Twitter Compliments Traditional Media Rather Than Disrupt
eLuminate Note: Fast forward video to 09:11 to view key parts of the discussion
Technology companies in the social media space are typically thought of as disruptors to television programming. However, Twitter CEO, Dick Costolo, thinks Twitter compliments traditional media instead of disrupting the space.
If you are an entrepreneur in the tech space, with a social interaction product, you may want to consider ways in which your product adds to the user experience by complimenting media.
Now that almost anyone has access to tools that allow easy distribution of media, news gets disseminated in seconds. The speed with which information gets pushed out around the globe is likely to shift the focus of television, print and radio news. News organizations may have to rethink the business they are in and go back to their original roots of curating, analyzing, and synthesizing information. No longer should news outlets try to compete with the immediacy of information on social media.
It is expected by most people that Twitter would try to crush any and all media that competes for eyeballs. Instead, Costolo emphasizes that Twitter and television can co-exist and compliment one another.
So, what does this mean for startups? As an entrepreneur, the so-called “obvious” threats to your business may include companies that have synergies that can be leveraged. Consider possible opportunities for increased advertising revenue, content distribution, product expansion, etc.
Also, disruption may not only occur in the way that you planned. For example, you may not achieve world domination of every media outlet, but you may reshape the way your competition does business. Similar to the possible return to the original roots of journalism, disruption may cause your competition to reinvent the way they deliver their product or service.
Source: Dick Costolo