Consumers want access not ownership

This article on Paid Content adresses changes in consumer behaviour. Its author argues that the latest generation of Media users are no longer interested in owning content but simply in access to it. It digs into a history and finds that there really has been only one generation that owned media in large quantities (on CD’s and DVD’s). The under 25’s who grew up with online media are more likely to want access to media without having a need to own it on a carrier or otherwise. The monetizing of access has not reached its final model and this, the author argues, is going to be the key to unlocking  billions of dollars in value.

“That no one has truly figured out how to successfully monetize access vs. ownership. Content companies were great at monetizing ownership. Monetizing access is a very different expertise – and content owners have relatively little experience in implementing it. By studying the data about access to music and video, one has to realize the potential of monetizing access. If you add up the views of music videos on YouTube and the audio streams of music on MySpace alone, they are in the billions per year. The popularity of access is enormous. The value of access is enormous. The monetization potential is enormous. But try to remember, for a moment, how long it took the radio industry to evolve into a profitable TV industry? (Hint: a lot longer than a decade.)” via In The New Content Economy, Consumers Want Access Not Ownership | paidContent.