Word: internet
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...What changed the public perception of Ticketmaster from a convenient aggregator into an evil empire was the Internet. People, including music fans, buy everything directly online these days, so it's jarring not to be able to buy concert tickets straight from individual venues or, for that matter, the bands themselves. Plus, it annoys fans that Ticketmaster - with its exclusive agreements with venues and 2008 acquisition of a company that manages artists - has such a stranglehold on the industry. (To be fair, not all of the fees tacked on to ticket prices are collected by Ticketmaster, but the company...
...Movies, TV shows, magazines, radio programming and high-quality internet content were viewed as having a significant intrinsic value. The best content can be moved from one medium to another, increasing its value even further. TV shows can be played on TVs, PCs, and handsets. Newspaper content can run on a printed page or on the internet. Radio can be broadcast from satellites or radio towers. (See pictures from the 2009 BAFTA Awards...
...recoup their value is fairly easy. The argument has moved beyond that part of the media industry. The value of feature films is under attack. DVD sales used to drive a lot of the profit from movies. Consumers are getting what they used to see on DVD from the internet. They now often pay less than they did for the physical copy of a film. In many cases, the internet can be used to get the film without paying at all. And, it is easier than sneaking into a movie theater undetected...
...internet has already proved to be an imperfect place for the film and TV industries to make money. YouTube, Google's (GOOG) video-sharing site, has always had the lion's share of the online video audience. Virtually all of the content there is free. Visitors do not watch advertising or pay a fee. NBC has tried to set up a large video site that does capture revenue. Hulu.com only has high-end TV and films. There are commercials that run on every program. But, a number of the advertisements running at Hulu now are free public service spots...
...industry may not be able to get any of its value back. Magazines may face the same problem. To the surprise of many, some of the more valuable content, like expensive feature films, may only make a great deal of money in theaters. The yield from VOD on the internet sales and syndication on the Apple (AAPL) iPod may turn out to be extremely modest...