Who’s afraid of user-generated content? According to data collected for Accenture’s annual survey of senior media executives, user-generated content is one of the biggest threats that traditional media companies face in the next few years. No one claims that video clips of Uncle Jim passing out in the punch bowl at his niece’s wedding are going to drive shows like Battlestar Galactica into oblivion, but executives are worried—57 percent of them listed user-generated content as one of their top three concerns.
For consumers, this could turn out to be excellent news, since media executives are being forced to rethink business models and strategies that worked well in a pre-Internet era, and the entire industry is entering a great Age of Experimentation. “To succeed in this environment,” said Universal Studios Doug Neil, “you need to innovate and anticipate the needs of the consumer, be willing to take risks and try new things.”