There is an interesting article at the Times Online about the new book „the cult of the amateur“ by Andrew Keen. A cry out against the crowdism of web 2.0 and how it is killing our culture. How user generated content on wikipedia, blogs, youtube, et al results in the crippling of traditional, quality content producing industries.
I don’t agree. I think quality will still prevail. The problem with some of these „quality content producers“ was simply the fact that it wasn’t really good quality. The value for money isn’t right. So it is better to watch much worse content from users for free rather than paying anything for only mediocre content.
I think this whole trend will only result in a market shake out. Providers of really good content will always be able to charge money. They will always enjoy large appreciation. But those providing contents with little added value (e.g. newspapers simply copying news from a press service or TV stations showing low quality TV series) will face a decrease in acceptance.
They also state the example of how the interent has resulted in big problems for the music industry. This I don’t agree with at all. The biggest problem of the music industry is the fact that they have not adapted quick enough. There is lots of potential to leverage the net. Apple with iTunes has proven that there is lots of opportunities!
The internet is making standard market mechanisms more efficient, that’s all.