From TV to the Computer

It was announced last week that ratings for all of the TV premiers were down from last year. Can't say I'm surprised. Did anyone really expect them to go up?

One reason they dropped: the rise of TV on the internet. Hulu has shown a big increase in popularity over the last year, with NBC being a major backer behind it. More people are shifting towards watching TV shows at their convenience, instead of only at a specific time slot. I believe there is a correlation between the rise in popularity of the DVR and internet TV. Both let you watch almost any show whenever you want. While DVR lets you skip commercials, internet TV cuts down on commercial time significantly.

Another reason: It is free. Why buy the cow (cable subscription) when you get the milk (tv shows) for free? When people started sharing CDs online illegally, the labels went after them. The TV networks are doing the opposite by offering up their content online also.

This is a step in the right direction for TV networks. They are embracing their customers and adopting to what they want. They learned from the mistakes of the music industry and embracing change.

WSJ has more on this here.

Wall Street Journal Wine Club

With newspapers nervous about their impending doom, a lot of cutbacks are being made across the country. More news from the wire, smaller sub-sections (such as travel), and more blogging efforts are all results of the struggling business.

Wall Street Journal has come up with a creative new way to subsidize revenue; they're starting a WSJ wine club. It's one of those wine-of-the-month clubs as found in SkyMall, except WSJ runs it, kind of. They're teaming up with Direct Wines, and other than loaning their name the collaboration isn't clear.

Regardless, if you want to support the WSJ and get something out of it, this seems pretty viable. And hey, maybe it's about time those economic commentators put their money where their mouths are and diversified their portfolios! On the other hand, how many people want to sign up for a wine of the month club during this dire economic downturn?

Read the WSJ-bashing NYT artice here (spoiler: author implies that WSJ readers aren't "effete" enough for wine): (NYT)

Ihateyourcompany.com

Very interesting article from the WSJ on how companies are handling user feedback online.

What should companies do?
Get involved in the conversation. Approach the consumer in an understanding, not angry, tone. You won't be able to buy up every negative domain or stop every comment, so the best thing you can do is be transparent. Approach the customer with open arms and see what you can do to help them.

Companies shouldn't fear the negative comment. They should embrace it. If people are worked up enough about your product to write negatively about it online, chances are they will be listening to you explain how you will right a wrong.