Greg Stoller, Master Lecturer of Strategy and Innovation at Boston University’s Questrom School of Business, reflects on the evolving landscape of media, the democratization of content creation, and the realities of standing out in an increasingly crowded market. While the tools for creating and distributing content are more accessible than ever, success is far from guaranteed.
I’m not surprised to hear that content creators have built a $500 billion industry. However, I believe this trend isn’t confined to social media alone. Marques Brownlee, for instance, was one of the early pioneers in this space with his tech reviews. But it’s important to recognize that offline content creation is equally impressive. Many individuals who started out on reality television shows like 90 Day Fiancé, Real Housewives, and even smaller productions like Below Deck have leveraged those platforms to become well-known celebrities. I was recently quoted on Marketplace.org, discussing the Comcast cable spinoff, and I believe these two phenomena are closely linked. Gone are the days when people interacted with celebrities primarily through movies or traditional TV. Today, there are countless ways to consume media, and production costs have become so much more affordable that virtually anyone with an idea can create content and distribute it across multiple channels.
However, it’s important to note that lists like Forbes tend to focus on the top 0.5% of success stories. Several years ago, I worked with a team to transform a 30-minute public access cable show called The Language of Business into a nationwide platform. We began by broadcasting on public access stations throughout Massachusetts and eventually expanded to a platform called PEG, allowing us to reach audiences across the country. Later, I was fortunate to spend a year on commercial television in New Hampshire. This required countless hours of preparation and execution, and while we were thrilled to have 500,000 viewers per episode, measuring the return on effort (ROE) was incredibly difficult. I don’t think my experience was unique, either.
The good news is that production tools have become more affordable while still allowing for high-quality content. The downside, however, is that nearly everyone is now creating content. While it’s certainly possible to get your message out, it’s often diluted by so many “me-too” competitors doing the same thing. From my perspective, I believe it’s a fantastic opportunity for someone to develop a concept and share it with the world, but it shouldn’t be viewed as a get-rich-quick scheme or a stable, reliable source of income.
Even this platform where this blog is being posted has been a great success for Questrom. We’ve been able to distribute a variety of messages and support the school’s brand equity, but no one views this as a for-profit venture.
