In the seventh episode of the IIMB Podcast Series, released on October 11th, Praveen Krishnan, PGP 2011 alumnus of IIMB and Head of Product at The Ken, shares his insights on the evolution of the media industry and the impact of technology on content creation and delivery, business models, and product thinking
11 OCTOBER, 2020: The seventh episode of the IIMB Podcast series featuring Praveen Krishnan, PGP 2011 alumnus of IIM Bangalore and Head of Product at The Ken, dealt with the topic of the intersection of media and technology. Praveen talked about the evolution of the media industry and how technological advancements and the COVID-19 pandemic are accelerating change in methods of content creation and distribution, monetization models, and product thinking in this industry.
The issues addressed in the podcast were related to the changes that the media industry has witnessed over the years and how the intersection of media and technology is impacting this industry. Praveen shared insights on the shift in how media outlets today look at digital and online due to the changes in distribution channels, and the evolving interaction between the editorial side and business side of media companies. He touched upon the changing nature of advertising and mentioned that while it is still lucrative for large players, a purely advertisement based business model is no longer sustainable for smaller players and publications. He also talked about a predominant theme across the world, which is the destruction of local news.
Explaining the changing nature of the ads ecosystem, Praveen talked about upcoming business models which include paywalls, subscriptions, and bundling of services. Praveen explained how this shift is coinciding with a decline in trust towards media outlets, and how being a niche player might be more lucrative due to the host of challenges that come with scale. Talking about the drivers of growth for subscription-based outlets, Praveen stated that a motivated team, entrepreneurial organization structure, viewing journalism as a product, and achieving product-market fit are key factors to success. Praveen concluded the podcast by stating that over the years, media has taken its place for granted. But today, it is facing three crises simultaneously – a crisis of business model, rapidly changing distribution channels, and declining trust. Thus, the media industry today is facing a difficult time, and these challenges would break traditional views and change things in the future.
Listen To The IIMB Podcast Series On:
In the seventh episode of the IIMB Podcast Series, released on October 11th, Praveen Krishnan, PGP 2011 alumnus of IIMB and Head of Product at The Ken, shares his insights on the evolution of the media industry and the impact of technology on content creation and delivery, business models, and product thinking
11 OCTOBER, 2020: The seventh episode of the IIMB Podcast series featuring Praveen Krishnan, PGP 2011 alumnus of IIM Bangalore and Head of Product at The Ken, dealt with the topic of the intersection of media and technology. Praveen talked about the evolution of the media industry and how technological advancements and the COVID-19 pandemic are accelerating change in methods of content creation and distribution, monetization models, and product thinking in this industry.
The issues addressed in the podcast were related to the changes that the media industry has witnessed over the years and how the intersection of media and technology is impacting this industry. Praveen shared insights on the shift in how media outlets today look at digital and online due to the changes in distribution channels, and the evolving interaction between the editorial side and business side of media companies. He touched upon the changing nature of advertising and mentioned that while it is still lucrative for large players, a purely advertisement based business model is no longer sustainable for smaller players and publications. He also talked about a predominant theme across the world, which is the destruction of local news.
Explaining the changing nature of the ads ecosystem, Praveen talked about upcoming business models which include paywalls, subscriptions, and bundling of services. Praveen explained how this shift is coinciding with a decline in trust towards media outlets, and how being a niche player might be more lucrative due to the host of challenges that come with scale. Talking about the drivers of growth for subscription-based outlets, Praveen stated that a motivated team, entrepreneurial organization structure, viewing journalism as a product, and achieving product-market fit are key factors to success. Praveen concluded the podcast by stating that over the years, media has taken its place for granted. But today, it is facing three crises simultaneously – a crisis of business model, rapidly changing distribution channels, and declining trust. Thus, the media industry today is facing a difficult time, and these challenges would break traditional views and change things in the future.
Listen To The IIMB Podcast Series On: