Agoracom Blog

Media Execs Are Terrified Of User Generated Content – Why Aren’t Small-Cap Execs?

Posted by AGORACOM at 8:40 AM on Saturday, April 21st, 2007

If you’re a small-cap exec or industry player that still doesn’t get the gravity of Web 2.0, then this Accenture report should jolt you right out of your chair.  The findings are best summarized as follows:

Media and entertainment executives see the growing ability and eagerness of individuals to create their own content as one of the biggest threats to their business, according to results of a survey released today by Accenture

Based on findings of the overall study, Accenture concluded “This is just the beginning for a rapidly changing landscape where the media content environment grows more fractious and the user gains more control and power”.

If media execs and their vast resources are afraid of what is coming - and now implementing strategies to both defend themselves and capitalize on the trend, the small-cap industry should be straight out terrified.  Why?  By failing to address this unstoppable trend over the next 2-3 years, you are giving up control of your message.  Smart, web-savvy groups will exploit the void and determine who shines and who stays in the shadows.

If you thought unmonitored discussion forums were a nightmare, you haven’t seen anything yet.  For example, next time you give a less than stellar presentation in front of a small group of investors at a conference, don’t be surprised to see your presentation broadcast and critiqued on the web the very next day.

The good news is that there is ample time to implement a game plan that keeps you in the game.  Make no mistake about it, a meaningful percentage of control will be taken by those that understand the creation and proliferation of User Generated Content (UGC) but getting in the game will – at a minimum – provide your company with checks and balances so that your message isn’t completely in the hands of others. 

On the flip side, an effective Web 2.0 strategy can put you in control of your message, create greater communication through your own online community and make you substantially stronger relative to peers that outright drop the ball. Given the fact I expect more than 50% of companies to drop the ball, your efforts will pay off in spades.

Time to wake up folks. UGC is coming and you need to prepare.

Thanks to Paul Kedrosky for the lead.


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