Monday, May 10, 2010

Transmedia is the future of business, EXCEPT for these two huge issues…

Last week, Gareth had three excellent posts on Transmedia (see post 1post 2and post 3) and if you are thinking of ways to expand what you do and how you do it, YOU MUST READ THEM!!! (Yes they are that good).

BUT……….while I do agree with 95% of what he said, I do have a few things that need to be covered to really make this what I would consider “fair and balanced”.  So here are my two issues that may stop your transmedia empire:

MONEY: This is the biggest one.  To do a lot of the things that were suggested, you need to have money.  And sometimes you are going to need A LOT OF MONEY to do some of these ideas.  So if you got the money, then go for it.  If you don’t, well instead of thinking about the next fantasy world or setting you are going to create, you might what to think about that.  I would also suggest you pick up a copy of Robert Kiyosaki’s book: Rich Dad Poor Dad, Cashflow Quadrent and Rich Dad’s Success Stories.

TRAFFIC AND CONNECTIONS: People have to know about you.  And not a few people, A LOT OF PEOPLE! CWF+RTB=$$$ (Connection With Fans plus Reason To Buy equals Business Model) is the basis of the argument of doing transmedia and making a lot of money.  This formula sounds great as long as you use a well known artist LIKE Trent Reznor and show what here did. See the video here:

But here is the problem for all you starting from zero or in some cases less than zero: No one knows of you.  No one.  So first you have to build fans and how long will that take?  Who knows.  Even worst, you might do everything right and still get NO FANS. Don’t get me wrong, I think it is great Trent Reznor did so well with this, but if his was Trent Reznor of Jacksonhole, Wyoming playing music in his garage with no major record label contracts would he have done so well and made so much money? I going to say no.  The formula really should be CWF/APF+RTB-POCWFI=$$$ (Connection With Fans divided by Amount of Potential Fans plus Reason To Buy minus the Popularity of Other Connection With Fans Items equals Business Model).  Sometimes one plus one doesn’t equal two. 

Now after all this is said, if you are ever confused about Transmedia and what you company should “look like” when you are successful and done, just look at George Lucas and his Star War franchise. Now that is REAL transmedia.  Talk to you later…