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Going "Where the Audience Is"
Keeping the theme of "bottom up video" as a rising trend, old friends of mine announced a deal today for Sony Pictures Entertaiment to purchase the social video service Grouper for 65 million dollars. I suspect we will continue to see the line between traditional media companies and online user created media continue to blur. Here is bit from the press release:
"Sony Pictures Entertainment (SPE) has acquired Grouper, the fast-growing user-generated video site on the Internet, it was announced today by Michael Lynton, SPE Chairman and Chief Executive Officer...Consumers are spending more and more time on sites like Grouper, and as one of the world's largest creators of entertainment, we want to be where the audiences are," said Lynton." In another story he compared social video sites this way: "I think user-generated content and the sites around (them) are businesses or platforms unto themselves in the same way that television networks (are)," Lynton said.