Barnaby Marshall talks with podcaster and G4TechTV broadcaster Amber MacArthur, CBC broadcaster Jian Ghomeshi and Rocketboom co-founder Andrew Baron. We paraphrase their discussion here.

BM: What does the Web 2.0 mean to traditional media?

JG: Old media is going to win because they've learned the lesson of the media business. Old media is doing it very effectively for example with MySpace. Online readership of the New York Times has surpassed the print version... they've done a good job of diversifying. The NYT will not die.

AB: They have learned their lessons but the music industry did lose a degree of control. Apple now owns the music industry - Apple is the single industry that is controlling prices and is playing a gate keeping role. Rocketboom is an example of how the Internet is allowing small groups access to an audience, including a global audience. Their advertising garners 3 times the CPM value of television advertising on programs like "Lost."

AM: The power of the web is in its degree of reach. My blog can reach people almost everywhere. Broadcasters have to learn how to deal with this or they'll be left behind.

JG: The ability to be heard if you're a band has profoundly changed. Pandora is a brilliant resource and great news for artists... The turning point will be when there is ubiquitous wifi in the automobile.

AB: The most profound thing the movie industry is going through is that you've needed money to make films until now. The technology allows almost anyone to put out a movie.

Audience: Why will old media win?

JG: The moneyed interests of old media are willing to take the risks and will offer $500 million for a company they want. The really good stuff stands the chance of being co-opted.

This panel's meta-theme (...read more...)