Buddecom released their Social Networks & UGC – Analysis (Australia) report a couple of days ago. It’s from a roundtable discussion – the panel on March 1st were:

  • Pippa Leary – Product and Marketing Director, News and Information – Fairfax Digital
  • Tom Kennedy, Director Digital Strategy, Legion Interactive
  • Anna Daniel, PriceWaterhouseCoopers
  • Nigel Dews, CEO 3 Australia

The report costs $USD40. If you read this blog or similar Social Network ones, you won’t need the report and there are some well, inanities, in it.

“Looking at YouTube and BitTorrent, I am pretty sure that the video market could well be the next victim of the digital media revolution.”
See what I mean? We’ve already spoken about Joost, Current.tv (soon on Foxtel) and Peekvid on here.

Are there really only two basic types of contributors to User Generated Content – “those who want 15 minutes of fame and those who want to become engaged in discussion“? I started blogging because it was a convenient way to keep bookmarks, with notes and point someone else to them. I stay blogging because one day (longevity) I hope to be recognised as an expert in my area – and I’m not a demographic of one with this view.

…there is already a trend towards more professionalism under UGC providers; give some time and there will be a large number of very professional UGC providers”. Nonplussed. I thought it was already here. Lawyers who blog, politicians who blog, University Professors who blog. Subject Matter Experts. Hyper consumers who know more about the product than the company (think developer forums, or Ducati). And YouTube is just following MetaCafe who were paying for content ages ago. Or AdCandy who pay for user generated marketing campaigns.

“Citizen journalism might soon become a special study course for those budding enthusiast”
. I thought I started teaching those courses at the University of Sydney last year? 🙂

The Internet already attracts 35% of overall media consumption, but, as we have seen elsewhere in the digital media arena, it only attracts 9% of the revenue.” The problem? This sort of roundtable with traditional media types ensure the discussion returns time and time again to Web 2.0 services and how they can be manipulated to have the consumer pay for content. It would be more useful to analyse McKinsey report statistics – social networks drop support costs down to 1/5th, customers visit your site 5x more often and stay 9x as long. What about brand recall? Reduced cost of acquisition of the customer? Customer loyalty? And so on. Which reminds me, McKinsey’s published survey results today How businesses are using Web 2.0. It’s free. However, as your mileage may vary, here’s the Buddecom link.