John Battelle on stage right now talking about his new company FM

John’s on stage giving a keynote about his new company, Federated Media. I’ll live blog it

2:24PM: Industry Standard blew up I believed in it (the Internet) and I was like “geeze maybe it is over.” So he went to teach about bloging. And he loved blogging because it’s a lot like building a magazine but without the paper.

2:25PM: I went to Google in 2002 It felt like the revolution never ended. So, I thought well what does this all mean and I spent 2.5 years trying to figure this out. So, I started this site about Search to help me write the book. The best blogs are conversations. 94,000 readers last month. I thought, wow, hmmm there is something to this blogging stuff. Things felt really familiar, but a little different. I thought to myself maybe this web thing is coming back. Gives plug for Web 2.0 conference.

2:27PM: Talks about boingboing and their bandwidth charges going through the roof. I became the band manager for Boingboing. New business I’m launching which I’ve never talked about in public which is FM Publishing which I’ll talk about for two minutes at the end.

2:29PM There is a platform on the web today that we could build upon not like in the old day. Content and services on the Internet matter. This time things are a little different:

1. letting your users build the business. allow the customers to build the value. The classic example is Amazon (example given: the recommendation system). flickr is classic example, and Google is built on linking between sites.

2. Innovation and assembly. How do you take what is freely available and assembly it differently and innovate like that. Feedster, Technorati given as an example.
3. Lightweight business Models: John gives props to me for Weblogs, Inc. (yes!) and Craigslist. Don’t raise 60m, build it like a studio.

2:32PM: The Power of the Long Tail. ugh I think everyone coming to a tech conference should be force to sign the Long Tail Waiver in which they guarantee they understand what the long tail is, and do not require an slide on it. John gives the classic example of finding music down the long tail.

2:34PM: John’s first “controversial slide” > NEW MEDIA WAS NOT THAT NEW. John shows that the model for WSJ and new media is the same: hire content creators, attach advertising, hope subscriptions happenexcept in “new media” the subscriptions didn’t really happen. MSM Model: create a “thing” (newspaper, magazine) and fight tooth and nail to build and defend and audience.

2:37PM: Marketing becomes a sales channel: when every dollar you put in you get a $1.50 back you shift that from marketing to sales. Shows Variety and Defamer Technorati search: Variety had 330 sources and Defamer had 1,566. (Editors note: That’s interesting, but Variety is a subscription site if Variety wasn’t a subscription site it would have much more then Defamer for sure). OK John just pointed this out. “Is this going to far? What about Branding?” is what markers are asking.

2:40PM: REACTION OF MAINSTREAM MEDIA BUSINESS: Search undermines content-attached models. Ad can be sold at point of intent, my content is threatened. John says you might shoot yourself in the foot by putting DRM around things and suing your customers. “Google is a brand killer” Paul Rossi from the Economist.

2:43PM: There is no lock out. I don’t think it’s wrong to pay the content creators well. There are many stripes of blogs. WEB 2.0 PUBLISHING MODELS: ENTER THE BLOG. A weblog is at he end of the day another publication. A lightweight model which innovates in assembly and lives down the tail. Author is a leader in community. For now, mainly non commercial but Jason (yeah second mention!) is working on this. Non commercial is not a defining difference. The difference lays in the direct relationship between author and audience similar to musician audience. Obligator slide on Technorati data about # of blogs.

THE ESSENCE OF GREAT PUBLICATIONS: CONVERSATION: Publisher, Marketer, and Audience. A publiscation fosters a community conversation, one that includes an element of commercial speech as well. Advertisers are both marketers and part of the conversationthey are endemic to the publication. The reality of most publications is that the author goes through the publisher to the audience. It’s limited and the author is marginalized most of the time.

John gives examples of great blogs that are not publishers: Om Malik, PVRBlog, boingboing, SearchBlog, Waxy.org. But blogs are an ideal place for commercialization. Communities want commercial speech that recognizes the community (basically the readers like that advertisers know about their favorite blogs).

2:50PM: New networks are forming like Nick’s and Jason’s. I’m doing it too I’m doing it a little differently so I think there are room for a few. A federation of authors who have found an audience. We facilitate between the marketer and the authors. We bring together little segments as well as topic areas so that. We don’t own these sites, we don’t hire and fire them (the bloggers) they can do what they want. Bundle of sticks concept. Each site in the network is vetted for quality and you just go get advertising. You can change your creative quickly we’ll work with agencies to make that happen. We do all the reporting and analysis. We’ll do a metasite for each bundle of sites and go to marketers tech lifestyle is the first one.

we’re off to Q&A

Federated Media is not exclusive bloggers can take an ads from other folks like Blogads, AdBrite, etc. At will blogging. Bloggers can leave any time you want. It’s based on trust and relationship.

Video is ways off

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