At Adaptive Lab we regularly hold events to discuss the challenges, trends, innovations and accolades of digital across a variety of industries as we believe that developing our skills and understanding of this rapidly changing landscape is sometimes best learnt from one anothers experiences. If you would like to join us for future events then email firstname.lastname@example.org and we will keep you in the loop.
One of our most popular series of events over the last year has been Harnessing Disruption. Following the success of the last three, we saw the fourth in the series on 20th November, which as with previous Harnessing Disruption events was orchestrated around the topic of disruption in media.
Joining us were 3 fantastic speakers, Chris Maples former VP of Spotify Europe, Nick Haley Director of UX at The Guardian and Prashanth Naidu founder of startup Rezonence. By 6:30 a superb audience of over fifty people had piled in through the Adaptive Lab HQ doors to be greeted by flowing wine, craft beers and Filipino tacos - the night was in full swing!
Rezonance is a startup that’s mission is to help publishers increase revenues and advertisers engage with audiences. Prash proposed that, unlike in most marketplaces, online content is not optimally valued and that publishers should consider pricing each piece of content differently depending on the audience and its value.
In days gone by people saw the value in buying news as they went to their local newsagent to buy their daily paper. Nowadays people are no longer defined by one publication as they have access to several free outlets and have become self curators. Prash and Rezonence believe that the only way to fundamentally change this consumption of content is to change the psychology of readers - how they use and view content.
Using the analogy of a fruit seller on a market he remarked that not all fruit is priced the same, so why should a publisher price all their articles the same. This talk sparked a lot of debate from the audience with one of the first discussions being around how would a publisher go about pricing content differently. One suggestion was based on cost, one was based on the user viewing the article and another based on popularity.
With a free version of similar content often only being a quick search or click away, would the popularity approach work? Prash suggested a reasonable micropayment or indeed gating the content with an advert which is offered by their product ‘FreeWall’. One of the members of the audience from a media agency gave praise to the value of the ad-gated approach given that it increased engagement with ad content which is obviously in the advertisers favour.
Will paid for content take off at scale? I guess we can only watch this space. Spotify have successfully done it with music, deterring many people away from illegal downloads. There are arguments for and against it. But as long as there’s one outlet willing to let you read something for free it may be a difficult market and psychology to tackle.
If you would like to be a part of our next event then email email@example.com and we will get you signed up to our calendar so you never have to miss out again!