Nic Brisbourne has a great post at the EquityKicker (and indeed Paidcontent’s) about 21st Century Business models for the publishing industry. Nic predicts a much smaller print media industry:
“The successful news company of the future will have to take all this on board and deliver it with a radically lower cost base than this industry is used to. In the digital world, the news industry, like many others, will be radically smaller. This contraction is partly a consequence of much reduced distribution costs, but is also a reflection of the fact that the monopoly rents Fleet Street enjoyed in the last century are a thing of the past. Witness how Craigslist has reduced the multi-billion dollar classifieds industry to nearer $100 million.”
While I think there are a number of things that existing organisations to do to re-engineer themselves for this future, (and indeed if they can lever their brands effectively, they may be able to continue to run highly profitable organisations in the future), something else is less clear to me in the UK.
Times like these should create massive opportunities for entrepreneurs yet all of the examples of successful entrepreneurial led businesses taking advantage of the revolution that Nic cites (Huffington Post, TechCrunch, PerezHilton, Pitchfork Media etc are all US based).
Where are the UK success stories of significant size or ambition?