Speaking:

Dan is represented by the Lavin Agency in Toronto.

Race to the bottom: How the Internet is destroying the media business — and saving it, too

Media companies, big and small, print and broadcast, are in a panic. The Internet is wiping out their industry, robbing them of the two key pieces of their business – their audience and their advertisers. The destruction is happening faster than anyone expected. Says the publisher of a major business magazine: “It’s a classic example of Schumpeter creative destruction. It’s not that we can see the tsunami headed toward us. We’re in the tsunami right now. We’re in the washing machine. We’re being shaken to our very foundation.”

So what comes next? What kind of news and entertainment will we have in five years, or ten years? Sadly, most first-generation Internet media has been disappointing, as media companies race to the bottom, churning out ever more tawdry material in a desperate attempt to attract and retain readers and viewers. Yet Newsweek technology columnist Daniel Lyons argues the Internet eventually will bring us a better, richer, deeper, more useful media experience than we’ve ever had.

Lyons brings a unique perspective to the topic. As a print journalist at one of the world’s largest news magazines, he has one foot in the old world. But Lyons is also a leading figure in the world of Internet media. For two years he penned “The Secret Diary of Steve Jobs,” one of the largest and best-known blogs in the world. Lyons explains why much of mainstream media has done a lousy job and deserves to die; why most of what media companies have done online so far is as wrongheaded and as doomed as their traditional business model; and why the key to unlocking the power of the Internet will involve doing new things that exploit the unique capabilities of this medium, including the ability to narrow-cast to smaller audiences and to convert readers and viewers into content creators. It’s a frank and compelling talk, one that offers insight into the world of digital media and will help companies think about ways to deal with disruptive technologies and challenges to their business models.