Last week, a cable news pundit struggled to understand the new media landscape. So he sought advice from his teenage son. He asked the youngster to name the most influential people in the world today. Can you guess the names he picked? If you want to support my work, please take out a premium subscription (just $6 per month).Here’s what happened:
This is the new reality. The future of media has arrived—but people above a certain age won’t even recognize the names. Check out the list below of the most watched streamers in the US and Canada. Jynxzi? Zackrawrr? Summit1g? A few days ago, I’d have told you these are passwords, not people. Now I know better. I’ve watched videos from each of these individuals—and it’s shocking how different they are from mainstream media fare. Media empires are getting defeated, but not by their corporate competitors. They’re finding themselve replaced by a ragtag assortment of podcasters, pranksters, pundits, gamers, gadflies, and influencers.
Meanwhile inside the world of legacy media, the situation has gone from bad to worse:
This sounds brutal—but I’ll say it anyway. The only viable business model in legacy media right now is finding a billionaire owner. But that’s a painful way to earn a living as a journalist. Just ask the writers at the LA Times or Washington Post. Based on these incidents, you might assume that the entire media business is collapsing like a bad souffle. But that’s not true. Alternative media is enjoying a gold rush. I predicted this a little over a year ago. But even I’m shaken by the speed with which the fringe is devouring the mainstream. YouTube boasts that it is rapidly taking over the living room. Instead of watching Netflix or cable, audiences are increasingly streaming podcasters and influencers on their home television set. Last week, the company released its latest figures: “Viewers watched over 400 million hours of podcasts monthly on living room devices.” YouTube is already 40% bigger than Netflix. And that gap will grow. Meanwhile Substack announced yesterday that it will create a turbocharged enterprise platform to support entire media businesses. Some Substacks may soon resemble the The Atlantic or Vox Media or even the Washington Post. The goal is to provide individual journalists or teams with a “new option for starting a fully-fledged media business, encompassing rich design, advanced websites, deep analytics, automated marketing features, and first-class support for video, audio, and more.” Can freelancers really compete with huge media empires on equal terms? We will soon find out. This feels like a big deal. But it’s going to get bigger. The fringe will take over other spheres of the culture. It’s starting with journalism, but the same thing will soon happen in music, movies, and other fields.
Yes, 2024 was tumultuous for participants in the culture business. But 2025 will look like total anarchy. The rules have changed—and that means the rulers must also change. I’m not sure who will end up on top, but it won’t be the familiar names from the past. You're currently a free subscriber to The Honest Broker. For the full experience, upgrade your subscription.
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Mainstream Is Now Fringe, and Fringe Is Mainstream
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Mainstream Is Now Fringe, and Fringe Is Mainstream
The current state of media is total anarchy ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ...
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