What creates value: scarcity. Professional content is becoming a commodity in the age of digital. The volume of data is growing faster than our ability to capture and use it. According to Forrester Research, the world’s data doubles approximately every three years. TV shows, movies and newspaper articles are now competing for our attention with email, text messages, homemade videos and Flickr albums. Communications in all aspects of society ─ business, politics, education, non-profits ─ will have to get a lot better in order to be heard amid the din. Cranking out press releases and getting coverage in papers that not that many people read anymore is becoming increasingly ineffective. The economics of attention are becoming increasingly important.
Here’s another interesting thought from “Gin, Television, and Social Surplus” by Clay Shirky
Media in the 20th century was run as a single race–consumption. How much can we produce? How much can you consume? Can we produce more and you’ll consume more? And the answer to that question has generally been yes. But media is actually a triathlon, it ‘s three different events. People like to consume, but they also like to produce, and they like to share.
And what’s astonished people who were committed to the structure of the previous society, prior to trying to take this surplus and do something interesting, is that they’re discovering that when you offer people the opportunity to produce and to share, they’ll take you up on that offer. It doesn’t mean that we’ll never sit around mindlessly watching Scrubs on the couch. It just means we’ll do it less.