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	<title>Gravity Medium &#187; scarcity</title>
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		<title>Gravity Medium &#187; scarcity</title>
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		<title>Economics of Abundance</title>
		<link>http://gravitymedium.com/2009/10/23/economics-of-abundance/</link>
		<comments>http://gravitymedium.com/2009/10/23/economics-of-abundance/#comments</comments>
		<pubDate>Fri, 23 Oct 2009 14:00:11 +0000</pubDate>
		<dc:creator>John Proffitt</dc:creator>
				<category><![CDATA[Gravity Medium]]></category>
		<category><![CDATA[community]]></category>
		<category><![CDATA[economics]]></category>
		<category><![CDATA[events]]></category>
		<category><![CDATA[mike masnick]]></category>
		<category><![CDATA[Public Media]]></category>
		<category><![CDATA[scarcity]]></category>
		<category><![CDATA[seth godin]]></category>
		<category><![CDATA[techdirt]]></category>
		<category><![CDATA[tribes]]></category>

		<guid isPermaLink="false">http://gravitymedium.com/?p=756</guid>
		<description><![CDATA[Here&#8217;s what most public media outlets still don&#8217;t get &#8212; especially in the corner offices. If you get this economic concept, you&#8217;ll understand why creating media and throwing it out there isn&#8217;t enough. There are two scarcities that public service &#8230; <a href="http://gravitymedium.com/2009/10/23/economics-of-abundance/">Continue reading <span class="meta-nav">&#8594;</span></a><img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=gravitymedium.com&#038;blog=5751475&#038;post=756&#038;subd=gravitymedium&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p>Here&#8217;s what most public media outlets still don&#8217;t get &#8212; especially in the corner offices. If you get this economic concept, you&#8217;ll understand why creating media and throwing it out there isn&#8217;t enough.</p>
<span style="text-align:center; display: block;"><a href="http://gravitymedium.com/2009/10/23/economics-of-abundance/"><img src="http://img.youtube.com/vi/VuxMJ8lnYA4/2.jpg" alt="" /></a></span>
<p>There are two scarcities that public service media firms can utilize immediately, and probably more that haven&#8217;t yet quickly come to mind:</p>
<ol>
<li>unparalleled-quality news / information / data / analysis, especially when coupled with excellent curation</li>
<li>leadership and convening of tribes by geography and public service interest</li>
</ol>
<p>News, even top-quality news, is not enough. Because once it&#8217;s released into the digital world, the price falls to zero or near zero, so you can&#8217;t monetize it directly. You can ask for donations to support your public service (sound familiar?), but the appeal to altruism &#8212; while it works to a degree &#8212; doesn&#8217;t achieve full financial support. (Look at the balance sheets of public media companies across the country; they don&#8217;t live by altruistic donations alone).</p>
<p>But just as the musician makes money from t-shirts and live events and other opportunities to &#8220;experience&#8221; the music beyond simple recordings, so too can public service media gather money via events and participation in limited-access tribes or communities of interest. Plus, the simple creation of those events and communities is a new service for most pubmedia outlets. The communities can be created online and the tribes can be led and organized offline.</p>
<p>I know &#8212; some of these terms may be confusing if you haven&#8217;t read <a href="http://www.amazon.com/dp/1591842336/">Seth Godin</a> or <a href="http://www.amazon.com/dp/0596156715/">Jono Bacon</a>. But that&#8217;s where public media has to go. Broadcasting is not enough. Publishing online is not enough. The public needs more, wants more and will part with money to get it.</p>
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