Is all content king?

While content is king, investors prefer platforms and distribution. They are scalable and there is less risk of being in a "hits business." Yet these platforms need content to drive audience. Look at AwesomenessTV which today announced Verizon (platform / distribution) was acquiring a quarter of it. If we look at video, we see Facebook, Youtube, Instagram (with longer video now), Twitter, Go90, Spotify, numerous OTT services and enough platforms to fill up this entire post. I tend to think about their content (video) needs in three buckets.

Bucket 1: Need to have

It seems like every platform either has or launches with BuzzFeed and Vice, with maybe a sports league thrown in for good measure. It makes sense. These are compelling, well recognized brands. And while these media companies enjoy being on every platform, the reality is that it doesn't bring the legitimacy the platform craves. If I consume, for example, Vice, on one or two platforms, is it really that compelling for me to experience them on several others as well? Was I really missing BuzzFeed until it appeared on yet another new distribution network? I see this as content, but not really original content.

Bucket 2: Original content

I see budgets and buyers for many shows and talent driven projects. This is the Netflix and HBO model now adopted by mobile first and OTT distribution networks and aggregators. It is a great time to make original content. There will be amazing new "shows," made as well as less amazing ones. And yes, a lot of it will come down to budget. Those who can pay will acquire great ideas and stories, and attract great talent, and audiences will be able to tell the difference. Those who don't will have a lot of shows that sounded great, and that no one watches. But the issue here is not just budgets and it's not just exclusivity, but it's why should this show be on this network (other than this network came up with the idea).

Bucket 3: Native format driven original content

What's more exciting is when original content emerges or is in sync with the format of the platform. Snapchat stories is the obvious example. Watching a story of a worldwide trend or a live event is the new reality television and it's clear when watching that this is Snapchat native. Netflix also fully exploited the format, and their platform, with varying length of episodes in series and binge watching releases of entire seasons at one times. Some of us may take these for granted now but they were both revolutionary and when launched only made sense because of their platforms. I also like Amazon's potential with the bio and content overlays on their mobile app. Interesting and original approaches could emerge when the content isn't just resized for a screen but exploits its format fully.

So while content is king, in the land of many platforms I would argue that native format driven original content is the real king, or maybe even the Ace.