The financial headlines these past few days are making it abundantly clear that the world's financial markets are still like a non-stop two-week ride on the Six Flags Great Adventure Rollercoaster. The time for hysterical fear, dry heaving and the legalization of trampling is upon us...at least, according to The Onion.
But in Internet land some things continue to move methodically onward and upward; in particular, look at what's happening in the delivery of online entertainment.
In just the past week, we've learned that...
- YouTube is dipping its toe in the water by finally partnering with entertainment companies to begin showing some full-length television programs, in hopes that the new approach will help it increase ad revenues. Despite the Web site's popularity, Google has so far struggled to monetize user generated content despite trying out a range of different advertising models.
- On the heels of YouTube's announcement, Joost said that it, too, was going to make some changes that will make its site easier to use for consumers and, hopefully, attract more visitors to the site. Chief Executive Mike Volpi said Joost would turn to flash video so that users would no longer need to download special software to watch videos.
- SNL looks to be "in talks to develop a new on-demand video Website that would feature an array of comedy clips".
Despite Wall Street's woes, markets haven't yet disappeared. The old-fashioned desire to make a buck - yes, even on the Internet - is leading to scads of new online entertainment options, experimentation and innovations.
For years, YouTube looked the other way while hosting users' unauthorized uploads of movies and TV shows. Now, they are joining the game as well, as consumers are increasingly clamoring for high-quality entertainment on the Internet that they can find and enjoy easily. Whether it's Grey's Anatomy or Dr. Horrible's Sing Along Blog consumers want it when and where they want it and they want it to be safe, fast, and reliable.
It's a simple lesson: Business models that work for both the creators of a good and the consumers of a good are the only business models that are self-sustaining. Take either out of the Internet value-chain and the system goes kaput.
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