It is arguable that commentators who try to get media attention by forecasting the death of virtual worlds are being both cynical and wilfully blind to their growth facts (blog.secondlife.com).
Some doomsayers claim that companies are forsaking Second Life, yet on the other hand, new companies with even more exciting aspirations are taking their place. The recent announcement of Apple Computer’s new stores in Second Life (www.macnn.com) – with a claimed variety of patented new techniques for creating multidimensional value - is one example.
Traditional media companies such as newspapers are watching the erosion of their traditional revenue (www.abc.net.au) streams closely but there is little evidence that they are exploring new opportunities such as those described above.
The new generation of "media comms" players are at an advantage because they make money from the simple act of delivering the content (via access charges) as well as payment for the content itself. But they are also in the best position to insert themselves as gatekeepers or toll takers, at critical new points on the electronic superhighway such as the EPG, wherever such points occur. They may be on the start-up screen of a mobile phone or in a virtual world such as Second Life.
Who would have thought that a company such as US telco AT&T (www.techcrunch.com) would ever publish and distribute its own browser such as the 3-D optimised Pogo (www.pogobrowser.com).
AT&T has surfaced on its telco shoulder some serious media comms credentials. It has shown it is an innovator and understands the importance of taking a leading position in new lines of business activity which might have seemed far too exotic or out of left-field only a short time ago.
It is not easy to predict what will make money in the future. We know there are some general principles which can act as a useful guide. Social networking, user generated content, gameplay, multiple identity management, one click access to personalised content, the ability to manage and monetise portal traffic, are all important. But the key to the hearts of tomorrow's loyal consumers will be in the nuances of interface.
The audiences will have short attention spans. The multitude of choices they have will ensure they remain fragmented, and that smaller tribes defy expectations of advertisers who seek traditionally large audiences from media such as television. What will be important therefore, is the perception of cool. Apple has it. Even when Apple comes up with a product which doesn't hit the mark at first - such as Apple TV - the Apple faithful still thrill to the charisma of the journey.
What companies such as Telstra must now do is bring their products and services to the next level. To the Apple level. In every element of a customer's interaction -- whether it is during a technical support call or even just listening to an "on hold" recording -- there must be an aura of excellence, excitement and magic. That is the true challenge faced by all media companies in the 21st century.