“One new business model is in the economics of sourcing content and talent. At least for now, new sources of content can be bought cheaply — meaning free.
“The media are undergoing a significant overhaul of business models, and this is driven by the customer.
“At some point, however, the 1% of those who create the majority of the content that’s retaining an audience will demand some form of incentive. That is why we are seeing an enormous amount of competitions as incentives.
“Viacom Inc.’s VH-1 just launched Acceptable.tv to find talented undiscovered filmmakers and producers. On the new site, amateurs can upload their 2-minute short comedy clip and submit them for a vote. One winner will have the chance of getting his or her production aired on national television.”