Bandwagon Bandwidth: Should Every Company Be a Media Company?

"In the future, every company is a media company." That’s hogwash, according to Tommy Walker. Tommy is all too familiar with this ideology and the pitfalls in the business of creating media and aggregating attention.Listen in to hear this insightful discussion and join the conversation.“Committed to the Bit”{00:05:03} - “Understanding the cost structure and what it takes to hire talent and all of that, without that sort of knowledge, if you don't have that currently right now, then no, not every company needs to be a media company. You're better off spending your money in ads or some other type of growth lever.” - Tommy{00:10:34} - “With my own personal brand, I wanted to do a podcast, but I didn't have the bandwidth to do it. But I would become a Serial podcast guest. If you have an infrastructure in place, then let me just be a part of that infrastructure, show up as part of that conversation, do what I do, do what I do well, and then bounce and go do my thing that's independent of all that.” - Tommy{00:14:41} - “What I had to do at that time was just a ton of research. This is it. This is the complete unsexy answer to the entire thing. It was a ton of research…constantly looking at what everybody was saying in this DTC space…” - Tommy{00:23:46} - “There are unspoken expectations that people have that they don't even know they have until you meet them and what you're doing is setting a higher bar for production and engagement that feels much more like a consumer-type experience.” - Phillip{00:28:50} - “Are you establishing those true fans? When you start to get an executive team that is looking for a quick return or has quarterly results they have to answer to that it gets way harder to say, "The long-term success of our business depends on creating things that people actually care about.’" - Brian{00:32:24} - “If we live in a participatory economy and we have multiplayer brands, brands look more like bands in the future. And that's why you have these marketers that are so good at what they do. People like Bobby Hundreds who come from local scenes. They come from a scene, and a scene fuses fashion, art, culture, entertainment, and music. It's a state of being.” - Phillip{00:40:54} - “What makes a compelling media play is when you can continue to reinvent {the reason to exist} so that you yourself stay interested in it.” - PhillipAssociated Links:Learn more about Tommy Walker and The Content StudioGrab your copy of The Multiplayer Brand hereHave you checked out our YouTube channel yet?Subscribe to Insiders and The Senses to read more about what we are witnessing in the commerce worldListen to our other episodes of Future CommerceHave any questions or comments about the show? Let us know on futurecommerce.com, or reach out to us on Twitter, Facebook, Instagram, or LinkedIn. We love hearing from our listeners! Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.