Digital technology and dollar signs
[Commentary] Talk to filmmakers and media executives about the Internet -- the biggest tectonic shift in the entertainment industry since the advent of cable -- and they typically gripe about two things. Consumers, they say, predominantly seem to want to watch short video clips, and the economic models for earning a decent return on Internet content are still hazy. Business models for content on the Internet are still evolving. But it's already becoming clear that $100-million movies like "Land of the Lost," or even $10-million independent films, may not represent the future of the industry. And new technologies like YouTube, the iPhone and next-generation gaming consoles are opening up all sorts of new, creative possibilities. The artists and business people who will succeed in this new environment are those who are paying attention to the changing behaviors and tastes of this new digital audience -- rather than trying to ignore them or, worse, explaining why they are wrong.
Digital technology and dollar signs