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Media business models for this new era discussed at Asia Media Summit

Changing media business models was the topic of a session on Day 2 of the Asia Media Summit in Delhi.

A panel of speakers looked at how business models are changing and how broadcasters can respond.

“The largest taxi company Uber, doesn’t have a fleet, the largest accommodation company AirBnB, doesn’t own any hotels. The largest news media company Facebook, doesn’t produce any content,” said David Hua from ABC Australia.

Due to changes in technology that have spawned new businesses, older businesses are finding it harder to make money in the modern business environment. The prestige of owning a media company has also declined. “Fragmentation is shattering everybody’s business models and dreams,” said Hua.

One of the key factors that characterize new business models is personalisation.

Businesses have the opportunity to personalise content for each of their consumers, and those that are doing so can achieve good results. But there is a caution to be remembered, companies need to respect the line between personalisation and privacy. “While people may share their personal information with a company to enable some personalization, they don’t want their data used beyond what they gave it for,” Hua told delegates.

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