... Ad monetization is expected to grow at a healthy clip on the mobile side as well. eMarketer expects US mobile music advertising revenues to hit $591.5 million in 2015, more than doubling 2012’s total of $264.5 million. According to eMarketer estimates, the advertising component of mobile revenue is much higher with music than with gaming or video, largely because of the popularity of Pandora and Spotify on mobile devices..."
Yes, of course, streaming music currently makes much less money for the content owners and rights holders than downloading does - but the key to making this work is to get EVERYONE involved in streaming legally via one of the existing or future services and platforms, just like radio, i.e. starting with a more or less free / feels-like-free or freemium offering. The math is simple: if 200 Million people use Spotify or Simfy or Rdio - whether they pay 'with attention' aka advertising, via telco bundles, or with their own cash - then the rightsholders will see some serious money coming their way. If they can't allow this market to grow, then it won't be created (at least not in a legal way)
The bottom line is: the music industry has to monetize AROUND the music, not just WITH the music. Think advertising, bundling, added values... new generatives. There is no sense whatsoever in fighting the obvious trend of access replacing ownership.
Just found this via Ricoh Europe, in collaboration with The Economist (free PDF download, but requires email registration). This is a definitive MUST READ. Serious intel and stats here, and totally spot-on foresights.
“The purpose of looking at the future is to disturb the present” (Gaston Berger) was his opening gambit with photos of toddlers using iPads and the comment “these are your future clients” - the AO (“Always On”) Generation. We laughed at more photos where small children walked away from print magazines thinking them broken as nothing happened when they touched the images. His ideas then flowed out fast and fascinated us all.
Empowerment – More iPads than PCs have been sold and tablets can be made cheap and solar powered. The hierarchy of needs must be revisited as young people throughout the world will find money for mobile phones and tablets instead of other consumer goods. The world has shifted from service empires to networks and we are the content. Social media has made broadcasters of us all and the global village is in chaos.
Networked society – We have moved from being in a broadcast environment to being part of the chain of communication. The model is no longer one to many but now many to many. Youtube effectively wiped out MTV in 24 months and is making $36 bn pcm revenues. Convergence means there will be “networked law firms” and the leaders will become connectors rather directors. We will move from hyper-capitalism to hyper-collaboration.
Newscape – Despite all the free information, people still pay to use their preferred print medium. This may be because they trust the source, value the filtering or prefer “packaged news”. It suggests that information providers need to find new ways to add value all the time. Spotify is not about legal access to music – it is about seeing the music preferences of all of your friends. There will be a “tyranny of transparency”.
Control, access and authority – We were urged to consider a number of recent developments – copyright in music, unbundling, NetFlix, ZipCar and peer-to-peer collaboration. There was a nice image of lots of yellow Lego brick model heads all with different faces. He advised of the “loss of default expert” status and said that “sharing is the new owning”. He mentioned the famous McKinsey report which warned those industries that are still trading on information asymmetries (real estate/property industry watch out especially!).
Freemiums – There was a move towards things that “feel like free” – with LinkedIn and Skype and various online games providing free access to allow users to become familiar with and then reliant upon systems before payment was required. The key is to capture large volumes before charging as the value paradigm is changing. Do things for free and get a 50% conversion rate to the next (paying) level.
Nowness – There are new roles in the digital ecosystem – and real time has taken over with virtual services and “hangouts” increasing. He showed a video of a FedEx delivery man throwing a package – to illustrate that everything is observed and recorded. I liked his idea of organisations having “Chief Mavericks”. He said that the law model – where lawyers produce content – will be challenged as it was based on scarcity and we are now in a digital society where information is ubiquitous.
New business models - He then offered some observations on “rethinking the legal business model”, asked us “how visual are you?” and pointed to:
Influence and reputation
New ways to get paid (e.g. Facebook credits, currency for “likes”)
He talked about the changes endemic in moving from a world of “people of the book” to one of “people of the screen” and noted that you cannot outsource creativity, trust and human relationships. And, in what must have been like balm to the lawyers in the room, he said that “trust is the new currency”. He explained that MIT had put its entire course library on line and available to all – yet still received a 38% increase in requests to attend – people don’t want the knowledge, but the experience.
From the age of software to the age of data – Following the mantra of digital PR he asked us how we were monitoring our on-line reputations and said we must move to “data curation” and quoted Umair Haque (HBR) on the need to shift “from value chain to value circles”. He said we are all content businesses, brands who publish and that interaction comes before transaction. Return on Investment is being replaced with Return on Involvement, and commoditisation with collaboration.
To summarise, he mentioned Social, Local, Mobile, Video – and all at speed. That “like economics” will dominate (we need to find new reasons why people come to us), trust the new currency, data the new oil, to consider return on involvement, to seek interaction before transaction and to accept the loss of control. I am sure that I have not done justice to this startling presentation nor its presenter. And while it may seem like a stream of sound bytes, he did provide examples and elaboration (usually with some form of video illustration) of all the points. I have already downloaded his Futurist App. Originally, I had decided that – on reflection – I did not fear the future. And after these talks I decided that I was actually quite excited about the possibilities ahead. Yet I suspect there will be those in the audience who were thinking of that Chinese curse “May you live in interesting times”.
Absolutely agreed. This is a huge powershift. Get ready to be disrupted. Read more here.
"London, 16 February 2012 - New figures from a study sponsored by Ricoh show that by 2020 the impact of new technology in the workplace will force businesses into a new era of decentralisation. The research , conducted by the Economist Intelligence unit, shows that 63 per cent of business leaders predict a shift towards a more decentralised business model and that responsibility for business decision making will move from centralised management boards towards individual employees. “We believe that businesses will be more process orientated, ensuring that critical information is more centralised and data can be received, stored and retrieved by employees. This will mean decision making can be less hierarchical and allow employees, who are collaborating directly with customers, to make important business decisions, without delay,” says David Mills, Executive Vice President, Operations, Ricoh Europe.
Supporting closer customer collaboration is essential as by 2020, business leaders believe that customers will be the main source of new product or service ideas. Furthermore, 86 per cent of business leaders agree that customers will become an integral part of internal decision-making and that project teams will typically include people from outside the organisation such as customers and business partners... In the future, there will also be a need to consider how experts outside the organisation can input and retrieve information to act on behalf of the business. 85.7 per cent of business leaders agree that project teams will typically include members from outside the organisation (for example, customers, partners, communities)... Mills says, “In the new era of decentralisation it will be essential for businesses to do more to adapt to the digital world, especially as critical information will need to be accessed by employees, many of whom will be working virtually or outside the business..."
His current, and maybe most important topic is the coming convergence of Internet technology and digital communications with energy and environmental issues - the idea of an Internet of Energy. Because of my recent expansion into what I call GreenFutures this concept has really struck a chord with me.
Jeremy Rifkin is president of the Foundation on Economic Trends and the author of seventeen bestselling books on the impact of scientific and technological changes on the economy, the workforce, society, and the environment. One of the most popular social thinkers of our time, Rifkin is the bestselling author of The European Dream, The Hydrogen Economy, The Age of Access, The Biotech Century, and The End of Work.
Here is a video of his recent appearance on the Charlie Rose show:
Jeremy Rifkin, 'The Third Industrial Revolution' "How lateral power is transforming energy, the economy, and the world." Charlie Rose 06.01.12 [1080p] http://www.charlierose.com/guest/view/7302
Join Jeremy Rifkin as he describes how the five-pillars of the Third Industrial Revolution will create thousands of businesses and millions of jobs, and usher in a fundamental reordering of human relationships, from hierarchical to lateral power, that will impact the way we conduct business, govern society, educate our children, and engage in civic life.
I just ran across this video in a very well-written Atlantic.com piece called the Ballad of Mark Zuckerberg, here. This is a must-read and must-watch.
"Zuckerberg, Jeff Jarvis has declared, "sees Facebook as a next step in the net's evolutionary scale toward humanity." And so the young CEO has become a kind of evangelist for the future he is helping to create. "To get people to this point where there's more openness -- that's a big challenge," he told David Kirkpatrick. "But I think we'll do it. I just think it will take time."
Of course I would be very happy if you would consider buying the book for yourself (only $3.90, Kindle-only) but beyond that it would be really great if you could help me spread the word via rating and / or 'liking' the book on the Amazon.com page, tweeting about it or just forwarding this mail to some friends that may be interested.
This review is from: The Future of Content (Kindle Edition)
"I challenge you to expand your brain and read this book. What Gerd Leonhard is always doing is informing the global brain (or the collective brain) in ways that help us all get where we're trying to go. He builds the buildings in front of us.
This collection points toward several compelling answers for content creators. As a writer who is already swimming in the changing currents of "content," I found it intensely informative. Leonhard shores up my courage to continue embracing a digital world without DRM, and ebook prices "for the masses." He makes the all-important concept of curation crystal clear. If you are providing any kind of content in print or on the web, it's relevant. If you want to stay on the front edge of content creation and publishing, it's basic. I'm making this book mandatory reading for my epublishing circles"
ABOUT "THE FUTURE OF CONTENT" Futurist Gerd Leonhard has been writing about the future of content i.e. music, film, TV, books, newspapers, games etc, since 1998. He has published 4 books on this topic, 2 of them on music (The Future of Music, with David Kusek, and Music 2.0). For the past 10 years Leonhard has been deeply involved with many clients in various sectors of the content industry, in something like 17 countries, and it’s been a great experience, he says. “I have learned a lot, I have listened a lot, I have talked even more (most likely:) and I think I have grown to really understand the issues that face the content industries - and the creators, themselves - in the switch from physical to digital media.”
This Kindle book is a highly curated collection of the most important essays and blog posts Leonhard has written on this topic, and even though some of it was written as far back as 2007 - “I believe it still holds water years later. I have tried to only include the pieces that have real teeth. Please note that the original date of each piece is shown here in order to allow for contextual orientation.” Leonhard’s intent to publish this via the amazing Amazon Kindle platform, exclusively, and at a very low price, is to make these ideas and concepts as widely available as possible while still trying to be an example of what digital, paperless distribution can look like, going forward.
This is a brand-new and very nicely produced video - a big thank-you to Google Australia for making it available so quickly. If you are in the travel business, do make sure to watch this video, and check out the other speakers and their presentations, as well. Enjoy, RT, Google + this :)))
This is an important topic, I think - let me know how you like it. Topics: why data is the new Oil, why most content will be paid for by 'attention', the radical convergence of media and what it means, the total redefinition of 'consumer', going from 'the network' to 'The Networked' etc. Download the low-res PDF: Download Data Oil Gerd Leonhard Bergen Public LOW RES
18 minutes can be quite short, I think; I always feel a bit rushed as a consequence. But either way, I would love to get your feedback on what you think about this fast-paced presentation; so please leave your comments below or email me. To make this a bit easier, here is the PDF (18MB) of my slides: TedXWarwick Gerd Leonhard PDF. Provided under the usual creative commons attribution non-commercial license, just like all my other slideshows and videos. Most other TedXWarwick can be found here. You can download my book "Friction is Fiction" here (free and hopefully 'friction-less' PDF), or buy a dead-tree version here.
This is a good one - loads of information in here, and pretty well recorded. More details and PDF with all slides, here. Enjoy and spread the word. Subscribe to my video RSS feed, here, if you want (download all videos directly to iTunes, watch on your iPod etc).