How will media companies make money five years from now?
Miller: There will be more pay and subscription, more multiple levels of niche marketing, various devices and consumption channels, and more low-cost channels. Part of the trick will be getting good at all of the above. It will no longer be as simple as making a movie, selling a DVD and the rights to HBO, and making 19 percent of the gross from a television network, so life is good. The media business will have many more points of consumption, and you will have to aggregate all of it. But in the end, we will not trade one to one – they will all have different values. One of the key questions is whether content continues to grow and be differentiated and valuable enough to have true paying models. I think the answer is “Yes.” We will see both subscription forms as well as micropayment transactions. We are at that inflection point in the music industry where streaming forms are taking over from a la carte downloads. For a reasonable price going forward, consumers will be able to access t
